The greenback, tracked by the US Dollar Index, is extending its downbeat momentum and putting the 97.00 handle under further pressure.US Dollar in 2-week lowsThe index is retreating for the second consecutive week so far, extending the rejection from r…

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Oil prices at both the sides of the Atlantic fell in the US session as the China-led risk aversion eventually weighed over prices.

At the time of writing, Brent futures were down 2% at $ 40/barrel levels. WTI futures were down 2.61% at $36.90/barrel.

Brent prices clocked a high of $41.46 in the early US session on talks of production freeze/cut by major producers. However, China-led risk-off in the European and US equities eventually pushed oil into losses.

Moreover, a sharp drop in China’s exports and imports stoked fears about the possibility of a drop in China’s oil demand and the resulting delay in supply-demand match. Traders now await US American Petroleum Institute inventory data.

Brent Technical Levels

The immediate support is seen at 39.38 (Dec 15 high), under which prices could drift lower to 38.96 (Jan 4 high) – 38.82 (100-DMA). On the other hand, a break above 40.78 (50% of Aug 31 high-Jan low) could see prices re-test the daily high of $41.46.

Oil prices at both the sides of the Atlantic fell in the US session as the China-led risk aversion eventually weighed over prices.

(Market News Provided by FXstreet)

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Long duration Treasury note prices rallied, pushing the yields lower after China data reignited fears of slowdown in world’s second largest economy and triggered a flight to safety.

At the time of writing, the yield on the benchmark 10-yr Treasury note was down more than 7 basis points at 1.827%. The 30-yr yield was down almost 8 basis points at 2.624%.

Long duration treasury notes are more sensitive to the risk-on/risk-off. Meanwhile, 2-yr Treasury note, which mimics short-term rate hike expectations, was down more than 3 basis points at 0.874%.

Moreover, the financial market instability acts as a roadblock in Fed’s plans to hike rates. Consequently, 2-yr Treasury note also took a hit.

China data released earlier today showed imports tanked 13.8% y/y in Feb. Exports tanked 25.4% y/y as well.

Long duration Treasury note prices rallied, pushing the yields lower after China data reignited fears of slowdown in world’s second largest economy and triggered a flight to safety.

(Market News Provided by FXstreet)

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The bid tone around JPY strengthened following a weak opening on the Wall Street, pushing the GBP/JPY cross to a session low of 159.76 levels.

Dips below 23.6% Fibo

The pair now trades well below 160.32 (23.6% of 175.02-155.78) levels. Yen ticked up in early Europe following the risk-off in the equities, but the cross managed to recovery above 160.32. However, a 0.60% drop in the Dow Jones made sure the cross fell to fresh session lows.

Furthermore, Cable also dropped below 1.42 levels after Bank of England’s Carney came signaled a possible sell-off in Sterling if Britons vote in favor of Brexit.

GBP/JPY Technical Levels

The pair currently trades around 159.85 levels. The immediate support is seen at 159.80 (Feb 11 low), under which the cross could drop to 158.55 (Feb 26 high). On the other hand, a break above 160.32 (23.6% of 175.02-155.78) could send the cross higher to 161.00 handle.

The bid tone around JPY strengthened following a weak opening on the Wall Street, pushing the GBP/JPY cross to a session low of 159.76 levels.

(Market News Provided by FXstreet)

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Quotations of contracts for US indices pointed to a downward start on Wall Street. The opening on Wall Street is downward, but the market is not much lower compared to yesterday at the same time, S&P 500 hovering below the level of 2000. Weaker US …

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The single currency has abandoned the vicinity of 1.10 the figure vs. the greenback and is now lifting EUR/USD to flirt with daily highs around 1.1060.EUR/USD tests the 200-day smaAfter a brief adventure to daily lows near the 1.1000 handle, the pair h…

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AUD/USD pulled back from yesterday’s multi-month high during the Asian session amid weaker-than-expected Chinese trade data, although with the downside contained by the 0.7410 zone, the pair managed to resume the advance over the last hours.

After hitting an 8-month peak of 0.7484 on Monday, AUD/USD staged a mild pullback that found support around 0.7410 and turned back higher, climbing to a daily high of 0.7469 in recent dealings. At time of writing, the pair is trading at 0.7449, virtually unchanged on the day.

AUD/USD levels to watch

In terms of technical levels, next resistances are seen at 0.7484 (Mar 7 high), 0.7532 (Jul 6 2015 high) and 0.7648 (Jul 3 2015 high). On the flip side, supports could be found at 0.7392 (Mar 8 low), 0.7339 (Mar 4 low) and 0.7253 (200-day SMA).

AUD/USD pulled back from yesterday’s multi-month high during the Asian session amid weaker-than-expected Chinese trade data, although with the downside contained by the 0.7410 zone, the pair managed to resume the advance over the last hours.

(Market News Provided by FXstreet)

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The offered tone around Canadian dollar strengthened as oil prices retreated from 2016 highs, sending USD/CAD to session high of 1.3360 levels. Back above 200-DMAThe spot failed to its 200-DMA yesterday for the first time in September 2014. Pair dipped…

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