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

Free $100 Non-Deposit Bonus to Everyone – PrivateFX

Free $100 Non-Deposit Bonus to Everyone – PrivateFX(0)

Free $100 Non-Deposit Bonus to Everyone for PrivateFX New Customers. Each new customer who open account from May 16 will get into his/her account a Free bonus of 100 USD to invest in PrivateFX Company’s tools Link:  $100 Non-Deposit Bonus to Everyone Available to: All new trading account Bonus Offer: Free $100 Non-Deposit Bonus to

300% Tradable Bonus plus Risk Free Trade – MarketsYes

300% Tradable Bonus plus Risk Free Trade – MarketsYes(0)

300% Forex Tradable Bonus Promotion and Risk Free Trade plus Forex Free Signals all New and existing clients. MarketsYes is offering all prospective clients deposit for up to 3000 USD/EUR/GBP a 300% Tradable Deposit Bonus. Link:  300% Tradable Bonus Promotion Link:  Risk Free Trade plus Forex Free Signals Available to: All New and existing clients

25% Forex Credit Bonus on their First Deposit – HYCM

25% Forex Credit Bonus on their First Deposit – HYCM(0)

25% Credit Forex 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.

$25 Deposit and earn $5000 Cashback Bonus – UFX

$25 Deposit and earn $5000 Cashback Bonus – UFX(0)

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

Weekly Demo Trading Contest – Adamant Finance

Weekly Demo Trading Contest – Adamant Finance(0)

Weekly Forex Demo Trading Contest 2017 total amount of the prize fund is 1300USD. We announce traders’ contest for all who want to take part and to gain prizes. Link:  $50 No Deposit Welcome Bonus Link:  Weekly Forex Trading Contest Available to: All new and existing clients. Ending Date: 31 December 2017 Contest offer: Forex

$30 Fx Bonus to Your Account Completely Free – Fidelis

$30 Fx Bonus to Your Account Completely Free – Fidelis(0)

Get $30 No Deposit Fx Bonus Promotion in your Fidelis CM account and start your forex trading career. Open your new trading account with Fidelis CM in a few simple steps and get your $30 Fx Free No Deposit Bonus credited in your account. Link:  $30 Forex No Deposit Bonus Completely Free Available to: All

Free Forex Trading Signals Promotion – Forex Time

Free Forex Trading Signals Promotion – Forex Time(0)

FXTM Free Forex Trading Signals Spotting Trading Opportunities Just Got Easier and Up to 200% Withdrawable Cashback Rebates and get $4 Cashback back for every lot you trade. Link:  Free Forex Trading Signals Link:  Loyalty Cashback Promotions Link:  200% Withdraw able Cashback Rebates Ending Date: 31 December 2018 Available to: All Customers Bonus Offer: ForexTime

Free MT4 VPS plus 100% Welcome Bonus – FXGiants

Free MT4 VPS plus 100% Welcome Bonus – FXGiants(0)

FXGiants is offering its valued Trader  the exclusive 100% Maximiser Forex Welcome Bonus. Be rewarded with this unique offer and maximise your trading potential with NO limits. Link:  $35 No Deposit Bonus Promotion Link:  100% Maximiser Deposit Bonus. Link:  20% Bonus Advantage up to $2000 Available to: All new trading account Bonus offer: $35 No

$1000 Welcome Deposit Bonus Promotions – eToro

$1000 Welcome Deposit Bonus Promotions – eToro(0)

Get Forex Welcome Deposit Bonus Promotions code by eToro Forex Broker. Trade over 900 global instruments with most advance and friendly trading platform. Link:  Top Copy Trading Social Platforms Link: Up to $1000 Welcome Deposit Bonus Available to: All new account Ending Date: 31 December 2018 Bonus Offer: Get Forex Welcome Deposit Bonus Promotions code

$50 Forex No Deposit Welcome Free Bonus – ForexBull

$50 Forex No Deposit Welcome Free Bonus – ForexBull(0)

$50 Forex No Deposit Welcome Free Bonus is available to all new clients of ForexBull as well as for those who still haven’t got any previous No Deposit Welcome Free Bonuses from the company. Link:  $50 Forex No Deposit Welcome Bonus Available to: All new trading account Ending Date: 31 December 2017 Bonus offer: $50

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