1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

The US blue chips are still tracking the oil benchmarks

Discussion in 'Current Market Sentiments' started by fx-recommends, Jan 21, 2016.

  1. fx-recommends

    fx-recommends Content Contributor

    Aug 6, 2008
    Likes Received:
    Following the oil prices again, The US major stocks indexes could rebound by the end of yesterday session but they could not close in the green territory, while Brent could return for trading near $28.20 per barrels, after holding barely above $27.

    SP-MAR16 has formed a dark hammer candle yesterday, before extending its rebound during today Asian session to be near 1870 containing all of yesterday massive falling to 1804.25.

    USDJPY has reflected this improvement of the risk appetite by bouncing up from 115.96 for trading currently near 117.30 containing most of yesterday losses.

    While the cable could have finally yesterday a green daily candle to be trading near 1.4175 supported by the bullish release of Dec UK labor report.

    The report has shown that UK ILO unemployment rate which counts the number of unemployed workers divided by the total civilian labor force has retreated to 5.1% in the 3 months to November, while the market was waiting for 5.2% as the same as the 3 months to October with falling of the jobless claimant change which counts the number of people claiming unemployment related benefits every month by 4.3k, while the consensus was increasing by 2.5k, after falling in November by 2.2k.

    Have a good day

    Walid Salah El din
    Senior Market Analyst
    Skype : chief.economist.walid

    Tel: UK. +44 1138590277
    Mob: EGY. +20 1224659143

    To open your account at Trade-24 - Click here

Share This Page