US stocks, commodities and US Dollar witnessed volatile swings this week fueled by trade war concerns after President Trump’s continued rhetoric about potentially adding an additional $100M in Chinese tariffs. This latest round and potential escalation in the back-and-fourth comments between the two nations officials steadied sentiment early in the week, but as the week progressed, markets reacted less and less to […]
http://fxlivetrader.omnovia.com/archives/352270 Oil prices moved sharply higher during the far east market open on Monday, initially reaching 66.52, just shy of the 2018 high of 66.63. Prices have recently moved higher partially due to two reasons today, first, China’s Shanghai Yuan-denominated oil futures first day of trading caused prices to bid higher as this newly available […]
Crude oil moved higher on Wednesday after the US weekly crude oil inventories report came in worse than expected with a -2.6 million barrel in inventories from last week, maintaining a draw down in inventories for 2018 and 45 million barrel draw down last 6 months. Other factors cited as motivation for traders to bid […]
Crude oil prices have remained firm this week despite Wednesday’s U.S. Energy Information Administration’s (EIA) weekly report on the change in the number of barrels of crude oil held in inventory by commercial firms during the past week coming in at +5.0 million barrel surplus. U.S. oil output hit a record last week rising to […]
Dollar suffers broad based selling during today’s early US session as US CPI data came in as expected with +0.2% for February. The prior January +0.5% may have been an anomaly and is a relief to market participants. Additionally, the US Dollar was weighed down today by political turmoil in the White House. Headline CPI […]
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