China’s economy had good start to 2016: Premier Li

US30 falls, AUS200 continues sell off China’s economy had good start to 2016: Premier Li. Oil glut continues to increase. Dollar rally batter’s commodities as Fed talks of tightening. Oil falls as inventories jump. Opening strength on the GER30 and UK100 last session surprised me. While sellers took control into the session. Tonight mixed signs, AUS200 seeing buying and JPN225 off lows.

An oil glut could reverse the market's two-month rally

​​Oil prices fell by around 3% on Wednesday after U.S crude stockpiles soared to record highs for a sixth straight week, triple analysts’ expectations and re-awakening the concerns that an oil glut could reverse the market’s two-month rally. The Energy Information Administration (EIA) said crude stockpiles rose 9.4 million barrels last week, a long way off the 3.1 million expectations.

Silver would then see a run towards 15.00

​​Silver followed the lead of Gold in Asia yesterday and fell to 15.65, since when the move to the downside has continued with a sharp decline towards 15.20, where Silver is ending the US session pretty much on the lows. Support is seen here, at 15.15/20, below which would then see a run towards 15.00. Back below 15.00 (200 DMA: 14.90

US$ sold heavily following Fed meeting. WTI above $40pb

The US$ has been heavily sold across the board following on from the Fed Interest Rate Decision yesterday, when Janet Yellen alluded to the prospect of only 2 hikes this year rather than the 4 that had previously been hinted at. All the majors have made good gains against the dollar, as have commodities, with WTI regaining $40pb for the first time since early December. Stocks have also made good gains and it looks as though the risk-on rally

Economic Indicator News »

Gfk Consumer Confidence came in at 9.4

​The german Gfk Consumer Confidence came in below forecasts at 9.4 compared to...

Actual

9.4

Forecast

9.5

Previous

9.5

Economic Indicator News »

Jobless Claims better than expected

​Initial jobless claims report came in better than expected at 265 K below...

Actual

265 K

Forecast

268 K

Previous

265 K

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