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Crude Oil Overview: OPEC+ Agrees on Output Increase, Oil’s Sharp sell-off Analyzed

BRENT CRUDE OIL AFTER OPEC+ MEETING: Brent crude oil’s sharp sell-off and recovery after OPEC+ stick with January plan but reserve the right to alter the decision. Oil recovers from sharp sell-off as key long-term trendline remains intact. IG Client Sentiment ‘mixed’ once more despite even larger net long positioning than previously. OPEC+ LEAVES JANUARY OUTPUT PLANS UNCHANGED BUT REMAINS FLEXIBLE TO OMICRON-RELATED SHOCKS Yesterday the Organization of
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Market News

European stocks climb, looking for a positive end to a tumultuous week

LONDON — European markets moved higher on Friday, looking for a positive end to a tumultuous week following the discovery of the new omicron Covid-19 variant. The pan-European Stoxx 600 added 0.5% in early trade, with travel and leisure stocks bouncing 2% on easing omicron fears as almost all sectors and major bourses entered positive territory. European stocks are looking to rebound from Thursday’s pullback, which saw the Stoxx 600 fall 1.1% and tech sector on the continent drop
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Dow Attempts Recovery, Nasdaq 100 Still in Reversal Pattern with NFPs and Seasonality at Play

DOW, NASDAQ 100, S&P 500, DOLLAR AND NFPS TALKING POINTS: Following Wednesday’s broad risk tumble, the Dow, S&P 500 and Nasdaq put in for a stiff bounce this past session. Volatility is the dangerous undercurrent that persists, so a steady course through the final day of trade this week could go far towards restoring ‘seasonal’ norms. Top event risk from a headlines perspective Friday is the November NFPs, but I place greater weight on the ISM services update as the y
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EUR/USD Contained Ahead of NFP but Remains Sensitive to ‘Hawkish/Dovish’ Narrative Swings

EUR/USD TALKING POINTS: EUR/USD calmer ahead of US NFP data and Euro sentiment data next week. The currency pair looks to test key resistance (prior support). IG Client Sentiment ‘mixed’ despite significant net long positioning. EUR/USD AHEAD OF NON-FARM PAYROLLS AND EURO SENTIMENT SURVEY DATA The Euro received a much needed bounce last Friday as global financial markets wrestled with news of a new coronavirus variant which we have now come to know as
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Market News

Turkish Lira (TRY) Exposed Stocks to Watch as Volatility Reaches Crisis Highs

Turkish Lira Analysis and News: Unorthodox Monetary Policy View to See TRY Remain in a Downward Spiral. Turkish Lira Implied Volatility Highest Since 2018 Currency Crisis. Spain Most Exposed to Turkish Lira Weakness. The Turkish Lira continues to garner interest with the currency’s downward spiral showing very little signs of slowing. This is despite attempts by the Turkish Central Bank to contain weakness via interventions as seen during yesterday's session. Howeve
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Market News

British Pound (GBP) Price Outlook: GBP/USD Challenging Support

GBP/USD price, news and analysis: GBP/USD weakness looks set to continue as the financial markets remain jittery after news that the first case of the Omicron variant of Covid-19 in the US has been found, suggesting it is still spreading. A hawkish Federal Reserve chair, who has reiterated that a faster taper of US stimulus than previously expected is now on the cards, is not helping either. GBP/USD weakness may persist GBP/USD is continuing to slip back within a d
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Market News

Dow Jones to Test 200-day Moving Average: US Indices Technical Outlook

U.S. INDICES TECHNICAL HIGHLIGHTS: S&P 500 rolling over towards old high, support. Dow Jones about to test the 200-day moving average. Dow Jones weaker, may test prior summer record high. DOW JONES TO TEST 200-DAY MOVING AVERAGE: US INDICES TECHNICAL OUTLOOK The S&P 500 is declining towards the prior record high notched in September at 4545. This will be an interesting test as there have been other times (highlighted in blue) where the market declined t
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British Pound (GBP) Outlook: GBP/USD in The Grip of Lower Highs and Lower Lows

GBP/USD PRICE, CHART, AND ANALYSIS Fed chair Jerome Powell rattled GBP/USD lower on Tuesday. A pattern of lower highs and lower lows remains in place. Keep up to date with all market-moving data releases and events by using the DailyFX Calendar Fed chair Jerome Powell’s hawkish commentary on Tuesday sent GBP/USD tumbling below 1.3200 in a matter of minutes before buyers re-entered the market and negated the selling pressure. Chair Powell said that the Fed would aba
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S&P 500 Stages Reversal, Dollar Volatility After Powell, Dow the Worrying Signal

S&P 500, NASDAQ 100, DOW, COVID AND DOLLAR TALKING POINTS: The S&P 500 has carved out an aggressive head-and-shoulders reversal pattern, but is this artificially shaped by month-end activity? Fed Chairman Powell is warning the markets that the FOMC may very well accelerate its tightening time table in two weeks. As we wade through capital flows, monetary policy speculation and growth updates; I remain concerned about the ‘signal’ from the Dow.   RISK AV
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Product Updates

MetaTrader 4 help: Charts Customization

MetaTrader 4 help: Charts Customization   Setup Appearance and properties of each chart in the terminal can be set up individually. To do so, one has to execute the "Charts – Properties..." menu command, the chart context menu command of the same name, or press F8. These actions result in appearing of the "Properties" window that can be used for setting of the color of various elements of the chart (the "Colors") tab: Background – chart background color; For
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British Pound (GBP) Price Outlook: EUR/GBP Rally May Run Out of Steam

EUR/GBP PRICE, NEWS AND ANALYSIS: EUR/GBP will likely slip back after its rally over the past few days as the Euro was boosted by concerns about the Omicron variant of Covid-19 and whether existing vaccines will be effective against it. Meanwhile, a reshuffle of the UK Labour Party’s shadow Cabinet should have little impact on GBP even though opinion polls show Labour neck-and-neck with the ruling Conservatives. EUR/GBP RALLY AT RISK AS OMICRON FEARS RECEDE The strong
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Market News

Crude Oil Prices Sink as Moderna CEO Warns on Omicron Ahead of OPEC+. Where To for WTI?

CRUDE OIL, WTI, AUD/USD, CHINA PMI, MSCI, NIKKEI 225 - TALKING POINTS: Crude oil prices tanked as risk-off sentiment resumed in Asia today. APAC equities were doing ok until a report questioned the efficacy of vaccines. OPEC+ could be a non-event on Thursday now. Will crude continue lower? WTI crude oil went toward US$ 67 a barrel in the afternoon session after the Financial Times (FT) reported the CEO of Moderna saying that vaccines are likely to struggle to protec
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Covid Worries Don’t Capsize Markets Just Yet, But Watch the Dow and US Dollar

S&P 500, NASDAQ 100, DOW, COVID AND DOLLAR TALKING POINTS The S&P 500 led ‘risk assets’ on a broad slump in sentiment this past Friday which found fundamental blame in news of the Omicron Covid variant Markets made a bid to recovery this past session, but the Dow and the DAX didn’t seem to muster the same enthusiasm as speculative favorites like the SPX and Nasdaq A full recovery in risk trends is almost assumed given seasonal conditions and post-Covid momentum, but t
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USD/ZAR Forecast: Friday’s Omicron Overshoot Sees Rand Open Higher

RAND ANALYSIS: Rand market frenzy fades as market mulls over new variant. Commodities revised lower as uncertainty emerges. Bearish harami suggests short-term USD/ZAR downside correction.   ZAR FUNDAMENTAL BACKDROP RAND IS NOW ONE OF THE WORST PERFORMING CURRENCIES AGAINST THE GREENBACK The South African rand may have been the worst affected Emerging Market (EM) currency as a result of the new COVID-19 strain known as Omicron. Inaccurate news
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Market News

South African Rand Battered as UK Restricts SA Travel Ahead of the Holiday Period

RAND (USD/ZAR) ANALYSIS: UK place SA on its red list in attempt to curb the spread of a new coronavirus variant. World Health Organization set to meet to discuss studies of the variant and assess severity. USD/ZAR perfect storm: Dollar finds safe-haven appeal, Ems on backfoot, variant detected in South Africa. NEW COVID VARIANT WITH HIGH NUMBER OF MUTATIONS HAS THE MARKET ON EDGE South African scientists announced on Thursday the detection of a new coronavirus
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European Stock Futures Sharply Lower; New Virus Strain Raises Lockdown Fears

European stock markets are expected to open sharply lower Friday on concerns a new Covid variant will prompt fresh mobility restrictions, hindering the region’s economic recovery.   At 2:05 AM ET (0705 GMT), the DAX futures contract in Germany traded 2.3% lower, CAC 40 futures in France dropped 2.6% and the FTSE 100 futures contract in the U.K. fell 2.3%. Virus cases have soared in Europe in the last month, with a number of countries introducing stricter Covid measures. But a degr
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