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OPEC Delegate - Saudi Arabia will Freeze Output without Iran A senior OPEC delegate reportedly said on Tuesday that Saudi Arabia is prepared to sign up to an oil output freeze next month irrespective of Iran’s participation...
Brent Oil Struggles for Direction as Glut Concerns Persist Brent oil is having a tough time in deciding which way to go as traders are worried production freeze by major producers will not be enough to counter excess supply situation. Hovers around $41.40 Prices are trading around $41...
Cable is not the only major USD rate suffering a volatile session this morning, with USD/CAD now some 70 cents off the highs after a sharp rally to 1.3135-40, and the pull-back equally swift...
German ZEW Economic Sentiment Rises Less Than Expected German economic sentiment improved less-than-expected in March as the financial experts' assessment of the current economic situation continued to worsen, survey results from the ZEW-Centre for European Economic Research showed Tuesday...
Greece Jan Current Account Deficit Widens Greece's current account deficit increased in January from a year ago, preliminary figures from the Bank of Greece showed Tuesday. The current account deficit widened to EUR 742.4 million in January from EUR 281...
Pound Falls Amid Risk Aversion Following Brussels Blasts The pound drifted lower against the other major currencies in European deals on Tuesday amid risk aversion, as investors became cautious after multiple explosions in Brussels left at least thirteen dead and thirty five injured...
Euro Falls After Brussels Explosions The euro weakened against most major currencies in the early European session on Tuesday, as investor sentiment dampened after multiple explosions in Brussels. The U.K.'s FTSE 100 index is currently down 0.55 percent or 33...
GBP/USD Hovers Below 50% Fibo GBP/USD avoided fresh sell-off despite weaker-than-expected UK CPI, but stays on a weak footing around 1.4284 (50% Fibo of post Fed rally). Supported by 38.2% Fibo The sell-off in Cable came to a halt around 1.4255 (38.2% of 1.3835-1...
EUR/USD Extends the Rebound From 1.1190 After bottoming out in the proximity of 1.1180 earlier in the session, EUR/USD has pulled itself together and is now advancing above the 1.1200 handle...
U.K. Inflation Stable At 0.3% U.K. inflation held steady in February and factory gate prices dropped less than expected, figures from the Office for National Statistics showed Tuesday. Consumer prices gained 0.3 percent in February from a year ago as seen in January...
UK House Price Inflation At 10-Month High: ONS British house price inflation accelerated at the start of the year to the highest level in ten months, figures from the Office for National Statistics showed Tuesday. The house price index climbed 7...
EUR/USD Breaks Major Support 1.1207, Decline Till 1.1100 Is Possible Major support – 1.12070 (trend line joining 1.12558 and 1.12355) Major intraday support – 1.1260 The pair has broken 1.12070 and declined till 1.1883 at the time of writing. It is currently trading around 1.12063...
Eurozone Private Sector Gains Momentum In March The Eurozone private sector activity regained momentum in March as it expanded at the fastest pace since December, flash survey results from Markit showed Tuesday. The composite output index rose more-than-expected to 53.7 from 53.0 in February...
Euro Falls Against Most Majors The euro weakened against most major currencies in the early European session on Tuesday. The euro fell to more than a 2-week low of 1.0881 against the Swiss franc and a 6-day low of 1.1188 against the U.S. dollar, from early highs of 1.0914 and 1.1259, respectively...
EUR/JPY Prints Session Low Below 125.00 The EUR/JPY pair hit a low of 124.67 in Europe after the news of a terror attack in Brussels triggered a sell-off in EUR/USD and USD/JPY pair. Hovers above 125.00 The cross now trades around 125...
Morten Helt, Senior Analyst at Danske Bank, sees the cross slipping towards 0.7300 in a year’s view. “Given the high uncertainty surrounding the EU referendum, we see risks skewed to the upside for EUR/GBP ahead of 23 June”...
EUR/USD Now Focused on 1.1200 – UOB The research team at UOB Group has now turned its attention to a potential break below the 1.1200 key support. Key Quotes “While the price action after last Thursday’s peak of 1...
UK CPI Misses Estimates in February The UK Office for National Statistics (ONS) data released today showed the inflation did not rise as fast as expected mainly on account of a drop in bicycle prices. The headline CPI rose 0.2% m/m and 0.3% y/y, both missing the consensus estimates...
GBP/USD Bounces Off 1.4250 on UK CPI The decline in the sterling seems to have found some support vs. the greenback around the mid-1.4200s, with GBP/USD rebounding towards 1.4285/80 band. GBP/USD bid after UK data The pair has managed to gather some traction after UK consumer prices have risen 0...
