Market News & Blog

Markets Morning: Crude surges through $44, ECB position squaring knocks Euro lower, stocks marginally higher

Crude oil surged again last night on solid inventory data and short covering. That helped commodities broadly and underpinned relative positivity in stock markets. The US dollar was marginally stronger also as Euro squaring before ECB tonight and thoughts of more BoJ easing next week loom on the horizon. 

US$ partially recovers lost ground as Kuwaiti oil strike ends, sending WTI lower

Risk appetite remained strong today - at least until the news that the Kuwait oil strike was over - with US stocks making new 2106 highs and WTI also initially enjoying another firm session, although it then fell back on the release of the Kuwaiti news.

EU Open - Commodity currencies under pressure as USD recovers; GBP declines ahead of employment data

Asian equity markets are mixed this morning, with the Nikkei and Australia’s ASX up, but China’s CSI 300 down more than 3 % on the day. Oil prices fell overnight after it was announced that the Kuwait oil worker strike has ended.

Video: Market Morning - 20 Apr

It's been another really interesting night with the risk rally in full swing, particularly in the commodity and commodity currency space. Last night we saw Oil up 3% at one stage, back up around $42, it's down a little bit in early trade today but it's been an overall good night. Iron Ore in Shanghai has been up around 5%. The Thompson Reuters CRB Index was up around 2% last night - that's a really good sign that this surprising risk-on feeling is continuing.

Markets Morning: A risk rally in full swing, stocks, Crude oil, and $AUDUSD all higher

The risk rally continues with solid rises in commodity markets underpinning gains in stocks and currency markets. Crude oil and iron ore, along with the CRB index, rocketed higher last night. That left the S&P 500 with a close at 2100 and the Aussie dollar above 78 cents. On a quiet data week there seems little but traders own fears to derail the move in the very short term.

Commodities Brief - Silver and Cocoa break above key resistance

It has been a big day for Silver. The metal cleared 16.36 resistance and rallied sharply, extending gains to 17.07 earlier. Silver has been very well bid for several weeks now and while Gold and Silver have usually caught a bid in times when the market is in a "risk-off" mode, they are now mostly benefiting from broad USD weakness and recovering commodity prices.

EU Open - Commodity currencies bid; Aussie $ extends gains, Kiwi breaks above 0.70

The Reserve Bank of Australia (RBA) released their meeting minutes overnight and the comments were in line with the previous ones made by the bank. The RBA noted that the labour market is noticeably stronger than a year ago and that data suggests the Australian economy grew moderately in Q1 of this year.

Sky News Business Interview with AxiTrader's Greg McKenna, 15 April 2016

Sky News Business's Carson Scott interviews Greg McKenna, Chief Market Strategist at AxiTrader, on the week's movements in trading, employment data and the Australian economy.

Markets Morning: $AUDUSD, crude oil, and stocks rally as traders reverse Asian weakness

Doha, phewy! Crude oil is back at $40 this morning and the AUDUSD is up at a fresh 10 month high amid a solid risk rally as traders shook off the early Asia weakness. No doubt some of the strength will also have been short covering as sellers got caught by the big down move and then reversal. There is a feeling of risk on in global markets - how long can it last.

Markets in Focus - US dollar: Boston Fed's Rosengren says rates in the US should rise faster than the market expects

The period of US dollar weakness could be coming to an end as markets stabilise, thus freeing the Fed to return to its tightening cycle. In a speech overnight Boston regional Fed governor Eric Rosengren made a compelling case that the market is underestimating the chances of Fed moves and in doing so highlighted that forex traders may need to be on alert for a US dollar reversal. 

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