Posts Tagged: crude oil

There are a lot of concerns dominating the trading market at the moment and, as we have seen during the previous days, there are some currencies which have lost territory due to these concerns. But, despite of the fact that the situation in Europe continues to remain just partially solved, it seems like traders are experiencing a cautious optimism which has led to the growth of some of the most important currencies around the world.

The Japanese Yen is one of the currencies which grew today based on the fact that investors are seeking for safety as a result of the concerns related to the Greek bailout and to the spreading of the debt crisis to other European countries such as Italy, Spain and Portugal. Moreover, traders feel even more concerned due to the referendum which is expected to take place in Greece, which could have a negative outlook, leading thus to the default of the Greek Read more »

Despite of the global economic crisis and of the numerous problems with which economies are confronted at the moment, the Euro and the Canadian Dollar have managed to finish the week incredibly well.

The Euro has registered this week the biggest gains in the last two years. This is due to the optimism of the Forex traders related to the ability of the European officials of solving the problems with which the European Union is confronted at the present moment. As a matter of fact, this new wave of optimism has had a positive effect upon the currency in the last several weeks, not just now. This is mainly related to the promise made by the German Chancellor, Angela Merkel, and the French President, Nicolas Sarkozy, related to the fact that they are going to find a solution in order to solve the sovereign debt crisis in the European Union. This promise has had a positive effect Read more »

The crisis in the European Union has had quite an effect upon the currencies in Canada, Russia and South Africa today. There are signs that the expected global economic recovery is not going so well, which have caused an unpredicted evolution of some other currencies in the world.

The Canadian Dollar decreased today due to the fact that cooper and oil prices have fallen due to the evolution of the economic crisis. This has caused the Canadian Dollar to trade just a few cents of parity with the US Dollar. The crude oil’s value decreased today, reaching the value of $88.54 per barrel in New York. This is the most important Canadian export, so it has quite an influence upon the value of the currency. On the other hand, the value of the cooper fell by 1.6 percent, reaching the price of $8.630 per metric ton. These are not the only raw materials which have decreased, as the Read more »

There has been economic news today which makes us believe that the risk aversion is falling again. The European debt crisis seems to find solutions on the aid from China, while the Canadian market seems to evolve slowly, but certainly. Based on these facts, the Canadian Dollar and the Japanese Yen have registered growths against most of their major counterparts.

The Canadian Dollar gained territory against its major counterparts due to the fact that the value of stocks and the one of the crude oil have advanced. This evolution has reduced the risk aversion which has been once more detected on the trading market and has improved the prospects of the growth-related currencies. It seems that the pessimistic outlook on the markets seemed to recede a little, despite the fact that there are lots of market analysts who believe that this evolution is not going to last for a long period of time and that the risky assets Read more »

The Canadian Dollar has only managed to grow against the US Dollar today, but fell against all its other counterparts due to the fact that traders are looking for higher yielding assets on the market. The growth against the US Dollar can be explained through the fact that the trading sentiment is improving, making investors willing to risk a little bit more. On the other hand, the currency fell against the Euro and the Japanese Yen, which are higher-yielding assets than the Canadian Dollar.

We can notice that the Producer Price Index in the US, which is the most important trading partner of Canada, has increased by 0.2 percent during the month of July, after it has previously fallen by 0.4 percent during the month of June. Due to the global economic situation, market analysts were expecting no change, so this growth actually came as a surprise which has helped to the improvement of the Canadian Dollar’s situation. Read more »

The US Dollar has continued to fall against its major counterparts both during the Asian and the European trading sessions as it became clear for everybody that neither Democrats nor Republicans are willing to give way from their political views, although this brings the largest economy of the world closer to the brink of default with every given day passing by.

The US President, Barack Obama, stated yesterday during a press conference that the consequences would be immense, as the default rating would spark “deep economic crisis”. Despite the fact that the discussions seemed to advance and that the lawmakers seemed to have finally reached a solution, it looks like the situation is actually contrary to these expectations as both sides are entrenched in appear to be statements of definitive policy rather than merely political posturing.

This has caused the US Dollar to be crushed during the overnight trade. The hopes that the problem of the Read more »

What has recently happened?

  • The Canadian Dollar has been surging after the moment when the BoC Governor has offered a distant view of the rate hikes
  • The Canadian Dollar started to lose the ground which it has managed to gain based on the interest rate speculation

The Canadian Dollar has registered a decrease at the end of the previous week of trading based on the fact that the crude oil’s price has recently declined and on the fact that the US labor market has significantly decreased, managing to outstand the anticipations of any analyst and trader.

The crude oil, which is the most important export of the Canadian economy, has recently decreased by another 0.2 percent, gathering a fall of 0.4 percent over the entire trading week. Moreover, the unfavorable effect of the payrolls and of the increase of the unemployment claims in the United States is one of the major factors which have Read more »

Along with the other significant changes on the market which caused the EUR to be in a difficult situation and the USD to fluctuate a lot, the Canadian Dollar’s position changed as well. The Canadian Dollar managed to extend its rally today and to continue to grow against the US Dollar for the fourth day in a row. This change has been possible due to the fact that traders are still taking advantage of the USD’s weaknesses. Another important factor which is not to be neglected is that the downward trend behind the trading rate of commodities, including crude oil, has reversed and commodities started to rally.

The week before showed us a small price for the crude oil, but the current week brought an increase by 1.30 percent. This trading price is the highest level the crude oil managed to achieve in the four days after starting to trade on speculation that flooding of the Mississippi Read more »

The situation on the trading market has known important changes yesterday as the news related to the fact that Osama bin Laden has been killed has been released. This has been advantageous news especially for the safe currencies such as the US Dollar, the Japanese Yen and the Swiss Franc. Nonetheless, there is still a great combat between these currencies, as the US remains in great debt and Japan is still not yet totally recovered from the earthquake. During this time, the Switzerland seems to develop greatly and to provide a remarkable safety trading sentiment. On the other hand, commodity currencies have been affected in a negative way by this news, causing them to decrease in value and to fall in demand. Of course, this is not only related to the news on Osama’s death, but also to the fact that there are still economical issues that have to be resolved.

One of the currencies that have Read more »

The crude oil is now facing a less good period now than last week, tracking stocks and searching for a direction in earnings. The crude oil has been traded at $112.86, up only by 0.09 percent. The trading prices are below resistance at $113.44, which has been the high level from the 11th of April, and a barrier which has been reinforced by support-turned-resistance at an ascendant trend set based on the lows in mid-February. This means that a further decrease is to seek for initial support at $109.37, which is the 23.6 percent Fibonacci retracement of the 3/16-4/11 advance. While the WTI contract still remains firmly anchored to the MSCI World Stock Index, the risk trading sentiment is still to be a reality. The effect of this can be seen in the way in which crude oil has been traded at the end of the week, with a focus on the trading calendar, with nineteen S&P 500 Read more »