Search LOGIN

Oil rips to 13-month high




•    US oil price smashes through $60 on Middle East tensions, Texas deep freeze
•    Japan’s Nikkei strikes 30,000 for first time in 30 years
•    Global stocks (MSCI World index) hit new record, gain for an 11th day straight 
•    British pound continues rally, GBP/USD > 1.39
•    Bitcoin recoups most of Valentines Day drop
•    Yen weakens for 4th session, USD/JPY > 105 even as Japan GDP beats expectations
•    Gold price slipped
•    UK PM Boris Johnson rules out vaccine passports for pubs
•    Vivendi stock pops 22% on plan to list Universal Music Group
•    DAY AHEAD: RBA minutes, Germany ZEW, Wall Street reopens


"With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu


*Daily closing price
↗ EUR/USD    1.2141        (+0.09%)
↗ GBP/USD    1.3905        (+0.26%)
↗ USD/JPY    105.33        (+0.25%)
↗ S&P 500    3934.83    CLOSED
↗ Hang Seng    30,173.57    CLOSED
↘ Gold        1817.89    (-0.18%)
↗ Oil (Brent)    63.27        (+0.25%)
↗ Bitcoin    48,656        (+0.14%)


The price of oil was front and centre again on Monday. US crude futures jumped amid a massive blizzard in Texas that was exacerbated by power failures, leaving many without electricity and shutting down oil refineries. WTI crude oil rose to a 13-month high over $60 per barrel. Brent, the global benchmark crude contract was already higher after the Saudi-led coalition in Yemen said it had intercepted a drone fired by Houthi rebels, stoking geopolitical tensions in the oil-producing region.  

Global equity markets hit a record high on Monday in an impressive 11th straight day of gains fuelled by growing earnings expectations following the pandemic – notably in the US and in Emerging Markets. Japan’ Nikkei hit the 30,000 milestone for the first time in three decades, helped by better-than-expected Japanese GDP data for the fourth quarter and a weaker yen.

In forex markets, the dollar edged lower with naturally lower than average volumes given President’s Day holiday. The Aussie dollar remains a top gainer ahead of RBA meeting minutes early Tuesday. While at the same time the British pound remains a 2021 favourite, holding the line above $1.39. Gold prices edged lower despite the weakness in the US dollar as investors shunned haven trades.


*Times in GMT
00:30 – Australia RBA Meeting Minutes 
10:00 – Eurozone Gross Domestic Product s.a. (QoQ) (Q4) Prel [-0.7 % Exp vs. -0.7 % Prev]
10:00 – Germany ZEW Survey – Economic Sentiment (Feb) [59.5 Exp vs. 61.8 Prev]


The best way to keep track of your accounts. Get notifications
and access your dashboard any time!

Open a live or demo account, make secure deposits or get latest
market updates for free!