Forex Consulting

No holding back the equities train today

European stocks surge ahead as investors continue to pile into the equities market Here’s a rundown of European equities so far today: Despite the positive tone, UK’s FTSE index is the “laggard” on the day – as it was for 2017 as well. While most European equity indices closed the year with double digit gains,…

Forex Consulting

After the fix: Bomb cyclone edition

Let’s see what happens to flows We’re through the London fix now and the euro-sellers have held the line at the 2017 high of 1.2092. There were big bids in the euro, aussie and kiwi in the past hour leading into the London fix. The buying was relentless but if flows were the driver, then…

Forex Consulting

US DUE weekly oil inventories -7419K vs -4700K expected

Weekly petroleum inventory and production numbers – Gasoline +4813K vs -1584K exp – Distillates +8899K vs +500K exp – Oil production +0.3% w/w – Production 9.782mbpd vs 9.754mbpd prior Big draw in oil but look at that massive build in distillates and jump in gasoline. On net, that’s bearish for oil. Copyright 2015 Forexlive.com

Forex Consulting

US final Markit services PMI 53.7 vs 52.5 expected

The final US Markit PMI for December 2017 – was 52.4 – Prior was 54.5 The preliminary report disappointed at 52.4 vs 54.7 expected, so there was a bit of mean reversion here. The market ignored the original report and the US dollar isn’t getting much of a lift here. Copyright 2015 Forexlive.com