EURUSD Forecast June 15, 2017, Technical Analysis
The EURUSD pair shot like a rocket into the stratosphere after less than impressive US numbers came out during the early New York trading.
New York
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Daily Energy Report
And so the bullish trade returns. The up-down-up-down pattern that has developed over the past week continued yesterday in WTI and cast a positive light on an otherwise neutral-appearing chart. Brent appears similar, but couldn’t get much of a rally going yesterday.
Grains Commentary
The overnight markets once again give a little for everyone as decent swings were seen throughout the evening session. The beans have rallied nearly $1 since last Friday and they had the least impact from the USDA while corn has gained only 40 cents. So what should be done now?
Daily Energy Report
The oil market finally “broke out” from its week-long consolidation range yesterday, but the breakout was anything but impressive. WTI settled in the middle of the day’s trading range while Brent ended near the day’s low. While those settlements provide little in the way of positive forward guidance, other signs are more bullish. Support will be offered from the growing appearance that economic data in Asia and Europe are improving, fresh five-year highs in the S&P 500 yesterday, and weakness in the dollar
Daily Energy Report
It was deja vu all over again for the oil markets yesterday, as both WTI and Brent made small losses within inside-day trading ranges. The incremental information in yesterday’s session basically included pressure from weak oil demand and increasing worries about the upcoming German local elections, while support came from increased speculation about accommodative monetary policies in Japan and China
Grains Commentary
The overnight markets have once again given a little for everyone as the markets have traded on both sides but seem to gaining some strength through the early AM hours so far.
Daily Energy Report
WTI is showing difficulty in trading above the $94.00/bbl price level, while Brent is doing the same near $113.00/bbl. The oil markets may continue to remain range-bound in the near-term, as influencing factors are somewhat mixed. The upside will focus on improving economic data, buying by managed money accounts, and fresh refinery issues with Motiva
Grains Commentary
The markets are trying to recover from the bad hang over of the first week of 2013 as grain markets are testing areas that have not been seen since before the start of the worst drought in 100 years.