Collinson FX Market Commentary - May 15 - Oil surges after Price Fix

by Collinson FX on 16 May 2017

Starling National Championships - Final Day - Wakatere Boating Club. April 18, 2017 Richard Gladwell www.photosport.co.nz

Collinson FX Market Commentary - May 15 - Oil surges after Price Fix

Oil surged back towards $50/barrel, after Russia and Saudi Arabia struck a deal on limiting supply, looking to push the price up to a higher trading band.

US equity markets jumped and the Dollar slipped lower. The NAHB House Market Index managed to book gains, although this was tempered, by a slippage in the Empire State manufacturing survey.

The EUR climbed to 1.0970, while the GBP gave up further ground, slipping to 1.2890. The cyber attack, 'WannaCry', caused international disruption and may be a harbinger of things to come!?

Chinese Retail Sales were strong, while Industrial Production drifted lower, allowing commodity demand to rally. The AUD broke back above 0.7400, in to some clear air, while the NZD held above click here and here Or for the latest update click here

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