Entries Categorized as 'Oil'

Dollar Unfazed By Mixed Economic Data

Date December 23, 2008

The US dollar appears to be unfazed by this morning’s mixed economic data. An improvement in consumer confidence has failed to help the dollar while the weaker news has pretty much been baked into the markets.
Christmas and New Years week is a time when traders are more focused on seeing family than making [...]

Gas Prices Continue to Fall

Date November 17, 2008

I was in New Jersey this weekend and was amazed to see gas prices at $1.89 a gallon! Sometimes reality doesn’t set in until you venture outside of the Big Apple because at the Mobile Station on the corner of the West Side Highway and Canal Street in NY, a gallon is still selling [...]

Dollar Closing In on 5% Targets, Where are the Value Points?

Date October 24, 2008

The type of moves that we have seen in the currency market during the Asian and European trading sessions are typically what we see in a quarter or a half year. USD/JPY has fallen 5 percent, AUD/USD is down more than 8.5 percent while the NZD/USD is down 7 percent. The sell-off in [...]

Will an OPEC Production Cut Carve a Bottom in Oil?

Date October 21, 2008

Since July, oil prices haven fallen approximately 50 percent. For many people, the drop in oil is a welcome relief but for oil producers, the price of crude has reached levels that could turn budget surpluses into deficits.
According to a report released by the IMF yesterday on the Economic Outlook for the Middle [...]

Euro Hits 1 Yr Low on Trichet’s Comments: Is He Open to Coordinated Easing?

Date October 2, 2008

The European Central Bank President has finally buckled under the weight of bank failures, recessions and slower global growth. Although the ECB left interest rates unchanged at 4.25 percent this morning, Trichet has paved the way for an interest rate cut before the end of the year. This has driven the Euro to [...]