Market Commentary

Market Recap: 6 - 10 May

on May 13, 2019 | By Stuart McPhee | AUDUSD, USDJPY, UKOil, US30

On Tuesday last week we covered the AUDUSD which has continued to do very little trading under the current key level of 0.7050. In the last couple of weeks the AUDUSD has continued to decline further moving to a four month low under 0.70, which all started several weeks ago when it dropped very sharply to near 0.70 within 24 hours and this saw it fall below the key 0.7050 level to a six week low.

UK Oil - Settles Under Key $71 Level as Trade Fears Weigh

on May 10, 2019 | By Stuart McPhee | UKOil

In the last few weeks oil has eased lower from six months highs above $75.50 down below the current key $71 level. Prior to the fall, oil had surged higher to reach its highest level in six months as it has comfortably moved past the key level at $71 after meeting some resistance at that level. Surprisingly this level didn’t provide much support in the last few weeks as it has now been broken back through.

Market Recap: 22 - 26 April

on April 29, 2019 | By Stuart McPhee | AUDUSD, USDJPY, USDCAD, UKOil

On Tuesday last week we covered the USDCAD which for the first time in some time left the prevailing range and traded above the key 1.34 level reaching its highest level in 2019 before easing a little to finish the week. In the last few weeks the USDCAD has traded within a narrow range and consolidated under the current key level of 1.34 which was also offering resistance to the currency pair moving higher.

UK Oil - Moves to Six Month High Above $74 on Iran Waivers

on April 24, 2019 | By Stuart McPhee | UKOil

In the last couple of days oil has surged higher to reach its highest level in six months as it has comfortably moved past the key level at $71. For the last couple of weeks oil has consolidated and traded in a very narrow range right above the $71 level having moved through this level for the first time in many months.

UK Oil - Moves to Four Month High At $70 as Supply Tightens

on April 5, 2019 | By Stuart McPhee | UKOil

In the last few weeks oil has steadily inched higher and in the last couple of days has moved higher again to reach a four month high right at $70. It is steadied a little in the last couple of days and has been content to trade right underneath the $70 level. It has dropped sharply a few times in the last few weeks, however it has enjoyed a very solid start to the year rallying from 16 month lows below $50 at the end of last year, back up to the key $58 level and beyond, after its doom and gloom to close out 2018.

Market Recap: 25 - 29 March

on April 1, 2019 | By Stuart McPhee | EURUSD, USDJPY, GBPUSD, UKOil

On Tuesday last week we covered the GBPUSD which finished the week falling strongly lower to a three week low. To start out the week it was trading around the current key level of 1.32 where it spent most of the last few weeks trading around. In this same period the GBPUSD has increased in volatility but kept right around the 1.32 level, so it will be interesting to see whether it can remain within touch.

UK Oil - Near Four Month High Around $68 Despite Global Economy Concerns

on March 27, 2019 | By Stuart McPhee | UKOil

In the last few weeks oil has steadily inched higher and in the last 24 hours has moved higher again to be within reach of a four month high near $68. It has dropped sharply a few times in the last few weeks, however it has enjoyed a very solid start to the year rallying from 16 month lows below $50 at the end of last year, back up to the key $58 level and beyond, after its doom and gloom to close out 2018.

Market Recap: 11 - 15 March

on March 18, 2019 | By Stuart McPhee | AUDUSD, GBPUSD, UKOil, US30

On Tuesday last week we covered the AUDUSD which spent the remainder of the week consolidating in a narrow range right above the key level of 0.7050. Just leading up to last week the AUDUSD rallied well and moved back up that level. In the last few weeks however the AUDUSD has fallen from near 0.72 down to its lowest levels in two months at 0.70 before the recent rally. For the most part in the last two months, the AUDUSD has traded within a narrow range between 0.7050 and around 0.72.

UK Oil - Moves Towards Three Month High Near $68 on Supply Cuts

on March 14, 2019 | By Stuart McPhee | UKOil

In the last couple of weeks oil has steadily inched higher and in the last 24 hours has surged higher to be within reach of a three month high near $68. A few weeks ago oil dropped sharply after reaching a three month high just shy of $68, however it has enjoyed a very solid start to the year rallying from 16 month lows below $50 at the end of last year, back up to the key $58 level and beyond, after its doom and gloom to close out 2018.

Market Recap: 25 February - 1 March

on March 4, 2019 | By Stuart McPhee | AUDUSD, DJIA, GBPUSD, UKOil, US30

On Tuesday last week we covered the GBPUSD which continued earlier in the week to climb above the key level of 1.32 before finishing the week easing back to this level and finding support there. The last three weeks has seen a resurgent sterling as it climbed back towards that key 1.32 level, after spending the previous three weeks falling away strongly from the same key resistance level at 1.32.

Market Recap: 6 - 10 May

UK Oil - Settles Under Key $71 Level as Trade Fears Weigh

Market Recap: 22 - 26 April

UK Oil - Moves to Six Month High Above $74 on Iran Waivers

UK Oil - Moves to Four Month High At $70 as Supply Tightens

Market Recap: 25 - 29 March

UK Oil - Near Four Month High Around $68 Despite Global Economy Concerns

Market Recap: 11 - 15 March

UK Oil - Moves Towards Three Month High Near $68 on Supply Cuts

Market Recap: 25 February - 1 March

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