OANDA MarketPulse

OANDA MarketPulse
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MarketPulse is a forex, commodities, and global indices, analysis, and news site. Our main goal is to provide timely and informative commentary on major macroeconomic trends, technical analysis, and worldwide events that impact different asset classes and investors.Established in 2006 by a team of securities analysts, MarketPulse publishes insightful commentary daily with full-time coverage of the world’s largest financial markets.
Gold crumples again overnight as Bitcoin futures start trading, setting the scene for lower levels.I suspect it is no coincidence that the day that Bitcoin futures officially started trading, gold prices dropped in an otherwise sideways overnight session in most markets. The Commitment of Traders Report showed a substantial...
Oil is under pressure in  Asia after comments from Kuwait over the weekend.Oil continued its sideways consolidation on Friday, as both Brent and WTI rode the coattails of a general commodities rally to finish at 63.57 and 57.25 respectively. The picture has not been so bright this morning, as Kuwait’s...
European Commission to Recommend Moving onto Phase Two of Brexit Negotiations European equity markets are poised to open higher on Friday, buoyed by the news that the UK and the EU have come to an agreement on the three contentious issues that make up phase one of the Brexit negotiations.After...
Oil prices have recovered slightly in Europe but are far below the massive selloff levels from overnight, and the pain may not be over yet.Oil prices tanked overnight with Brent falling 2.20% and WTI 2.60%; their biggest one day falls in over a month. Both contracts were wobbling yesterday...
he British pound has posted slight losses in the Wednesday session, continuing the downward movement we’ve seen for most of the week. In North American trade, GBP/USD is trading at 1.3384, down 0.44% on the day. On the release front, there are no British events on the schedule. In the...
The still heavy long positioning in the U.S. precious metals futures are about to have their metals tested if the charts are anything to go by.GoldLong-suffering bullish gold traders had more reason to worry overnight, as they looked up into the sky and saw the vultures circling over their positioning....
The Canadian dollar continues to move higher on Tuesday, after starting the week with slight gains. Currently, USD/CAD is trading at 1.2644, down 0.24% on the day. On the release front, both Canada and the US release Trade Balance, and the US will also publish ISM Non-Manufacturing PMI. On...
The DAX index has losses on Tuesday, erasing the small gains seen on Monday. Currently, the DAX is at 13,000.00, down 0.45% on the day. On the release front, German Final Services PMI edged lower to 54.3, short of the forecast of 54.9 points. Eurozone Final Services improved to 56.2,...
The euro has posted slight losses in the Monday session. Currently, EUR/USD is trading at 1.1847, down 0.47% since the close on Friday. On the release front, Eurozone Sentix Investor Confidence dropped to 31.1, short of the estimate of 32.3 points. Eurozone PPI gained 0.4%, matching the forecast. In...
The USD/CAD lost 1.55 percent on Friday. The currency pair is trading at 1.2695 after the Canadian jobs number defied expectations with a 79,500 positions added in November. Monthly gross domestic product (GDP) came in higher at 0.2 percent but in fact confirmed the slowdown of the economy as...
Vienna readies for OPEC decision day as markets see a final shuffling of the positioning chairs before today’s fireworks.Crude oil had a very choppy session overnight as the street chased its tail back and forth on rumours and headlines ahead of today’s official OPEC meeting in Vienna. Both Brent...
The DAX index has posted strong gains in the Wednesday session. Currently, the DAX is at 13,190.00, up 1.00% on the day. On the release front, Germany releases Preliminary CPI, which is expected to accelerate to 0.3%. In the US, Preliminary GDP is expected to post a strong gain of...
Both Brent and WTI crude continue to drift lower ahead of Thursday’s OPEC/Non-OPEC meeting in Vienna.The divergence in price behaviour between Brent and WTI continued overnight. Although both contracts fell, WTI had much the worse of it, falling 1.90% to 57.65 as the overbought technical indicators and the imminent...
Oil trading shows signs of life in Asia trading with, WTI dropping on a higher Baker Hughes while Brent holds steady.The price action in crude diverged in Asia this morning with WTI falling 0.40% to 58.55 while Brent crude enjoyed a small 0.12% gain to 63.88. The difference in...
The Canadian dollar has ticked lower in the Friday session. Currently, USD/CAD is trading at 1.2715, up 0.05% on the day. On the release front, there are no major indicators. Canada releases Corporate Profits, and the US will publish manufacturing and services PMIs.Janet Yellen is winding up her term...
Revised UK GDP Figures Eyed as OBR Lowers ForecastsThe ONS will release second quarter GDP data for the UK this morning, which is expected to be unrevised from last month’s preliminary reading of 1.5%. If the OBR’s forecasts – as revealed by Chancellor Philip Hammond in yesterday’s Autumn –...
Keystone pipeline travails and a more substantial than expected drop in crude inventories saw crude gush higher in Asian trading.WTI races higher in Asian trading as TransCanada announced it would reduce shipments by 85% on its Keystone crude pipeline until the end of November. It is due to its attempts to...
After starting the week with losses, the euro has settled down in the Tuesday session. Currently, EUR/USD is trading at 1.1734, down 0.00% on the day. In economic news, there are no eurozone indicators on the calendar. The US will release Existing Home Sales, with an estimate of 5.42...
Precious metals benefit from the street’s mass dollar exit on Friday with both gold and silver making pleasing technical developments. Gold Gold’s umbilical-like inverse price action to the U.S. dollar has been once again underlined on Friday. As the U.S. bowed before all and U.S. yields dropped, Gold rocketed higher and...
The DAX index is slightly lower in the Friday session. Currently, the DAX is at 13,018.00, down 0.22% on the day. On the release front, Eurozone Current Account jumped to EUR 37.8 billion, crushing the estimate of EUR 30.2 billion.The DAX steadied on Thursday, ending a nasty streak of six...
BoE Rate Hike Questioned as UK Data DisappointsEuropean equity markets are expected to bounce back at the open on Thursday following a similar move in Asia overnight as traders eye more data from the UK and the US.While the most important event impacting the pound over the last couple...
Oil prices tanked overnight as an overbought commodity market finally ran out of steam.The long-awaited short-term correction in oil prices finally occurred overnight with Brent and WTI, both plunging some 3% as commodities prices, in general, were cratered on fears of slowing growth in China. To be fair, given...
Chinese Data Shrugged Off as Equity Markets Edge Slightly LowerEuropean equity markets are expected to open a little lower on Tuesday, following similar moves in Asia overnight and a flat opening session in the US.There doesn’t seem to be much really driving the markets right now and what little...
Crude’s recent price action remains uninspiring with technical indicators still very overbought.Crude oil limped into the weeks end with both Brent and WTI finishing nearly unchanged, as they effectively had for the previous five days, marking the end of a sideways week. As the dust settles on the intraday...
Technical resistance and overbought short-term indicators are setting of more red lights on Brent and WTI charts as we head into the week’s end.Oil traded with lots of noise overnight, but ended the session becalmed, with both contracts closing within 30 cents of their opening levels. This has been the...
It's been a week of reflection for financial markets, partially due to the number of major economic events that took place last week but also the sheer absence of any this week.In this week’s update, Senior Market Analyst Craig Erlam touches on some of last week's most notable events...
The short-term technical picture for crude oil’s rally gets even more cloudy following overnight inventory data.Oil prices spiked higher initially overnight to test the week’s highs before an unexpected rise in the EIA Crude Inventories, pulled the rug from under oil’s feet. Both Brent and WTI gave back all...
Our weekly journey through the precious metals and commodities CFD’s available with OANDA. Jeffrey analyses each using a combination of technical and fundamental analysis.Its been all action this week as crude oil maintains its charge higher as Brent and WTI make 2-year highs. This has also woken Natural Gas...
Gold coat-tailed the commodities rally overnight to post a one percent gain and close at 1281.70, unwinding all of Friday’s losses.The mass arrests of prominent officials and businesspeople in Saudi Arabia appears to have spooked the markets with oil in particular and base metals all producing spectacular gains.Asia has...
Gold and Silver are looking shaky as the week starts, with Saudi Arabia’s new broom looking as if it will provide only temporary relief.GoldThe U.S. dollar reigned supreme following Friday’s U.S. employment data which was bad news for gold, as it wilted and fell from its highs at 1280.60 to 1265.50...