Senate Floor Approved Tax Bill; Reconciliation Next

Posted December 4th, 2017 by Jerome9277 and filed in General News

Extending the late recovery last Friday after the Senate floor’s passage of its version of the tax reform bill with a 51-49 vote, US dollar jumped across the board today. Currently trading at a 2-week high against Japanese yen, the greenback got dumped last Friday amidst new developments of the “Russia gate”. Former White House national security advisor Michael Flynn agreed to testify against the Trump administration …

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Senate Floor Approved Tax Bill; Reconciliation Next

Weekly Fundamentals – Saudi Seeks to Bring Inventory Down to "Normal" Level Via Output Cut. US Shale The Swing Factor

Posted December 2nd, 2017 by dillonlanglois0 and filed in General News

OPEC/ non-OPEC’s indication to extend the output cut deal until the end of 2018 sent oil prices higher. While rallying on Thursday and Friday, both benchmark crude oil contracts ended the week lower. Indeed, crude oil prices have extended the rally for three consecutive months, amidst hopes of extension of the deal and geopolitical tensions in the Middle East.

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Weekly Fundamentals – Saudi Seeks to Bring Inventory Down to "Normal" Level Via Output Cut. US Shale The Swing Factor

OPEC Sought to Maintain Output Cut for Full 2018. Russia Requested to Review in June

Posted December 1st, 2017 by zeldamccurdy622 and filed in General News

Crude oil prices jumped as there are signs that OPEC/ non-OPEC would extend the output cut deal to the end of 2018. The front-month WTI crude oil added +0.17% while the Brent contract rose +0.73% for the day. The price gains were not strong as the final deal would be reviewed in June as a compromise to Russia’s request. Therefore, any output cut after expiration of the existing deal in March 2018 is not guaranteed.

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OPEC Sought to Maintain Output Cut for Full 2018. Russia Requested to Review in June

Crude Oil Retreated as Traders Awaited OPEC/ non-OPEC Announcement

Posted November 30th, 2017 by JoseNorthey and filed in General News

Oil trading was volatile as the 2-day OPEC/non-OPEC meeting began. While the rally over the past few weeks was hinged on hopes of an extension of the output cut deal, nothing has guaranteed. In particular, the attitude from Russia has been ambiguous. While the country has indicated the intention to maintain oil price stability, it has also noted that it might raise supply in the coming year (depending on OPEC’s future action).

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Crude Oil Retreated as Traders Awaited OPEC/ non-OPEC Announcement

Risk Appetite Stimulated by Powell’s Deregulation Comments, Senate Committee’s Approval of Tax Plan

Posted November 29th, 2017 by joyvanover and filed in General News

Market sentiment was buoyed by a number of events including comments from the incoming Fed Chair Jerome Powell, approval of the Republican tax bill the Senate Budget Committee and the progress of the Brexit talks with the UK and the EU close to conclude the amount of the divorce bill. Wall Street soared to fresh record highs with the DJIA and S&P 500 indices +1.09% and +0.98% respectively.

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Risk Appetite Stimulated by Powell’s Deregulation Comments, Senate Committee’s Approval of Tax Plan

OPEC/Non-OPEC Meeting, Senate’s Tax Vote in Focus

Posted November 27th, 2017 by LaurieOliva and filed in General News

The euro takes a break in Asia Monday after rallying to a 2-month high against the US dollar last Friday. The strength was driven by strong German sentiment and signs of breaking the political deadlock. The greenback is also moving sideways as the market awaits Senator’s vote on the tax reform plan. In the commodity sector crude oil prices steadies after jumping to a fresh 2-year high last Friday, on speculations that OPEC/non-OPEC would affirm extension of the output cut plan at the November 30 meeting. Despite recovery from the low made on October 31, the WTI-Brent spread has stayed at the widest level in more than 2 months.

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OPEC/Non-OPEC Meeting, Senate’s Tax Vote in Focus

Pipeline Disruption Sent WTI Crude Oil to Two-Year High

Posted November 24th, 2017 by MakaylaHuckstep and filed in General News

WTI crude oil prices climbed higher as trading resumed after holiday, catching up the oil rally amidst output disruptions along the major oil pipeline from Canada to the US. The front-month contract has risen to a fresh two-year high of 58.58 earlier in the day before pullback. While the US market was closed, major currencies strengthened against the greenback.

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Pipeline Disruption Sent WTI Crude Oil to Two-Year High

Crude Oil Prices Jumped, Helped by USD Weakness and Inventory Draw

Posted November 23rd, 2017 by MattieJasso7 and filed in General News

US dollar extended another leg lower ahead of holiday, on the heels of the November FOMC minutes. The market focused on the discussions of potential persistence of weak inflation and dumped the greenback, sending it -1.09% lower against Japanese yen and -0.91% against Swiss franc. The DXY index slipped -0.78% for the day. Treasuries gained ground, with yields lower. 2-year yields dropped -5 points to 1.73% whilst 10-year yields were down -4 points to 2.32%.

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Crude Oil Prices Jumped, Helped by USD Weakness and Inventory Draw

Commodities Strengthened as Sentiment Buoyed by New Highs in Wall Street

Posted November 22nd, 2017 by DarioHayworth6 and filed in General News

Wall Street rallied to new record high ahead of the Thanksgiving holiday, driven by teach and healthcare shares. European shares also climbed higher as confidence over economic outlook overshadowed Germany’s political drama. US Treasuries were mixed ahead of the FOMC minutes for the November meeting. The yield curve flattened further to the level not seen in a decade with a +2 point rise in 2 years’ yields and 10 years’ yields.

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Commodities Strengthened as Sentiment Buoyed by New Highs in Wall Street

Greenback’s Strength Weighed on Commodities

Posted November 21st, 2017 by carlarawlings and filed in General News

Commodities fell across the board, as the rise in greenback weighed on USD-denominated assets. In the oil markets, traders continued to take profit from the recent rally, unloading their long positions from the current elevated levels. The front-month WTI and Brent crude oil contracts fell -0.81% and -0.8% respectively. Precious metals also softened, as the market has for now shrugged off the re-emerging political uncertainty in Germany.

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Greenback’s Strength Weighed on Commodities