CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Open Account
☰
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Open Account
✖

WTI With Trumps Intervention Oil May Bottom

By :   Matt Weller CFA, CMT , Head of Market Research
March 19, 2020 3:06 PM

The London index is being pulled down by oil stocks and travel operator TUI with moves slightly exaggerated as trading floors are quieter than usual because of the summer holidays. Most European indices are also trading in negative territory with the exception of the DAX, which is struggling around the flat line.

The pound is flirting with recent lows and is trading at 1.2858 against the dollar and 1.1094 against the euro.

On the red note, the US said on Wednesday it will bring in new sanctions against Russia by the end of this month because of the nerve-agent attack against a former Russian spy Sergei Skripal. The move, however, will also hurt US companies which export millions of dollars’ worth of technology like turbines and calibration equipment to Russia.

Travel sector experiencing its own, not very pleasant, heat wave

Ryanair continues to be embroiled in a long running dispute with its pilots over wages and is facing industrial action on Friday, one of the busiest days in the summer travel season, now that the company’s German pilots have said they will join their peers from Ireland, Belgium and Sweden for a walkout. The Irish budget airline was due to run 2,400 flights on Friday to take passengers to their summer holiday destinations but said this morning it has cancelled 250 flights for the day.

Anglo-German travel operator TUI is also having a bad day. The company’s shares plunged nearly 9% after it said that it made a net loss in the third quarter of this financial year of €110.5 million. Although the company said that it is sticking to its guidance of double digit growth this year the market seemed highly unconvinced and bid the stock lower.

Copper rallies, helps miners

Chilean miner Antofagasta is topping the list of FTSE risers helped by the fact that copper is one of a few commodities not trading in the red this morning. Instead the red metal is up 0.87% and Antofagasta is trading 1.21% higher. Metals trader Glencore, which last week said that it increased its production of copper in the Democratic Republic of Congo by 31%, is also trading up 0.7%.


StoneX Financial Ltd (trading as "FOREX.com") is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, FOREX.com does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date.


This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it. No opinion given in this material constitutes a recommendation by FOREX.com or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.


The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although FOREX.com is not specifically prevented from dealing before providing this material, FOREX.com does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation. For further details see our full non-independent research disclaimer and quarterly summary.


CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. CFD and Forex Trading are leveraged products and your capital is at risk. They may not be suitable for everyone. Please ensure you fully understand the risks involved by reading our full risk warning.

FOREX.com is a trading name of StoneX Financial Ltd. StoneX Financial Ltd is a company incorporated in England and Wales with UK Companies House number 05616586 and with its registered office at 1st Floor, Moor House, 120 London Wall, London, EC2Y 5ET. StoneX Financial Ltd is authorised and regulated by the Financial Conduct Authority in the UK, with FCA Register Number: 446717.

FOREX.com is a trademark of StoneX Financial Ltd. This website uses cookies to provide you with the very best experience and to know you better. By visiting our website with your browser set to allow cookies, you consent to our use of cookies as described in our Privacy Policy. FOREX.com products and services are not intended for Belgium residents.

© FOREX.COM 2026