Given the tensions in the Persian Gulf region and today's meeting of OPEC members, there is a likely price moderation. We are in the bear array And we evaluate support areas in of 55.5 to 56. (Today watch list)
The last week was not that calm. The Fed on Wednesday it clear that they are ready to reduce the interest rate. Some of the analysts are predicting the dollar falls in the near future by 5 - 10 %. So, we are looking for dollar selling points this week. On Friday the ruble buyers experienced an unpleasant moment when the ruble literary has collapsed and lost 1 %...
As we get closer to the date of OPEC meeting this month, June 25th, Brent again is quite to be volatile and based on the status quo of the world right now, nothing is certain anymore as the trade wars may drag on into 2020 and even further in the future. All of us can read on the news that supply is surplus and demand is kinda low at the moment. Would it be enough...
Everyday around this time, OANDA:WTICOUSD makes a move and some volume comes in. I caught todays move on the hourly divergence.
JPMorgan Chase & Co analysts in connection with the rapid growth of the cryptocurrency market in recent times, and Bitcoin in particular, have thought about the question “what is its fair price?”, so-called intrinsic value. Determining the fundamental cost of cryptocurrency is a very difficult and highly ambiguous question, but considering Bitcoin as a commodity...
The previous week has been having a hard time fundamentally duo to Sino-U.S. trade war. China does not intend to a resumption of negotiation still Washington is continuous to speak from a position of strength and power. Therefore the “happy end” was very close but suddenly became subtle. Investors have been hoped for restarting the dialogue and rising in seeking...
Yesterday’s data on US retail sales could be described as weak only. Sales dropped 0.2% in April (with growth forecast at 0.2%) therefore the dollar has suffered sales. We recommended looking for points for selling the dollar yesterday because the afore-mentioned scenario was considered as fundamental one. Our position is unchanged – we short the dollar. First...
The Bank of England left the monetary policy parameters unchanged as we expected. Since this decision was included in the price, all the attention of traders was focused on the comments of the Central Bank and its head. The Bank of England raised its economic growth forecast (up to 1.5% of GDP growth) but warned that the situation with Brexit “darkens” the future...
Hi Guys, according to IMF Saudi Arabia would need oil at $80-$85 a barrel to balance budget. According to some other economists 2019 budget implies Brent at $70-71 per barrel with oil production at 10.2 million barrels per day. According to Ellen R.Wald Saudi Arabia does not base its oil policy on the budgetary break-even price per barrel of oil. IMHO...
Quite unclear statistics on personal income and expenses in the United States appeared on Monday. The first one came out worse than expected, and the second - better. In addition, Europe has reported a low level of consumer confidence. Firstly, the euro is very cheap, and secondly, today we are waiting for data on the GDP of the Eurozone and a data block for...
Last week was marked by a significant strengthening of the dollar growth. We noted that one of the reasons was the expectation of good data on US GDP last Friday. Preliminary data for the first quarter appeared much higher than analysts' forecasts: + 3.2% y / y, when the forecast was expected as + 2.3%. But the most interesting thing that happened after the...
Hi Guys, allegations of Human Rights violations are, IMHO, playing an important strategic role for the dynamics of supply and demand and the management of oil price control. Ellen R Wald wrote the following article published by Investing.com which I found interesting. www.investing.com At the end of the article Ellen asks the following question: QUOTE "What...
Technical perspective The first wave (24 of Dec 2018- 22 of April 2019 of the correction seems to be over, however, we might revisit 67$ area before going down. I suspect that we will reach the 60$ area within the next 60 days period. Structure-wise, the first "leg" (A wave) is opening the possibility for an extending structure, before the downtrend, or the...
sources: www.investing.com www.reuters.com www.themoscowtimes.com
The relative calm of financial markets on Thursday. Important statistics were not published yesterday. There is nothing expected to change the current situation on Friday. So, it means we continue to work in the previous vein. While there is a cooling-off period for the main issues of concern, let's talk a little about the future of the oil market. The...
The price of brent crude oil (UKOIL) seems to be moving in an uptrend of late. This is because Saudi Arabia decided to take matters into their own hands and cut production, forcing the market to drive prices up (basic economics of supply and demand!). This is also coming at a time when the whole world seems to have forgotten about the bear attack on oil last year...
As mentioned in the previous article, I would drop a screenshot of OIL to use in alignment with the USDCAD trade as they strongly correlate with prices per barrel of oil increases, we expect the USD to drop substantially. As we can see, a pullback seems inevitable however price is still flying to the upside. I will be holding the risk free USDCAD trade through...