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Oil has plunged to multi year lows after OPEC in its meeting on Friday decided to stick to its policy of pumping record volumes, disregarding the global oil glut concerns. OPEC decided to produce closer to 31...
A weak China trade data, coupled with a sharp drop in crude prices to lowest since 2009 triggered a risk-off in the markets and led to a flight to safety. The US treasuries, one of the traditional safe haven assets, advanced today, pushing the yields lower. The benchmark 10-yr yield lost 1...
UBS banker Michael Stock was employed by the Credit Suisse. Michael Stock becomes the head of investment banking and capital markets for Australia and New Zealand...
The offered tone is not giving up on the Canadian dollar on Tuesday, now allowing USD/CAD to test fresh cycle highs near 1.3630 albeit easing some ground afterwards. USD/CAD boosted by oil slump The current drop of the West Texas Intermediate to multi-year lows in sub-$37...
Gold, a traditional safe haven asset, is the weakest today, despite the china-led risk-off in the European equities and US equity index futures. Gold ignores risk-off and weak USD index The metal currently trades 0.25% lower at USD 1073/Oz levels even though the USD index is down 0.27% at 98.47...
GBP/USD has extended losses below the 1.50 mark and hit fresh 5-day lows ahead of the NY opening as the pound faces renewed weakness following mixed results from UK’s manufacturing and industrial production. GBP/USD accelerated the fall and hit a low of 1.4955 before finding support...
On Tuesday Brent futures crashed to $39.8 a barrel and WTI futures fell down to $36.6 a barrel - the weakest levels in seven years. Previous prices at nearly $108 a barrel in June 2014 has finally wiped out in 2015. The Dow dropped 117 points yesterday, with the energy sector its biggest drag...
USDJPY: With price action remaining weak and vulnerable to the downside, USDJPY eyes further downside pressure. This price development is coming on the back of its failed attempts on the upside. While the pair holds below its key resistance zone at 123.66/74 levels, further weakness is likely...
The EUR/USD hit a fresh session high of 1.0890 as the S&P 500 futures dropped 1%, pointing to heightened China-led risk aversion ahead. Safe haven/funding currencies on the rise The risk-off is supporting gains in the safe haven/funding currencies like JPY, EUR. Both currencies are up 0...
ECB member Jens Weidmann said that he does not believe that further easing is necessary, adding that the Eurozone is far away from a deflationary spiral, Bloomberg reports...
According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, the door could be open for a test of the 136.15 level. Key Quotes “EUR/JPY has eased back from the 4 month resistance line at 134.58 and very near term we would allow for some slippage to 132...
The Australian dollar has deepened losses versus a stronger greenback, with AUD/USD sliding below the 0.72 mark, also weighed by renewed softness in the commodity complex. AUD/USD has continued to back away from the 0...
The offered tone around CAD gathered pace in the early US session, pushing the USD/CAD to a fresh session high of 1.3606 as oil prices fell into losses...
following are UBS' latest short-term trading strategies (mostly intraday) for EUR/USD, USD/JPY, EUR/JPY, GBP/USD, and AUD/USD. EUR/USD: The pair didn't manage to break below 1.0800 yesterday and remains above here today.We prefer the short side but would only get involved on the extremes...
In the view of Karen Jones, Head of FICC Technical Analyst at Commerzbank, the cross remains bid while above the 1.0800/12 area. Key Quotes “EUR/CHF continues to hold upside potential near term and while above 1.0800/12 we will consider that the market is bid. Initial resistance is 1...
The leading indicators released today by the Organization for Economic Cooperation and Development (OECD) showed the growth is firming up in India and the Eurozone economy is showing signs of stabilization...
The uptick in the EUR/GBP cross is ensuring the EUR/USD pair remains around 1.0865 levels in the early US session. Weak US index futures support EUR The Cable fell below 1.50 levels and pushed the EUR/GBP pair higher, which is lending support the EUR/USD pair...
The uptick in the EUR/GBP cross is ensuring the EUR/USD pair remains around 1.0865 levels in the early US session. Weak US index futures support EUR The Cable fell below 1.50 levels and pushed the EUR/GBP pair higher, which is lending support the EUR/USD pair...
Research Team at TDS, suggests that the Canada’s November housing starts report is it today, TD’s on-consensus expectation is for the pace of new residential construction activity to remain largely unchanged at 200K. Key Quotes “Permits are expected to rebound at a respectable 2...
