All the most interesting yesterday in terms of price dynamics again occurred in the oil market. But past enthusiasm was no longer observed. On the start of the day oil was kicked more by inertia than by a fit of enthusiasm. Which suggests that the worst is behind. Of course it’s too early to completely relax, but perhaps it’s already possible to take breath. Plus,...
What happened yesterday in the oil market can be explained by the transition to a new reality in the awareness of what is happening and the boundaries of the possible. Fear was firmly entrenched in the hearts and minds of traders and completely clouded their minds. However, according to the old expression of traders, now is just the moment when you need to go...
Perhaps the main news yesterday was the fall of WTI crude oil to its lowest level in history. Anyway, yesterday will go down in history as the worst day in the history of the oil market: losing 300% (!) of price per day is definitely an achievement. But you need to understand what kind of oil that has lost 3 times of its value. We are talking about the May...
Last week was traditionally full of records and loud statements. The loudest traditionally was Trump, who presented a three-phase plan to re-open the US economy. Given that no deadlines have been announced, and the criteria for implementing the plan are quite stringent, it’s even more than premature to be optimistic. Rather, it is an attempt to make a good face in...
The main event of yesterday, traditionally since the start of the lockdown in the USA, was the publication on Thursday of the jobless claims data. And traditionally, the indicator justified the most pessimistic forecasts: 5.2 million. So now, in just 4 weeks, the labor market has officially lost over 20 million jobs (this is what US labor market has created during...
THE AUSTRALIAN LABOUR MARKET NUMBERS ARE SCHEDULED FOR RELEASE THIS EVENINING AND AUD SOLD OFF HARD AHEAD OF THE RELEASE... AN ARTICLE ON FXSTREET BY KATHY LIEN READ ....... In fact the Australian and New Zealand dollars were the worst performers on Wednesday. AUD and NZD data were weak with Australian consumer confidence tumbling sharply and house sales in March...
I am starting to trade exotic pairs now based on my strategy that I primarily use for GBP pairs that are volatility. Based on the trend, USDTRY is still going up that may break the 7.00 threshold. Follow the trend for the upside for USDTRY. TP: 6.955-7.00
Yesterday, we finally saw the first statistics from the United States besides jobless claims, which can shed light on the state of things in the US economy. Retail sales decreased by 8.7% (the forecast was -8%), which was the strongest drop in the entire history of observations (since 1992). Industrial production fell by 5.4% (forecast - a decrease of 4%), which...
Investors are definitely yearning for risk and buys; as a result their perception of reality has become one-sided positive. And they have reasons for that. Let's go over the main positive news. The statistics on the epidemic both in the world as a whole and in the USA in particular, and especially in Europe, generate more and more optimism: the number of new...
The start of the week because of the weekend in Europe turned out to be rather quite. There were no explosions of volatility and big movements in the oil market. There was silence in the foreign exchange market too. In general, it was unusually calm in the informational background as well. Today is interesting for publishing forecasts from the IMF concerning the...
Traditionally, the week turned out to be extremely eventful and interesting: the pandemic did not subside, despite hopes, damage to the economy grew, governments and the Central Banks announced new programs to support the economy, a super-cartel was formed in the oil market - in general, it wasn’t boring. OPEC, first transformed in OPEC +, now become (or not)...
The signs of stabilizing pandemic and the positive Fed relieving package have been shown. The S&P cross the EMA 200 and positive MACD. V-shape recovery ahead. Be optimistic. Happy Easter Day.
The main events of the week came yesterday, it is not surprising that the afternoon was exceptionally eventful. We will analyze the events in chronological order. The statistics on jobless claims in the United States again came out worse than expected (6.6 million with a forecast of 5.25 million) and in general shows an extremely sad picture: in just 3 weeks, the...
Stock markets yesterday stormed new local peaks. The latest data from Spain and Italy show that, apparently, the peak of the epidemic in the countries has been passed: the number of new infections and deaths shows a steady downward trend. China in turn shows 0 (zero) new cases of infections. And April 7 is the end date of the lockdown in Wuhan. As the result...
Despite the fact that the general epidemiological situation in the world is still extremely unfavorable, some “hot heads” in the financial markets have again started to show impatience and predict end of “lockdowns” around the world in the nearest future. As a result, stock indices crawled up even against the backdrop of absolutely failed statistics from the US...
Traditionally for the current crisis times, the last week made a number of records. Moreover, the records were quite diverse. We start, of course, with the maximum one-day increase in the oil market history. It was recorded on Thursday after Trump announced in a tweet the resurrection of OPEC + with production cuts from 10 to 15 million b/d. Saudi Arabia on the...
The main event of yesterday was another revolution in the oil market. More precisely, Trump's verbal intervention announcing it. It is about the tweet of the President of the United States where he noted that he is awaiting the announcement of an agreement between Russia and Saudi Arabia on the reduction of oil production. The size of reduction is not 2-3 million...
We wrote yesterday that the optimism in the financial markets at the start of the week is very premature and this will end with another round of decline in the stock markets. Actually, this is what happened. The reason for the decline was Trump's acceptance of reality, which he so stubbornly denies. In his last speech, the US President admitted that the main...