BUZ INVESTORS Oil slips below $52 The commodity is trading at $49.12 per barrel at 09:40 GMT this morning, 0.14% lower from the New York close.

Oil rebounds as Saudi Arabia hints at supply cuts beyond 2017

Chart | Calendar   | TRADE NOW | CRUDE OIL

Oil rebounds as Saudi Arabia hints at supply cuts beyond 2017

Oil

BUZ INVESTORS   Saudi Arabia hints This morning at 09:40 GMT, the commodity is trading at $46.13 per barrel, 0.73% lower from the New York close. The commodity traded at a high of $46.98 per barrel and a low of $45.99 per barrel this morning. On Friday, crude oil traded 2.38% higher in the New York session and closed at $46.47 per barrel, after Saudi Arabia assured that Russia is ready to join OPEC in extending crude production cuts to reduce a global supply glut. Immediate downside, the first support level is seen at $45.01 per barrel, while on the upside, the first resistance level is at $47.11 per barrel.

Crude oil futures were sent on a roller-coaster ride Monday morning, trying to retake the $47 level after Saudi Arabia’s oil minister said a deal to cut production could be extended into 2018.

The election of Emmanuel Macron, a pro-free trade centrist, as France’s next president also helped to assuage concerns that the European economy may see further headwinds.

West Texas Intermediate crude CLM7, -0.02% traded 24 cents higher, or 0.5%, at $46.45 a barrel, while July Brent LCON7, -0.08% on London’s ICE Futures exchange climbed 28 cents, or 0.6%, to $49.38 a barrel.

 



Saudi Arabia hints

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source: tradingeconomics.com
Crude Oil decreased 0.04 USD/BBL or 0.09% to 46.20 on Monday May 8 from 46.22 in the previous trading session. Historically, Crude oil reached an all time high of 145.31 in July of 2008 and a record low of 1.17 in February of 1946.

Crude oil is the world’s most actively traded commodity. Crude Oil prices displayed in Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments. Our market prices are intended to provide you with a reference only, rather than as a basis for making trading decisions. Trading Economics does not verify any data and disclaims any obligation to do so. This page provides – Crude oil – actual values, historical data, forecast, chart, statistics, economic calendar and news. Crude oil – actual data, historical chart and calendar of releases – was last updated on May of 2017.

 

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Clinton Hints at Comeback to ‘Shine a Light’ on Issues

Clinton Hints at Comeback to ‘Shine a Light’ on Issues

Former presidential candidate Hillary Clinton hinted Friday that she is ready to re-enter public life. Clinton said, “I am ready to come out of the woods,” at the end of a St. Patrick’s Day speech in Scranton, Pennsylvania, in a reference to her viral photograph while hiking in the woods near her home in Chappaqua, New… Continue reading “Clinton Hints at Comeback to ‘Shine a Light’ on Issues”

Buz Investors Japan Begins QE Tapering With the Fed expected to further tighten financial conditions following its now guaranteed March 15 rate hike, and the ECB recently announcing the tapering of its QE program from €80 to €60 billion monthly having

Japan Begins QE Tapering: BOJ Hints It May Purchase 18% Less Bonds Than Planned

Japan Begins QE Tapering: BOJ Hints It May Purchase 18% Less Bonds Than Planned

Buz Investors Japan Begins QE Tapering With the Fed expected to further tighten financial conditions following its now guaranteed March 15 rate hike, and the ECB recently announcing the tapering of its QE program from €80 to €60 billion monthly having

Buz Investors Japan Begins QE Tapering With the Fed expected to further tighten financial conditions following its now guaranteed March 15 rate hike, and the ECB recently announcing the tapering of its QE program from €80 to €60 billion monthly having run into a substantial scarcity of eligible collateral, the third big central bank – the BOJ – appears to have also quietly commenced its own monteary tightening because, as Bloomberg calculates looking at the BOJ’s latest bond-purchase plan, the central bank is on track to miss an annual target, by a substantial margin, prompting investor concerns that the BOJ has commenced its own “stealth tapering.” While in recent



OTHER STORIES BUZ TRADERS FOLLOW

Japan Begins QE Tapering

Some more details: the central bank forecast purchases of 8.9 trillion yen in bonds in March, based on the midpoint of ranges supplied in the operation plan. Maintaining that pace for 12 months will see it accumulate about 107 trillion yen of debt. At the same time, 41 trillion yen of existing holdings will mature, leaving it with a net increase of 66 trillion yen, well below the stated goal of 80 trillion yen.

The BOJ appears to be joining other banks that are seeking to jumpstart the “carry trade” for local banks and pension institutions, by steepening the yield curve. The step-back from buying super-long bonds, those with more than 10 years to maturity, comes after Governor Kuroda and his colleagues said in September that an “excessive” decline in the yields has placed a heavier burden on companies seeking to meet pension obligations.




major currencies: (EUR-USD) (USD-JPY) (USD-GBP) (USD-CHF), (USD-CAD), (AUD-USD)




Buz Investors EURUSD Marginally Higher A very light economic calendar and some easing political concerns are resulting in a modest gain in EUR/USD in today’s trading. The pair is currently at 1.0619, up 0.10% over Friday’s close.

EURUSD Euro Slide Continues as Yellen Hints at Rate Hike

EURUSD Euro Slide Continues as Yellen Hints at Rate Hike

EUR-USD

  • Buz Investors Euro Slide Continues This morning at 10:40 GMT, the EUR is trading at 1.0618 against the USD, 0.07% lower from the New York close.
  • In economic news, the Eurozone’s seasonally adjusted current account surplus narrowed in September. This morning, the pair traded at a high of 1.0635 and a low of 1.0580.
  • The Euro traded 0.86% lower against the US Dollar in the New York session yesterday, with the pair closing the session at 1.0625. The pair is expected to its find support at 1.0550 and its first resistance at 1.0715.

Euro Slide Continues

EURUSD

Euro Slide Continues   EUR/USD has ticked lower on Friday, following sharp losses in the Thursday session. Currently, the pair is trading at the 1.06 line. On the release front, it’s a quiet end to the trading week, with no major releases. German PPI posted a gain of 0.7%, beating the estimate of 0.3%. In the US, the sole economic release is the CB Leading Index, with an estimate of 0.1%. The markets will be more interested in hearing from three FOMC members, who will deliver speeches during the day. This follows Janet Yellen’s testimony before the Joint Economic Committee on Thursday.

Other Stories Buz Traders Share

Euro Slide Continues

 

US numbers were generally positive on Thursday, as the economy continues to move in the right direction. Unemployment Claims sparkled at 235 thousand, much lower than the estimate of 257 thousand. This marked the lowest weekly claims total since 1973. CPI matched expectations at 0.4%, but Core CPI came in at 0.1% shy of the estimate of 0.2%.  The Philly Fed Manufacturing Index dropped to 7.6 points, short of the forecast. On the housing front, Housing Starts remained unchanged at 1.23 million, above expectations.

The US dollar posted sharp gains on Thursday, following Fed Chair Yellen’s appearance before a congressional committee. Yellen did not explicitly acknowledge that the Fed would raise rates at the December 13-14 policy meeting, but she did say that the rate hike would be “relatively soon”. Yellen make no mention of Donald Trump’s potential policies, which could include greater fiscal spending, as she reiterated that future rate hikes should be “gradual”. The odds of a rate hike next month stand at 90 percent




EURUSD Euro breaks monthly uptrend, hints dominant down move




Euro breaks monthly uptrend, hints dominant down move

EUR-USD

  • Euro breaks This morning at 09:40 GMT, the EUR is trading at 1.1187 against the USD, 0.06% lower from the New York close.
  • With no major economic releases in the Eurozone today, investors would look forward to Eurozone’s consumer confidence data for August, slated to release tomorrow.  This morning,
  • the pair traded at a high of 1.1207 and a low of 1.1171. The Euro traded 0.95% lower against the US Dollar in the New York session on Friday, with the pair closing the session at 1.1194. The pair is expected to its find support at 1.1125 and its first resistance at 1.1294.

EURUSD Technical Strategy: Short at 1.1207

Euro breaks monthly uptrend, hints dominant down move

Euro breaks The Euro declined against the US Dollar as expected after putting in a bearish Harami candlestick patternfollowing a test of trend line support-turned-resistance. A break of support guiding prices higher since late July now hints the longer-term down trend is resuming.

From here, a break below the 38.2% Fibonacci expansion at 1.1097 opens the door for a test of the 50% level at 11014. Alternatively, a daily close above resistance in the 1.1200-15 area (23.6% Fib, trend line) sees the next upside barrier at 1.1263, the 14.6% expansion.

An intraday gap-filling bounce has offered acceptable risk/reward parameters and a short trade has been triggered at 1.1207, initially targeting 1.1097. A stop-loss will be activated on a daily close above 1.1263.Half of the position will be booked and the stop-loss trailed to breakeven when the first objective is met.

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The euro is showing little movement on Monday, as EUR/USD trades just below the 1.12 line. It’s a light day on the release front, with no Eurozone events. The US will release the Core PCE Price Index and Personal Spending. On Tuesday, Germany releases Preliminary CPI and the US will release CB Consumer Confidence.

The euro stayed close to the 1.13 for most of last week, but dropped 100 points on Friday. The sharp drop was in response to Janet Yellen’s highly-anticipated speech on Friday at the Jackson Hole meeting of central bankers. The Fed chair was crystal clear in her remarks, saying the case for a rate increase had “strengthened in recent months”. Yellen noted that the economy was close to maximum employment, inflation was steady, and consumer spending remained solid. At the same time, Yellen did not provide any timeline on a rate hike nor did she spell out what the Fed wants to see before pressing the rate trigger. On Friday, Fed members Dennis Lockhart and Stanley Fischer both came out in favor of two rate hikes in 2016, and these comments helped the dollar record broad gains on Friday. Although the Fed has revived the possibility of a September hike, a December move is considered much more likely, with odds as high as 65% according to Goldman Sachs.

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