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WTI gains traction above $49.00, Baker Hughes eyed

After testing highs near $49.80, prices for the barrel of West Texas Intermediate have now returned to the $49.35/30 band.WTI up on OPEC rumours, oil rig count on sightPrices for the WTI regained buying interest following rising hopes of an extension of the OPEC/non-OPEC output cut deal beyond June.Saudi Oil Minister said earlier on Friday that it...

16:46 28 April /2017 Forex

Russian OilMin Novak: Will define position on extension of oil output cut by May 24 - Reuters Eren Sengezer

Russia's energy minister Novak crossed the wires, via Reuters, stating that they would define their position on the extension of oil output cut by May 24.

16:46 28 April /2017 Forex

AUD/USD drifts back closer to yesterday’s 3-1/2 month lows Haresh Menghani

The AUD/USD pair failed to build on early recovery move and has now slipped into negative territory for the fourth consecutive session.Spot ran through fresh offers during early NA session and moved back within striking distance of 3-1/2 month lows touched in the previous session. The pair latest leg of downslide could be attributed to a fresh wa...

16:46 28 April /2017 Forex

GBP/USD retraces back towards 1.29 post-US data Eren Sengezer

After rising to a fresh seven-month high at 1.2955, the GBP/USD pair went into a consolidation phase and stayed in a narrow range until the release of the US data. Despite the mixed data, the greenback gained momentum against its competitors and pushed the GBP/USD back towards the 1.29 handle. As of writing, the pair was t...

16:23 28 April /2017 Forex

Canada: The Industrial Product Price Index (IPPI) rose 0.8% in March

The Industrial Product Price Index rose 0.8% in March, mainly due to higher prices for motorized and recreational vehicles and primary non-ferrous metal products, said Statistics Canada on Thursday. The Raw Materials Price Index decreased 1.6%, primarily due to lower prices for crude energy products.

16:00 28 April /2017 Forex

EUR/USD retreats from high after US GDP report

The EUR/USD pair once again failed to break through the 1.0950 important hurdle and has now retreated back to 1.0910 region post US GDP report.Spot ran through some fresh offers despite of a yet another disappointment from the US macro that showed economy recorded a tepid growth of 0.7% (annualized rate) during the first quarter of 2017. The grow...

16:00 28 April /2017 Forex

Canada: GDP was unchanged in February following three months of growth

Gross domestic product was unchanged in February following three months of growth said Statistics Canada on Thursday.

15:46 28 April /2017 Forex

USD/JPY climbs to 111.70 post-US GDP, session tops

USD/JPY has now accelerated the daily upside, printing fresh daily highs in the 111.70 area following US data releases.USD/JPY moves higher on US yieldsSpot gathered extra pace after yields in the US money markets jumped to session highs following today’s data releases in the US calendar, where advanced GDP figures showed the ec...

15:46 28 April /2017 Forex

GBP/USD bullish above 1.2609 medium term – Commerzbank Pablo Piovano

Axel Rudolph, Senior Technical Analyst at Commerzbank, noted Cable’s outlook remains bullish while above 1.2609 in the medium term.Key QuotesSterling remains short term bid while trading above Friday’s low at 1.2760. We will remain medium term bullish while the currency pair stays above the 200 day ma at 1.2609. We allow for fur...

15:46 28 April /2017 Forex

USD/JPY still eyes 112.20 – UOB Pablo Piovano

USD/JPY could reach the 112.20 area in the next weeks, suggested FX Strategists at UOB Group.Key QuotesUSD traded sideways as expected albeit at a much narrower range than anticipated. The consolidation appears incomplete and we continue to expect range trading for now, likely between 111.00 and 111.70”.“The short-term consolida...

15:46 28 April /2017 Forex

USD/CAD trims some of its gains, but holds closer to multi-month tops post macro data Haresh Menghani

The USD/CAD pair trimmed some of its early gains closer to multi-month tops, albeit has managed to hold in positive territory following macroeconomic releases. Currently trading around 1.3640 region, the pair had a muted reaction to US data showing that the economy registered a growth of 0.7% annualized growth during the first quarter of 2017. Th...

15:46 28 April /2017 Forex

US: Real GDP increased at an annual rate of 0.7% in the first quarter of 2017 Eren Sengezer

Real gross domestic product (GDP) increased at an annual rate of 0.7 percent in the first quarter of 2017, according to the "advance" estimate released by the U.S. Bureau of Economic Analysis. In the fourth quarter of 2016, real GDP increased 2.1 percent.Key quotes (via U.S. Bureau of Economic Analysis):

15:46 28 April /2017 Forex

US: Q1 earnings - GM and Phillips beat expectations Eren Sengezer

According to the latest Q1 earning reports from the United States, via LiveSquawk:

15:23 28 April /2017 Forex

US: Q1 GDP, consumer sentiment, Chicago PMI and employment cost index data due - Nomura Sandeep Kanihama

The research team at Nomura suggests that the release of Q1 GDP, consumer sentiment, Chicago PMI and employment cost index data in the upcoming US session will keep investors engaged today.Key QuotesQ1 GDP, first estimate: With spending data pointing to decelerating economic growth, we expect the BEA to report that Q1 GDP growth slowed to 0.2% q-o-q saar (Consens...

15:23 28 April /2017 Forex

Trump: There is a chance that we could end up having a major, major conflict with North Korea - Reuters Eren Sengezer

In an exclusive interview with Reuters on Thursday, U.S. President Donald Trump said that there was a chance that the U.S. could end up having a major conflict with North Korea.Key quotes (via Reuters):

15:23 28 April /2017 Forex

EUR/USD off highs, near 1.0930 ahead of US GDP Pablo Piovano

The buying interest around the single currency remains well and sound at the end of the week, with EUR/USD now deflating from tops near 1.0950 ahead of the opening bell in the NA session.EUR/USD looks to US docketSpot gained around a cent since daily lows in the mid-1.0800s to the vicinity of 1.0950 backed by a renewed and strong...

15:23 28 April /2017 Forex

NZD/USD reverses tepid recovery gains, US GDP awaited Haresh Menghani

Having posted a session high near 0.6890 region, the NZD/USD pair ran through some fresh offers and drifted into negative territory for the fifth consecutive session.The pair extended its bearish slide through the course of current trading week and is now headed back to nearly 10-month lows touched in the previous session, despite of the prevalen...

15:00 28 April /2017 Forex

GBP/USD still looks overbought – UOB Pablo Piovano

According to FX Strategists at UOB Group, Cable’s outlook remains in the overbought territory.Key Quotes“We have held the same bullish view that GBP is “overbought but has room for extension to 1.2950” since last Wednesday”.“The target appears to be within reach and while upward momentum is not as strong as preferred; a break abo...

15:00 28 April /2017 Forex

EUR/USD poised to extend the consolidation – Danske Bank Pablo Piovano

Chief Analyst at Danske Bank Arne Rasmussen noted the pair keeps pointing to a 1.06/1.10 range in the near term.Key Quotes“Despite a minor hawkish twist in the introductory statement following the ECB meeting yesterday, EUR/USD settled more or less unchanged after a brief period of volatile price actions where the cross initially moved up one step up (on 'downside risks diminishin...

15:00 28 April /2017 Forex

US: Q1 GDP and PCE core inflation data awaited – Danske Bank

Analysts at Danske Bank suggests that today brings US GDP figures for Q1 in addition to the PCE core inflation figures for Q1 in US which are going to be the most important economic releases for the day.Key Quotes“The Fed Atlanta GDP nowcast shows growth in Q1 of 0.5% q/q AR, soft data indicates growth in the region of 1.5-2.0%. We expect to land somewhere in between and forecast ...

14:46 28 April /2017 Forex