Subscribe to RSS

Forex Market Overview:  Oil decline resumes 2/2/2016

US stocks erased early losses and closed nearly unchanged on Monday as oil prices resumed the decline after four days of gains. The dollar weakened, live dollar index data indicate the ICE US Dollar Index, a measure of the dollar’s value against a basket of six major currencies, fell 0.6% to 99.002. The Dow Jones Industrial Average ended 0.1% lower at 16,449. Exxon Mobil was the worst performer among the Dow components, closing down 1.7%. The S&P 500 was 0.1% lower with energy and financials stocks leading the decliners, down 1.9% and 0.6% respectively. The afternoon rally reversed early losses after disappointing economic reports raised expectations Federal Reserve will implement fewer rate hikes than the four indicated by policy makers in December statement. Consumer spending was flat in December despite 0.3% rise in incomes as Americans increased their savings and paid off debts. The better than expected Institute for Supply Management manufacturing index of 48.2 in January following 48 in December indicated US manufacturing activity contracted for the fourth straight month. According to CME Group’s FedWatch tool federal funds futures traders are now pricing in only a 17% likelihood that the Fed will raise rates in March. Today at 16:00 CET February Economic Optimism Index will be released by Investor’s Business Daily. And at 19:00 CET Federal Reserve Bank of Kansas City President Esther George will speak on US economy in Kansas City.

European stocks fell on Monday as reports showing slowing of manufacturing activity in euro-zone and China undermined investor confidence. The euro strengthened against the dollar as investors reversed euro-funded trades in higher-yielding currencies of emerging economies as oil prices fell. The Stoxx Europe 600 closed down 0. 2%. Germany’s DAX 30 fell 0.4% to 9757.88, France’s CAC 40 and UK’s FTSE 100 indexes dropped 0.6% and 0.4% respectively. Lower final reading of Markit’s euro-zone manufacturing activity index of 52.3, down from 53.2 in December, added to concerns about slowing China’s economy. Benoit Coeure, member of the ECB executive board, said the bank will possibly revise its quantitative easing measures in March, indicating likely expansion of stimulus measures to boost euro-zone economy. Today at 09:55 CET German Unemployment Change and Unemployment Rate for December will be published in euro-zone. The tentative outlook is neutral. At 11:00 CET December Unemployment Rate will be released in euro-zone. No change in unemployment is expected. At the same time December Producer Price Index will come out in euro-zone. It is expected to fall 0.4% on month after declining 0.2% the previous month.

Nikkei ended 0.6% lower today as investors booked in profits after the rally following the Bank of Japan’s surprise decision last Friday to adopt negative interest rates. Chinese shares advanced today despite disappointing manufacturing data the previous day indicated manufacturing activity contracted for the sixth straight month.

Oil futures prices continue declining today after closing sharply lower on Monday on concerns of lower demand outlook from China. March WTI dropped 6% to $31.62 a barrel on the New York Mercantile Exchange after posting about a 10.8% gain in previous four trading sessions. Prices rose last week as market participants expected Russia and OPEC would start talks on cooperation to cut crude oil output. Official data today showed Russia’s oil output rose to 10.88 million barrels-per-day in January, up from 10.83 million bpd in December.

0 commentsback to post

Add your comment

Nickname:
E-mail:
Website:
Comment:

Other articlesgo to homepage

123% Tradable Deposit Bonus Promotion – FreshForex

123% Tradable Deposit Bonus Promotion – FreshForex(0)

Get 123% Tradable Deposit Bonus Promotion gives a real chance to start Forex trading with low investment and double return. Start efficient Forex trading with Tradable Bonus 123% Campaign. Link:  123% Tradable Deposit Bonus Promotion Link:  $5 Forex No Bonus Promotion Ending Date:  31 December 2017 Available to:   New Clients only Bonus Offer: Get 123%

500 Cent Forex No Deposit Welcome Bonus – FortFs

500 Cent Forex No Deposit Welcome Bonus – FortFs(0)

Get 500 Cent Forex No Deposit Welcome Bonus 2017-2018 to All New Traders. Open a forex real trading account, pass the personal data verification procedure and get the 500 Cent Free Forex Welcome Bonus! Link:  Up to 50% Bonus of Every Deposit Link:  500 Cent Forex No Deposit Bonus Link:  15% Support Margin Bonus Available

$10000 Monthly Challenge Live Trading Contest – FXCM

$10000 Monthly Challenge Live Trading Contest – FXCM(0)

$10,000 Monthly Challenge Live Trading Contest Compete to Win Cash Prizes. The Contest only available to FXCM Mini Account clients Join the monthly Live Trading Contest by opening an FXCM Mini Account with as little as $50. Link:  $10000 Monthly Challenge Contest Available to: All Mini Account clients Contest offer: $10,000 Monthly Challenge Live Trading

$1000 Free No Deposit Forex Bonus – Grand Capital

$1000 Free No Deposit Forex Bonus – Grand Capital(0)

Contests for Forex trader Main Prize $1000 Free No Deposit Forex Bonus. The Contests main prize is $1000 Free No Deposit Forex Bonus with fully withdraw able profit Link:  $1000 Free Bonus‎ Trader Contest Link:  $500 Forex No Deposit Welcome Bonus Link:  Up to 444% Profit Receive for a single trade Link:  40% Forex Deposit

Up to $5000 Trading Credits Bonus Promo – HYCM

Up to $5000 Trading Credits Bonus Promo – HYCM(0)

25% Forex Credit Bonus Promo available on your Deposits. Experience Some of HYCM New Features, Services and Offers Receive 25% Forex trading credit bonus Link:  25% Trading Bonus on your Deposits Ending Date:  31 December 2017 Available to:   New Clients only Bonus Offer: 25% Forex Trading Bonus Promo Available on your deposits to New Clients only.

$20 Forex No Deposit  Bonus Promo Action – NPBFX

$20 Forex No Deposit Bonus Promo Action – NPBFX(0)

$20 Free No Deposit Bonus Promo action. $20 Free No Deposit Bonus Client must submit application of requesting the accrual of bonus funds with indicating the number of trading account by email  info@npbfx.com. Link:  $20 Free Bonus Promo Action Ending Date:  1 March 2017 Available to:   New Clients only Bonus Offer: $20 Free No Deposit

300% Forex Tradable Bonus Promotion 2017 – MarketsYes

300% Forex Tradable Bonus Promotion 2017 – MarketsYes(0)

300% Forex Tradable Bonus Promotion All New and existing clients. MarketsYes is offering all prospective clients deposit for up to 3000 USD/EUR/GBP a 300% Tradable Bonus. Link:  300% Tradable Bonus Promotion Available to: All New and existing clients Ending Date: 31 December 2017 Bonus offer:  300% Tradable Bonus Promotion All New and existing clients. SETTLEMENT

FX Zones Forex Demo Trading Contests – Forex Time

FX Zones Forex Demo Trading Contests – Forex Time(0)

FX Zones Forex Demo Trading Contests 2017 Win up to a total of $12,000. ForexTime is doing something extra special with its trading contests this year, starting with FX Zones Forex Demo Trading Contest  2017 Link:  Demo Forex Trading Contest Link:  Loyalty Cashback Promotions Link:  200% Withdraw-able Cashback Rebates Available to:   New Clients only Contest

Get $88.8 Forex Free No Deposit Bonus – FBS Inc

Get $88.8 Forex Free No Deposit Bonus – FBS Inc(0)

Get $88.8 Forex Free No Deposit Bonus when you open your first FBS Real Account. The $88.8 Free Forex bonuses is credited automatically after account opening, upon verification of the clients phone number and e-mail. Link:  $123 Forex No Deposit Bonus Promotion Link:  $88.8 Lucky No Deposit Required Bonus (for Malaysian traders) Link:  100% Forex

100% Welcome Bonus to Your First Deposit – AvaTrade

100% Welcome Bonus to Your First Deposit – AvaTrade(0)

100% Special Welcome Bonus Offer to your first deposit Up to $300. Start trading today and in honor of our Irish roots we’ll give you a St. Patrick Day special Welcome bonus of up to 100% Link:  100% Special Bonus to Your First Deposit Available to: All new account Ending Date: 31 December 2017 Bonus

read more

Forex Featured Broker

Contacts and information

ForexDepositNews.com Forex Deposit Bonus, Forex No Deposit Bonus, Forex Live Contest, Forex Demo Contest, Free Forex Bonus Forex Brokers Review and Other All Forex promotions.

ForexDepositNews.com

Social networks

Most popular categories