Venezuela proposes new OPEC deal

Investing.com - President Nicolas Maduro said yesterday that recession-ravaged Venezuela is sending a proposal to the Organization of Petroleum Exporting Countries (OPEC) and non-OPEC producers to stabilize crude oil prices. “Venezuela, as of next week, will circulate a letter with a new proposal, ...

IMF boosts U.S. growth forecast for 2017

Investing.com - The International Monetary Fund (IMF) today raised its economic growth forecast for the American economy over the next two years, predicting that President-elect Donald Trump's aggressive policies likely will boost economic growth, particularly next year. The IMF increased 201 ...

USD/SGD MACD opens the gates for further depreciation

A bearish MACD line cross below its median on a daily chart suggests that momentum is to the downside at the moment.Traders following this technical signal will now more confident that serious inroads to the USD/SGD downside can be achieved. Potential and long-term sellers should find comfort i ...

AUD/USD: looking to break 0.75 as a key resistance

Currently, AUD/USD is trading at 0.7470, down -0.06% on the day, having posted a daily high at 0.7481 and low at 0.7468. Market wrap: risk aversion increasing, watching sterling - Westpac AUD/USD was up to meet the 200 dma at the 0.75 handle, but has been unable to breach the psychological leve ...

Mexico stocks lower at close of trade; IPC down 0.96%

Investing.com – Mexico stocks were lower after the close on Monday, as losses in the Financial Services, Telecoms Services and Materials sectors led shares lower. At the close in Mexico, the IPC fell 0.96%. The best performers of the session on the IPC were Bolsa Mexicana De Valores SAB De CV ...

Market re-cap: U.S. was closed, focus on Europe and ECB – ANZ

Analysts at ANZ explained that US markets were closed for Martin Luther King Day, leaving activity naturally subdued. Key Quotes: "Elsewhere, European bourses were offered as there are some expectations that Thursday’s central bank meeting may be a bit more balanced with some looking fo ...

USD/CAD creeping higher with eyes for 1.32 handle

Currently, USD/CAD is trading at 1.3180, down -0.05% on the day, having posted a daily high at 1.3189 and low at 1.3172. We had a US holiday today and much of the tone was risk -off, favouring the greenback to some degree after yesterdays crash in the pound again on the open of early Asia in thi ...

NZD/USD retakes 0.7100 amid US dollar strength, GDT next

Currently, NZDUSD is trading at 0.7105, down -0.36% on the day, having posted a daily high at 0.7148 and low at 0.7076. The New Zealand dollar started a new year with a decent recovery all the way from 0.6883 (Jan. low) amid neutral to bearish expectations from different analysts and technica ...

Market wrap: risk aversion increasing, watching sterling – Westpac

Analysts at Westpac offered a market wrap. Key Quotes: "Global market sentiment: A degree of risk aversion increased in relatively light European trading (given the US Martin Luther King holiday) saw stocks either side of 1% lower in further reactions to weekend comments from Trump an ...

New Zealand NZIER Business Confidence (QoQ) increased to 28% in 4Q from previous 26%

Brazil stocks higher at close of trade; Bovespa up 0.28%

Two Black Swans and uncertainty remains – ANZ

Analysts at ANZ explained that markets affected by the twin political black swans of 2016 – the Brexit vote and Trump win – remain volatile and uncertain. Key Quotes: "Having briefly dipped sub-1.20 on expectations that PM May will outline a “hard Brexit” in her speec ...

GBP/USD: stable on 1.20 post Carney, but fragile ahead of PM May

Currently, GBP/USD is trading at 1.2055, down -1.08% on the day, having posted a daily high at 1.2087 and low at 1.1987. GBP/USD is muted after Carney's speech that was overall pretty bearish on the UK economy and outlook for sterling, but the main event will come tomorrow when PM May offer ...

US dollar ends higher, consolidating around 101.50

The US dollar and the Japanese yen were among the to performers in the currency market on Monday boosted by risk aversion. Uncertainty regarding Trump’s policies and fears of a hard Brexit weighted on equities in Europe. The pound tumbled across the board.  Brexit: what we do and what w ...