img CDN
img AUS
img NZ
img US
Call us now: 1.844.363.7297
imgOnline Dealing Login

Market Update

EncoreFX’s daily market updates are written by our experienced and professional dealing team.

Global Stocks Start Week Strong; Oil Prices Begin to Rebound

Published February 12, 2018
  • USD/CAD remains steady this morning as global markets are poised to make a slight recovery from the volatility of the last two weeks; improving oil prices and stronger equity markets are supporting the Canadian dollar as the markets moves away from a risk-off sentiment.
  • Oil prices are up this morning after suffering their worst weekly losses in two years; prices for Brent crude and WTI are rebounding after shaving off nearly 10% of their value last week, a move largely brought on by increasing US oil production.
  • Global equities started the week on a stronger footing, showing a modest recovery after a turbulent week that wiped off nearly $1 trillion in market capitalization value; Asian markets closed 1% higher while European indices moved off from 6-month lows.
  • US stock futures point to a higher open this morning, suggesting that New York exchanges could extend the rebound seen at the end of last week. US 10-year treasury yields ascended to 2.902% (a level not seen since January 2014), worrying analysts that bonds may still yet pull investors away from equities.
  • There is little data of note for today. Global markets will look for direction from improving stock markets as well as consumer inflation numbers out of the US on Wednesday.