OPEC emergency meeting not happening so far

FXStreet (Edinburgh) - According to non-gulf OPEC delegates, ministers of the oil cartel keep regular consultations regarding the oil market, although nothing has come out yet regarding the likeliness of an emergency meeting.

At the time of writing, the barrel of West Texas Intermediate is trading in the mid-$31.00s, while the Brent crude is just above the $32.00 mark.

Jan 12, 2016

China fears drive risk-off flows - BofAML

Research Team at BofAML, suggests that the largest China FX reserve outflows on record has kept the markets nervous and China fears are driving risk-off sentiment with flows out of EM Asia & commodity currencies and into JPY and EUR while the sentiment also hits GBP as real money clients reduce a persistent GBP long position.

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Jan 12, 2016

Oil prices slump brings risk aversion back on the table - MUFG

Lee Hardman, Currency Analyst at MUFG, suggests that global investors still remain firmly in risk-averse mode in the near-term as the market focuses switches back to the ongoing slide in the price of crude oil towards USD30/barrel.

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