OctaFX | OctaFX Forex Broker
Open trading account

Signs of stabilization in oil markets? – Westpac

In the view of the analysts at Westpac, both crude benchmarks seem to have stabilized following the recent rout triggered by the China coronavirus outbreak.

Key Quotes:

“After 5 sessions of steep declines that saw a 12% drop in WTI and 10% drop in Brent, we saw some signs of stabilization in both markers as traders weighed up the extent to which the coronavirus would hit demand.

Saudi Arabia suggested that it saw “very limited impact on demand” and newswires noted that Libyan output “may almost fully halt within days”. WTI is up 43c at $53.57 and Brent up 33c at $59.65.”

USD/JPY fills Monday's negative gap

USD/JPY jumped above 109.17 in the overnight trade, filling the gap created by Monday's weak open at 108.89. The pair had gapped lower on Monday as th
Read more Previous

AUD/USD Price Analysis: Rises above 50-HMA, bull reversal in the making?

AUD/USD has moved above the 50-hour moving average (HMA) in Asia, but the bulls are not out of the woods yet. A daily close above 0.6765 is needed to
Read more Next
Start livechat