Forex Daily News

15th February 2019

Wall Street ends the week on a strong note, DJIA posts 8th straight weekly gains

Trade optimism helps Wall Street close the week on a positive note.
Financials and energy lead the rally on Friday.

Major equity indexes in the U.S. started the day in the positive territory and extended their gains on renewed optimism surrounding the U.S.-China trade conflict. Reflecting the strong appetite for risk, the CBOE Volatility Index, Wall Street's fear gauge, dropped more than…


US Dollar Index Technical Analysis: DXY loses steam and closes below 97.00 figure

DXY daily chart

The US Dollar Index (DXY) is trading in a bull trend above its main simple moving averages (SMAs). 

DXY 4-hour chart

DXY is trading above its main SMAs suggesting bullish momentum in the medium-term. 

DXY 30-minute chart

DXY is trading below its main SMAs suggesting a bearish bias in the short-term.
Bears will be trying to break below 96.70 to reach 96.40 to…


Saudi discipline and demand stability a catalyst for crude outperformance – TDS

"The OPEC+ cartel's promised production cuts helped WTI and Brent crudes surge as much as 30 percent above their late-December lows," note TD Securities analysts.

Key quotes

"But the upward momentum has been on the wane, as the robust demand growth expectations are being questioned, while lingering concerns that OPEC and Russia, motivated by the loss of market share, may be working…