Dollar is under pressure, yen is trying to develop correction once again
For the whole day yesterday EUR/USD did not move anywhere. The pair was traded in a narrow range between 1.3300 and 1.3332 levels. During Asian session, euro rose sharply to 1.3357, but the pair could not go any higher. In general, there were not any changes in the overall picture. However, support in the 33rd figure continues to keep the euro from falling, which is a good factor for the bulls on it, well, drawing of a double top did not work. But, still one should not exclude falling to 1.3180-1.3160, unless, of course, the pair is not be able to overcome the 34th figure.
Kenyan Oil, Hot and Getting Hotter: Interview with Taipan’s Maxwell Birley
Kenya has become the hottest oil and gas venue in East Africa since big discoveries were made in the country’s virgin oilfields last April. All eyes are on Kenya in 2013 to see how quickly–and economically they can develop those discoveries into production.
Currency Speculators increased bets against the US Dollar. Euro at best level since July 2011
Non-commercial large futures traders, including hedge funds and large speculators, registered a US dollar short position total of $12.897 billion on January 15th after totaling a short position of $6.96 billion on January 8th, according to the CFTC COT data and calculations by Reuters which calculates the dollar positions against the euro, British pound, Japanese yen, Australian dollar, Canadian dollar and the Swiss franc.
US dollar overall short positions are now at their highest level since October 2nd 2012 when total short positions registered $16.31 billion.
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Dollar is under pressure, yen is trying to develop correction once again
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