Currencies wrap: the best, the worst, the most volatile
Here we gathered the best and the worst performers of the week and the most volatile pairs .
Oil prices sink in Asia as market mulls supply outlook
On Monday, crude prices gave up early revenues in Asia after a weekend gathering that saw some pledge for the extension of a coordinated output drop by OPEC as well as non-OPEC key producers.
A joint committee of ministers from OPEC and also non-OPEC oil producers has decided to review whether a global pact to restrict supplies should be extended by six months. Crude sector experts told that the lack of an immediate extension could drag on oil prices.
US West Texas Intermediate May delivery crude futures dropped 0.19%, hitting $47.88 in New York. Besides this, in London, Brent crude May delivery futures sagged 0.04%, trading at $50.78 a barrel.
In the week ahead, market participants will eye fresh weekly information on American stockpiles of crude as well as refined products in order to assess the strength of demand in the world’s number one crude consumer.
The previous week, crude futures settled higher on Friday, though posted a weekly loss of about 2% as the market weighed ascending shale output and record-high stockpiles in America against efforts by key producers to reduce output to tame a global glut.
Similar
ECB: what’s next for the euro?
The European Central Bank will meet today to discuss the current monetary policy and the fate of the quantitative easing program
Retail data may shake the loonie
Canada will publish the headline and core retail sales on January 24 at 15:30 MT time.
Latest news
The sell-off across the markets
The week has started with a cautious note...
How are things with Facebook?
The Facebook earnings report is coming at 00:00 MT time on January 30.
Can you ride the tide with Apple?
Apple earnings report is released at 00:00 MT time on January 29.
Deposit with your local payment systems
