Today the datas came out for Core Durable goods from USD with better than expected and but worse than previous.
Crude Oil inventories had a built up than last time but a draw than previous.
In the news today, OPEC reached a deal to curb output today after the many failed attempt negotiations, and WTI went up with large green candle to close above $45 and around $47 per barrel.
FED Yellen spoke today but offered no comments on monetary policy; she commented on increasing banking regulations, the other Fed non voting member Evans stated the low interest rate environment in USA might be last for some time. Another FED member Mester had different views and thought the FED should have raised rate in Sep to keep its promise.
ECB Draghi also spoke today and stated the low interest rates are needed to revive growth.
The equity markets were all green today and seems to be a risk on sentiment day.
This could be the effect from soaring oil price today, the low interest rate environments and no there significant risk events today.
RBNZ commented again on overvalued currency and the stability of financial risks and imbalances in the housing market; basically same concerns but more hint on cutting rate in the near future.
BOE Shafik commented the possibility of cutting rate.
So to sum up, slightly negative datas from USD today but the main drive for the market is the OPEC meeting which caused oil price to soar, hence further pressured the USD.
The many comments of low interest rate from ECB, BOE, NZD, FED some members plus the high oil price all helped the market to be a risk on sentiment today as the equity markets were all up.
Technically,
EUR is still a weak currency to trade especially the new talk of low interest environment from ECB, however, because it’s a risk on sentiment today, currencies such as CHF & USD all in weak positions and had no movement when versus EUR.
JPY is once again being bought regardless of the risk tone today especially when against EUR or CHF; as there are no major movement for JPY, USD, CHF.
Surprisingly, NZD actually performed worse than EUR regardless of the risk on sentiment and high interest rate status; i can only guess the market was overshadowed by the interest rate cut as RBNZ once again stated the possibilities.
GBP also had no particular movement today, only large sold off versus CAD but it was the same for all currencies versus CAD due to the OPEC agreement today.
AUD was doing very well today due to the help of risk on sentiment.
Crude Oil inventories had a built up than last time but a draw than previous.
In the news today, OPEC reached a deal to curb output today after the many failed attempt negotiations, and WTI went up with large green candle to close above $45 and around $47 per barrel.
FED Yellen spoke today but offered no comments on monetary policy; she commented on increasing banking regulations, the other Fed non voting member Evans stated the low interest rate environment in USA might be last for some time. Another FED member Mester had different views and thought the FED should have raised rate in Sep to keep its promise.
ECB Draghi also spoke today and stated the low interest rates are needed to revive growth.
The equity markets were all green today and seems to be a risk on sentiment day.
This could be the effect from soaring oil price today, the low interest rate environments and no there significant risk events today.
RBNZ commented again on overvalued currency and the stability of financial risks and imbalances in the housing market; basically same concerns but more hint on cutting rate in the near future.
BOE Shafik commented the possibility of cutting rate.
So to sum up, slightly negative datas from USD today but the main drive for the market is the OPEC meeting which caused oil price to soar, hence further pressured the USD.
The many comments of low interest rate from ECB, BOE, NZD, FED some members plus the high oil price all helped the market to be a risk on sentiment today as the equity markets were all up.
Technically,
EUR is still a weak currency to trade especially the new talk of low interest environment from ECB, however, because it’s a risk on sentiment today, currencies such as CHF & USD all in weak positions and had no movement when versus EUR.
JPY is once again being bought regardless of the risk tone today especially when against EUR or CHF; as there are no major movement for JPY, USD, CHF.
Surprisingly, NZD actually performed worse than EUR regardless of the risk on sentiment and high interest rate status; i can only guess the market was overshadowed by the interest rate cut as RBNZ once again stated the possibilities.
GBP also had no particular movement today, only large sold off versus CAD but it was the same for all currencies versus CAD due to the OPEC agreement today.
AUD was doing very well today due to the help of risk on sentiment.
