Subscribe to RSS

WTI surges to one month highs, whilst USD remains vulnerable

Global Market

WTI bulls gained inspiration during Tuesday’s trading session when US government data suggested that the global oil supply glut could be diminishing. This unexpected news resulted in the commodity not only advancing $2 but achieving its highest value in over a month at $49.00. This stronger oil price should provide strength to currencies with export linked commodity exports. Despite the inspiration gained by WTI bulls, the global themes concerning the decline in commodity prices, the slowdown in Asia and continual concerns over the pace of growth in Europe and Japan have not changed. Any elevated concerns over the global economy may lead to fears that there will be less demand for oil, which could act as a major catalyst to quell any upside momentum.

Economic data released in early October from the United States offers a valid reason for the Fed to hold off a US rate hike until 2016. Dollar weakness continues to be the theme that runs the global currency markets. Anxious market participants have reduced their bets on a 2015 US rate hike, which has exposed the USD to vulnerability throughout the currency markets. With sentiment turning bearish on the Dollar, the USD index may decline to the next relevant support based at 94.00.

It seems that the increasing speculation that further monetary stimulus is on the way from China has led equity markets higher at the beginning of the week. Although the China markets are closed for the week-long national day holiday, speculation is mounting that the PBoC are about to unleash further stimulus, and this could result in a sharp bounce when the Shanghai Composite Index reopens. While the global equity markets suffered throughout the previous quarter, they have begun the final quarter far more positively and are currently recording strong gains.

USDZAR

The USDZAR remains technically bearish on the daily timeframe as long as prices can keep below the 14.050 resistance. Prices are trading below the 20 Daily SMA and the MACD has crossed to the downside. The next relevant support is based at 13.200.

USDZAR

USDTRY

The USDTRY is technically bearish on the daily timeframe. Prices are trading below the daily 20 SMA and the MACD is in the process of crossing to the downside. Previous support at 2.990 may become dynamic resistance which should aid a move to the next relevant support based at 2.900.

USDTRY

GBPAUD

This pair remains technically bearish on the daily timeframe. Prices have breached the 2.1400 support with the next relevant support based at 2.1100. Prices are trading below the 20 SMA and the MACD has crossed to the downside.

GBPAUD

GBPCAD

The GBPCAD remains technically bearish on the daily timeframe as long as prices can keep below the 2.0100 level. The next relevant support is based at 1.9500. Prices are trading below the 20 Daily SMA and the MACD has crossed to the downside.

GBPCAD

0 commentsback to post

Add your comment

Nickname:
E-mail:
Website:
Comment:

Other articlesgo to homepage

$6000 First Deposit Bonus Limited Time Offer – XTrade

$6000 First Deposit Bonus Limited Time Offer – XTrade(0)

Up to $6000 First Deposit Bonus Limited Time Offer (T&C applied) on all Deposits for all Customers. Become an XTrade customer, and get 60% Forex Special bonuses (T&C applied) on all deposits made during your first 7 days!! Link:  $50 Free Cash Welcome Bonus Promotion  (T&C applied) Link:  $30 Free Account Verification Bonus (T&C applied) Link: 

50% Deposit Bonus and $50 No Deposit Bonus – FortFs

50% Deposit Bonus and $50 No Deposit Bonus – FortFs(0)

$50 Forex No Deposit Bonus Promo Action to all eligible clients. Every client who passed the verification process in their trader’s room can get the $50 No Deposit Welcome Bonus Link:  $50 Forex No Deposit Welcome Bonus Link:  Up to 50% Bonus of Every Deposit Link:  15% Support Margin Bonus Promo Available to: New and

15% Forex Welcome Deposit Bonus Up to $1000 – XM

15% Forex Welcome Deposit Bonus Up to $1000 – XM(0)

15% Forex Welcome Deposit Bonus Up to $1000 and $30 Forex No Deposit Bonus Welcome Bonus brings Real Account clients the best rewards available. Entering the markets and trading with XM enables you to earn from your trades and build your own bonus up to a maximum of $1,000. Link:  $30 Forex No Deposit Bonus

Free $200 Earn with Binary No Deposit Bonus – Ayrex

Free $200 Earn with Binary No Deposit Bonus – Ayrex(0)

Earn $200 Free with Binary Options No Deposit Bonus to all new activated trading account. Ayrex presents its very first Binary Options No Deposit Bonus for new traders. Sign up to get FREE $30 and turn them into a fully withdrawable $200! Link: $200 Earn with No Deposit Bonus Link:  $100 Free Win in Just One

$30 Free No Deposit Welcome Bonus Campaign – Tickmill

$30 Free No Deposit Welcome Bonus Campaign – Tickmill(0)

$30 Free No Deposit Welcome Bonus Campaign to All new traders. $30 Free Welcome Account is available to all new clients who expressed a wish for it during the registration process. Link:  $30 Free Welcome Bonus Offer Available to: All new traders Ending Date: 31 December 2017 Bonus Offer: $30 Free No Deposit Welcome Bonus

Get $2017 No Deposit Hot Bonus Promotion – FreshForex

Get $2017 No Deposit Hot Bonus Promotion – FreshForex(0)

$2017 No Deposit Hot Forex Bonus Offer to all new verified customers. The $2017 Hot No Deposit Forex Bonus offers you a unique opportunity to test trading strategies of FreshForex Link:  $2017 No Deposit Hot Bonus offers Available to: All New Traders. Ending Date: 30 April 2017 Bonus Offer: $2017 No Deposit Exclusive Hot Bonus

100% Real Money Cash Back Bonus Promotion – UFX

100% Real Money Cash Back Bonus Promotion – UFX(0)

100% Real Money CashBack Promotion 2018 to all new and existing clients. Join and gain exclusive access to the ONLY online trading 100% Cashback rewards bonus program Link:  100% Real Money CashBack Promotion Link:  $50 Forex No Deposit Bonus Promotion Available to: All new trading account Ending Date: 31 December 2017 Bonus offer: 100% Real

$15 Cashback Rebate Bonus per Lot Traded – FBS

$15 Cashback Rebate Bonus per Lot Traded – FBS(0)

$15 Cash back Rebate Forex Bonus per Lot Traded to All new traders. $15 Cashback Rebate Forex Bonus service is unavailable for the clients, who registered their accounts via their partners. Link:  $15 Cashback Rebate per Lot Traded Link:  100% Forex Deposit Bonus Promotion Link:  100% Forex Deposit Bonus Promotion Available to: All new traders

100% Easy Welcome Deposit Bonus Promo – Trade12

100% Easy Welcome Deposit Bonus Promo – Trade12(0)

Free Daily Forex Trading Signals via SMS. EMAIL. SKYPE. WHATSAPP and 100% Easy Welcome Deposit Bonus Promo to your Live Trading Account, Free E-Books Link:  Free Daily Forex Trading Signals Link:  Get 100% Welcome Deposit Bonus Link:  Get Forex Free E-Books Available to: All new clients Ending Date: 31 December 2017 Bonus Offer: Get 100%

$50 Forex Free No Deposit Bonus Promo Action – FortFs

$50 Forex Free No Deposit Bonus Promo Action – FortFs(0)

$50 Forex Free No Deposit Bonus Promo Action to all eligible clients. Every client who passed the verification process in their trader’s room can get the $50 Forex Free No Deposit Bonus Promo Action Link: $50 Forex No Deposit Welcome Bonus Link: Up to 50% Bonus of Every Deposit Link: 15% Support Margin Bonus Promo

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