Crude at 1-Month Low on U.S. Demand Concerns

2010-01-22 23:55 | View:

Crude oil prices fell for the second consecutive trading day of the meeting 2%, despite the increase in U.S. crude oil inventories, concerns over China's trade down to almost 76 dollars a barrel against the risk of currency and commodity demand.

Keizai
-------------------------------------------------- ------------------------------
U.S. dollar - U.S. dollar decline over the proposed banking regulations

U.S. dollar fell sharply against the yen on Thursday increased concerns of a global growth and China's sovereign debt to Greece continued unrest is likely to slow the growth of concerns about the state's economic recovery. U.S. dollars have also been hit in the United States President Barack Obama proposed banking regulations. U.S. dollar index at 78.395 from 78.369. On 2 Earlier 78.814,9 hit its highest level since.

U.S. dollar rose to its highest level since July against the euro Thursday in morning trading, but the dollar fell from a high to the current trading at the same level, Obama the Government's bank regulations announced Wednesday. The bank plans to force the regulatory agencies of commercial banks and proprietary trading to choose their own profit, while seeking to limit the size of large banks. The Dow Jones Industrial Average fell after the release of the proposed regulation, lost more than 2% of the afternoon, further sapping the market risk appetite.

In the absence of press release today from the United States, the dollar may decide from Europe, as well as movement of the stock market version.

The euro - the euro in Greece continue to focus on the financial crisis falls

The euro fell a sixth day against the dollar, hit a low of 1.4029 U.S. dollars since the lowest level in July 30 of a series of negative news, the euro, full-time at the Greek sovereign debt continue to focus on areas. Despite the rebound in the afternoon of the euro against the dollar, but fell sharply against the yen, more than 1% loss. The euro was 1.4129 U.S. dollars from 1.4 to zero the current 97 U.S. dollars late Thursday in New York. The euro is from Y128.69 Y127.27. Britain is currently pounds yesterday from 1.6195 U.S. dollars 1.6212 U.S. dollars.

Growth-sensitive currencies such as the euro under pressure today due to fears of Greece will not be able to control its budget deficit and the decline in the growth possibilities. Ongoing budget crisis, Greece seems to a common currency, the continuing negative impact.

Despite a slow news day today, is expected, new orders in industry 10:00 GMT England will likely provide some better results than expected, the euro support. UK retail sales are GMT 9:30 release fluctuations pounds should be provided.

JPY - Japanese Yen gains broadly risk-averse

The yen against the dollar rose to 9-month low, Obama as president does not encourage the proposal to limit demand for higher-yielding assets, financial institutions, the risks of trading the euro higher. Japan's currency set for the second consecutive trading against the euro, three weeks ahead of the downturn on global stock markets and dollar concerns about China's economic growth in the high weekly gain.

Advanced yen from New York yesterday from 127.37 to 126.89 euros. Yen exchange rate reached 126.56, the highest since April 28 level. Yesterday, it gained 90.43 to 89.93 U.S. dollars to 89.87, after December 18 the highest level since.

Oil - Crude oil prices fell more than 2%

March crude oil futures for delivery of crude oil ended down 76.08 U.S. dollars a New York Mercantile Exchange, oil prices Thursday 1.66 U.S. dollars, or 2.1%. At present, the oil price 75.84 U.S. dollars a barrel.

Fall in oil prices, even though at 50 million barrels of crude oil inventory report last week, fell as oil refineries to reduce imports. A small decline in oil prices not enough to push up the supply still in the United States to reduce its demand for oil refineries as a higher rate, which is showing some signs of recovery. The world's largest crude oil from the recovery in consumer demand is considered necessary, however, despite the economic data encouraged several months, the U.S. demand remains weak.

The pressure of oil to intensify a broad sell off U.S. stocks after the banking reform proposed by President Obama and the China's monetary tightening policy, worried about re-released.

Technology News
-------------------------------------------------- ------------------------------
EUR / USD
Four-hour figure shows that the two of us have failed to break 20 day MA over the last week since its Bollinger Bands average. This shows a strong downward trend is occurring. Dealers who want to trade the trend, you may find a good entry point, when prices reach the middle line, to enter the market into a short.
GBP / USD
The daily chart shows the potential for further downward movement. Yesterday, fell below the 10-day moving average close to one of the reasons that both the sale. MACD Histogram indicators showed a downward trend, indicating the future prices. Is also in the formation of a potential bearish cross, which suggested price of 0.7680 in the process of another MACD indicator line. Traders may want to continue on this short today.
USD / JPY
In addition, long-term bearish trend, which remains in full pace. The weekly chart shows already crossed the middle line of its Bollinger Bands. This shows the potential of the two men will drop to a lower Bollinger Bands restrictions. Traders may see an opportunity to level with the restraining order at 87.20 short.
USD / CHF
The daily chart shows a bearish cross of the two men formed a slow random oscillation, indicating the potential price movement decline. Chart 7-day relative strength index also showed double-top formation may occur in the oversold region. This could mean a potential decline in prices. Traders may want to wait for the middle of the tank to break, and then enter the local market to open a position.

Wild card
-------------------------------------------------- ------------------------------
Oil
Oil prices fell again and was trading around 76.10 U.S. dollars a barrel. However, the daily chart of the RSI is oversold suggesting floating in the recent downward trend is losing steam and corrections optimistic about the territory. This may be a good opportunity to enter the foreign exchange dealers at a very early stage trend.
 

Share/Bookmark

Recommended Forex Trading Platforms

A 90 day demo account helps you build up your trading confidence with ample time and capital before entering a live environment. From US$5,000 up to US$ 5,000,000 to trade in virtual money, get direct access to the world's FX markets at no risk or obligation with our powerful, user-friendly online trading platform - the MIG Trading Station.


Daily Forex Reports
  • USD/JPY 89.60 - 27/01/2010

    USD / JPY 90.54 Low 89.14 Open 89.63 Close 89.67 highest U.S. dollar / yen rose to 90.54 at the top, from where the main movement continued to decline ...

  • Forexpros.com Daily Analysis - 27/01/2010

    Fundamental analysis: U.S. durable goods orders Traders expect the core durable goods orders will be held tomorrow (January 28 published). It is used t...

  • Trends for Today by Finexo.com 27/01/2010

    The UK economy is finally out of the economic recession in the recovery of gross domestic product growth of 0.1%. Bernanke's re-election seems certain,...



2005 - 2009 Forex Market Analysis - www.whitmanpearce.com          Contact us:gracealvin@gmail.com

myspace hit counter