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FXLiveshow Commentary - Market News and Forecast

by Administrator, 23rd February 2017

EUR hit a lot of 1.0492 yesterday before rebounding quickly. We highlighted the patchy downward momentum and the price action was not surprising. The recovery indicates that the downward pressure has waned somewhat but as long as 1.0620 is intact, there is still room for another leg lower towards 1.0450/55. That said, this is likely only after the completion of the current short-term ‘consolidation/correction’ phase (which could last for a couple of days).

Oil slides on word non-OPEC members aren't cutting production as much as promised
by Administrator, 22nd February 2017

Crude oil prices are lower on Wednesday as traders price in a projected expansion in US crude stockpiles and following comments made by Qatar's oil minister.
US supplies probably rose by 3.5 million barrels last week, according to analysts surveyed by Bloomberg.

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