Crude Oil Prices Dive, Pulling Equities Lower

Feb. 08, 2016 9:57 AM ET
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Gold & Precious Metals, Currencies

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Orbex – Serving Traders Responsibly


Established in 2011, Orbex was founded with a mission to serve its traders responsibly. And with that in mind, Orbex works diligently to provide its traders with access to the world’s largest and most liquid financial markets. The company offers multiple trading assets, including forex, indices, commodities, metals and stock CFDs, as well as highly competitive trading conditions and access to tier-1 bank liquidity. With a diligent customer support team to answer your every query, and a focus on research, analysis and enhanced security of client funds, Orbex upholds a reputation of seasoned expertise within the industry.


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A market leader in innovation and customer service, Orbex offers its traders highly competitive trading conditions, with fast execution of under 0.03 seconds per order, spreads starting from 0.0 pips, free VPS and leverage up to 1:500.

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Traders can also benefit from daily trading signals and technical analysis reports via Trading Central, as well as the broker’s award-winning research team via the Orbex blog and social media channels. Investors of all trading styles are welcome, including scalpers, hedgers and fans of automated trading who can also select from a wide range of Expert Advisors, or create their own thanks to Orbex’s platform supporting fast EA development. With over 20 native support languages to assist you, an automated chat bot system to streamline response times, a robust FAQ center and a highly trained team of support specialists available 24/5, no matter your trading query, Orbex sets an industry example for stellar customer service and support. Click here to get in touch with Orbex.


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Not only is Orbex a trusted and award-winning broker, but it is also fully licensed by the Mauritius Financial Services Commission (FSC). Adhering to the strictest international regulations, Orbex has worked hard to consolidate its reputation as a trusted broker in the industry. This means offering their traders a secure trading experience, which includes but is not limited to, clients' funds segregation and the strict protection of data and personal information. When you combine this with the company's philosophy that encourages informed and responsible trading , and its status as an established source of valuable information, Orbex really stands out as the shining example of what it means to be a reliable broker.


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Learn more about Orbex at https://www.orbex.com/en/


Today's Economic events

  • Japan current account 1.64Tn. vs. 1.59Tn
  • Japan Bank ending y/y 2.30% vs. 2.20% previously
  • Japan average cash earnings y/y 0.10% vs. 0.70%
  • Australia ANZ job advertisements m/m 1.0% vs. -0.10% previously
  • Japan economy watchers sentiment 46.6 vs. 48.5
  • Eurozone Sentix investor confidence 6.0 vs. 7.2

Coming up

  • US Labor market conditions index

Following Friday's jobs report, the markets remained undecided with the US equities falling to rally despite the US Dollar managing to recover from the last week's strong sell-off. The Asian markets opened today with the Nikkei225 closing with 1.10% gains while the Shanghai composite closed with -0.61% losses.

Over the weekend, data released from China showed the Forex reserves falling to $3.2 trillion, a decline of nearly $100 billion in January ever since Chinese authorities started to defend the Yuan more vigorously. Earlier today, economic data from Japan was in the headlines with the average cash earnings, rising a meager 0.10% on a year over year basis, less than the 0.70% expected increase. With the earnings failing to rise, it is expected that inflation is likely to remain flat while questioning if the intended sales tax hike which was already postponed will ever see the light. The Yen initially dipped against the Greenback, with USDJPY touching intraday highs to 117.48 but by European trading session, the Yen rallied sharply sending USDJPY to lows of 116.12Yen.

The commodity risk currencies were also under pressure with $AUDUSD following through from Friday's declines. The Aussie is down -0.22% for the day, trading at 0.7055 at the time of writing. The NZDUSD is down -049% for the day, trading at $0.659

In Europe, lack of any economic news saw the markets trading based on the global theme. The US Dollar managed to gain ground against the Euro and the British Pound. EURUSD continued its retreat, with the Euro testing 1.108 intraday lows, following the declines from Friday. EURUSD is currently down -0.69% for the day. The GBPUSD also fell sharply, losing -0.97% for the day, trading at 1.436 at the time of writing.

European equity markets also fell as the Yen rallied. The German DAX 30 is down by -3.07% while the London FTSE100 lost -2.24% at the time of writing.

The NY trading session is looking to a weak open with the US equity futures already pointing to a very weak start. The Dow Jones Industrials is down by -1.43% while the S&P500 is down -1.48% ahead of the trading session. Economic data from the US is quiet with no major releases expected today.

On the commodity front, Gold prices continued to push higher as prices touched $1180, marking a strong rally. Gold is currently up 0.54% for the day. WTI Crude Oil prices are down -3.90% for the day, trading at $29.80 a barrel.

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