Brent Crude Oil fell by 5.7% on Tuesday, sinking below $65 per barrel. American WTI is close to $55.50, the lowest value seen in the last year.
Investors have shifted their focus away from the fears of decreasing oil shipments due to sanctions against Iran, as there are many countries on the horizon who want to replace the drop-off shipments inside OPEC+. This is Iraq, Russia and Saudi Arabia. Meanwhile, Iran wants to retain its markets share, hoping to keep a significant part of its exports.
An important driving pressure of oil prices in the last month was the resumption of speculation around overproduction. The forecasted growth of production in the next year exceeds, almost twice, the forecasted increase in demand.
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Investors have shifted their focus away from the fears of decreasing oil shipments due to sanctions against Iran, as there are many countries on the horizon who want to replace the drop-off shipments inside OPEC+. This is Iraq, Russia and Saudi Arabia. Meanwhile, Iran wants to retain its markets share, hoping to keep a significant part of its exports.
An important driving pressure of oil prices in the last month was the resumption of speculation around overproduction. The forecasted growth of production in the next year exceeds, almost twice, the forecasted increase in demand.
Read more
FxPro News
FxPro Blog for forex traders
Brent Crude Oil fell by 5.7% on Tuesday, sinking below $65 per barrel. American WTI is close to $55.50, the lowest value seen in the last year.
In...
In...
Important upcoming events and publications for November 15 (GMT):
🇬🇧 09:30 UK Retail sales continues a series of important macroeconomic publications that can seriously affect the pairs with #GBP. In the middle of the year there was a jump in sales, but now it is gradually losing the strength. A further slowdown in annual rates is expected from 3.0% to 2.8%. A sharper fall can hurt the pound.
🇪🇺 10:00 Euro area Trade balance can temporarily increase the volatility in pairs with #EUR. The surplus of foreign trade has been declining in recent months in response to a slowdown in global economic growth. Analysts expect the surplus near the levels of the previous month. Better than forecasted data will be able to support the euro recovery
🇺🇸 13:30 US Retail sales can have a major impact on markets, including #USD quotes, in case of deviations from the expectations. Analysts are set to see a very strong increase (+0.6%) in October after several months of weak growth. If the results are stronger than expectations, it will support the growth of the US dollar on speculation around maintaining strong consumer demand.
Visit https://fxpro.news/economic-calendar/ for more information.
🇬🇧 09:30 UK Retail sales continues a series of important macroeconomic publications that can seriously affect the pairs with #GBP. In the middle of the year there was a jump in sales, but now it is gradually losing the strength. A further slowdown in annual rates is expected from 3.0% to 2.8%. A sharper fall can hurt the pound.
🇪🇺 10:00 Euro area Trade balance can temporarily increase the volatility in pairs with #EUR. The surplus of foreign trade has been declining in recent months in response to a slowdown in global economic growth. Analysts expect the surplus near the levels of the previous month. Better than forecasted data will be able to support the euro recovery
🇺🇸 13:30 US Retail sales can have a major impact on markets, including #USD quotes, in case of deviations from the expectations. Analysts are set to see a very strong increase (+0.6%) in October after several months of weak growth. If the results are stronger than expectations, it will support the growth of the US dollar on speculation around maintaining strong consumer demand.
Visit https://fxpro.news/economic-calendar/ for more information.
FxPro News
Forex Economic Calendar - FxPro News
Stay informed and plan with confidence using our FX economic calendar, designed to help traders follow key financial updates that move the market. By tracking major releases, you can make smarter decisions in forex trading, manage risk, and choose better.
There was a positive sentiment on Thursday, at the start of the trading day. However, as we saw in the past five trading days, the positive morning vibe was gone by the midst of the American session. Markets retain the pressure against the stocks of high-tech companies, which in turn pushes indices down.
This is a clear signal that rising Fed interest rates force market participants to engage in prospect activities after the end of the easy money era, when interest rates were exceptionally low. Not surprisingly, the decline of the market in October was driven by the comments of Fed’s chairman, who made it clear that the rates may exceed the neutral level.
Yesterday, we heard another statement from Fed.
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This is a clear signal that rising Fed interest rates force market participants to engage in prospect activities after the end of the easy money era, when interest rates were exceptionally low. Not surprisingly, the decline of the market in October was driven by the comments of Fed’s chairman, who made it clear that the rates may exceed the neutral level.
Yesterday, we heard another statement from Fed.
Read more
FxPro News
FxPro Blog for forex traders
There was a positive sentiment on Thursday, at the start of the trading day. However, as we saw in the past five trading days, the positive morning vi...
🗓 Important upcoming events and publications for November, 16 (GMT):
🇪🇺 08:30 Mario Draghi speech at the EU Banking Congress. His comments can spur the volatility for #EUR. Since EURUSD is close to more than a year lows, Draghi's remarks can cause a serious surge in volatility and have a noticeable impact on the trend.
🇪🇺 10:00 Euro area Consumer Price Index rarely differs from the preliminary estimate, but can still has some impact on the #EUR quotes. The market's attention is drawn to the CPI data acceleration: really sharp growth is able to support pairs with EUR.
🇺🇸 14:15 US Industrial Production is a good indicator of the business activity. It could predict the pivot points of the economic cycles. So, traders and investors will carefully examine the report. Signs of a declining growth momentum can increase pressure on the financial markets, as well as weaken the #USD on the revising interest rate expectations.
Visit https://fxpro.news/economic-calendar/ for more delails.
🇪🇺 08:30 Mario Draghi speech at the EU Banking Congress. His comments can spur the volatility for #EUR. Since EURUSD is close to more than a year lows, Draghi's remarks can cause a serious surge in volatility and have a noticeable impact on the trend.
🇪🇺 10:00 Euro area Consumer Price Index rarely differs from the preliminary estimate, but can still has some impact on the #EUR quotes. The market's attention is drawn to the CPI data acceleration: really sharp growth is able to support pairs with EUR.
🇺🇸 14:15 US Industrial Production is a good indicator of the business activity. It could predict the pivot points of the economic cycles. So, traders and investors will carefully examine the report. Signs of a declining growth momentum can increase pressure on the financial markets, as well as weaken the #USD on the revising interest rate expectations.
Visit https://fxpro.news/economic-calendar/ for more delails.
FxPro News
Forex Economic Calendar - FxPro News
Stay informed and plan with confidence using our FX economic calendar, designed to help traders follow key financial updates that move the market. By tracking major releases, you can make smarter decisions in forex trading, manage risk, and choose better.
The British pound lost about 2% on Thursday, as Brexit talks provoked a number of ministerial resignations. Meanwhile, stocks of British banks were under threat, as the declared parameters of the deal would negatively affect their influence in Continental Europe.
The GBPUSD pair has returned to the bottom, trading near this year’s lows. The focus of investors has shifted to the events regarding to Brexit, and thus the current position of the British currency is majorly affected by the market sentiment.
U.K. macroeconomic statistics has been temporarily in the shadow, although this week’s data indicate possible problems in the country’s economy.
It is worth to pay attention to the dynamics of the GBPUSD near support area at 1.2700.
Read more
The GBPUSD pair has returned to the bottom, trading near this year’s lows. The focus of investors has shifted to the events regarding to Brexit, and thus the current position of the British currency is majorly affected by the market sentiment.
U.K. macroeconomic statistics has been temporarily in the shadow, although this week’s data indicate possible problems in the country’s economy.
It is worth to pay attention to the dynamics of the GBPUSD near support area at 1.2700.
Read more
FxPro News
FxPro Blog for forex traders
The British pound lost about 2% on Thursday, as Brexit talks provoked a number of ministerial resignations. Meanwhile, stocks of British banks were un...
#WeeklyTrends:
The past week has been stigmatized by three major falls on oil, bitcoin and the pound. However, this trio seems to have managed to return back to stability.
🛢 Oil collapsed on Tuesday. WTI fell by more than 7% on that day, which was the 12th consecutive steady decline, making it the longest series in modern history. OPEC ministers failed to promise a reduction in production, while the Joint Technical Committee forecasted a production growth. The whole situation has caused major panic in the markets. Since Wednesday, oil has been steadily recovering, but it has not yet managed to fight back to even half of Tuesday’s decline, not to mention the whole 28% collapse.
⚰️ Bitcoin experienced a crash on Wednesday. Many months of sluggish dynamics turned into a sharp sell-off, when the key cryptocurrency fell under the $6000 mark. At the end of the week, BTCUSD was traded near $5500, which roughly corresponds to the cost of electricity required for its production.
💷 On Thursday, nerves could not withstand the pound. The Brexit deal has caused several resignations, which in turn affected the British currency by more than 2% within the day.
💡Meanwhile, the dollar has been decreasing during the entire week, rolling back from its 16-month highs on DXY. Technical analysis (divergention with RSI) suggests that the dollar has lost its momentum and is in a vulnerable position. This may already be the topic for next week.
The past week has been stigmatized by three major falls on oil, bitcoin and the pound. However, this trio seems to have managed to return back to stability.
🛢 Oil collapsed on Tuesday. WTI fell by more than 7% on that day, which was the 12th consecutive steady decline, making it the longest series in modern history. OPEC ministers failed to promise a reduction in production, while the Joint Technical Committee forecasted a production growth. The whole situation has caused major panic in the markets. Since Wednesday, oil has been steadily recovering, but it has not yet managed to fight back to even half of Tuesday’s decline, not to mention the whole 28% collapse.
⚰️ Bitcoin experienced a crash on Wednesday. Many months of sluggish dynamics turned into a sharp sell-off, when the key cryptocurrency fell under the $6000 mark. At the end of the week, BTCUSD was traded near $5500, which roughly corresponds to the cost of electricity required for its production.
💷 On Thursday, nerves could not withstand the pound. The Brexit deal has caused several resignations, which in turn affected the British currency by more than 2% within the day.
💡Meanwhile, the dollar has been decreasing during the entire week, rolling back from its 16-month highs on DXY. Technical analysis (divergention with RSI) suggests that the dollar has lost its momentum and is in a vulnerable position. This may already be the topic for next week.
#FxProMedia: TOP-6 most interesting publications of this week:
1️⃣ Trading View: "Bitcoin is dangerously close to collapse"
2️⃣ Yahoo Finance: "Fed Rate Hikes. Any Surprises?"
3️⃣ The Guardian: "Why 'the markets' need keeping in their place"
4️⃣ Daily Magazine: "Crypto Investors Are Trying to Save Their Funds Amid Bitcoin Crash"
5️⃣ Retail Crowd: "Fears of rising interest rates continue to push down growth stocks"
6️⃣ Investing: "Brexit News, Weak Economy And Downward Risks For Pound"
Trade with the truly Global Broker!
Trade Responsibly: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% of retail investor accounts lose money when trading CFDs with this provider.
1️⃣ Trading View: "Bitcoin is dangerously close to collapse"
2️⃣ Yahoo Finance: "Fed Rate Hikes. Any Surprises?"
3️⃣ The Guardian: "Why 'the markets' need keeping in their place"
4️⃣ Daily Magazine: "Crypto Investors Are Trying to Save Their Funds Amid Bitcoin Crash"
5️⃣ Retail Crowd: "Fears of rising interest rates continue to push down growth stocks"
6️⃣ Investing: "Brexit News, Weak Economy And Downward Risks For Pound"
Trade with the truly Global Broker!
Trade Responsibly: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% of retail investor accounts lose money when trading CFDs with this provider.
TradingView
"Bitcoin is dangerously close to collapse" by trader AlexKuptsikevich — published November 14, 2018
Bitcoin / U.S. Dollar (BITFINEX:BTCUSD). Get more trading ideas from AlexKuptsikevich. Follow market experts, get opinions and be heard! Join the largest trading & investing community on the planet.
🗓 Important upcoming events and publications for November 19th (GMT):
🇪🇺 10:00 The EU Currenrt Account Balance rarely causes a strong reaction of #EUR, but since there is just a bit news for today, markets can experience some movement, if there is a strong deviation of the data from the trend. The weakening of the euro with some delay contributes to the proficit expansion, so, the markets are waiting for the indicator’s growth above 24 billion.
🇺🇸15:00 The NAHB US Housing market index had been losing ground at the beginning of the year, but had stabilized in the 2nd half. The US real estate market is returning to the investor’s focus, because the weakening of this sector previously has become a strong indicator of the less consumer activity and now can affect the dynamics of #USD by the end of the day.
Visit https://fxpro.news/economic-calendar/ for more delails.
🇪🇺 10:00 The EU Currenrt Account Balance rarely causes a strong reaction of #EUR, but since there is just a bit news for today, markets can experience some movement, if there is a strong deviation of the data from the trend. The weakening of the euro with some delay contributes to the proficit expansion, so, the markets are waiting for the indicator’s growth above 24 billion.
🇺🇸15:00 The NAHB US Housing market index had been losing ground at the beginning of the year, but had stabilized in the 2nd half. The US real estate market is returning to the investor’s focus, because the weakening of this sector previously has become a strong indicator of the less consumer activity and now can affect the dynamics of #USD by the end of the day.
Visit https://fxpro.news/economic-calendar/ for more delails.
FxPro News
Forex Economic Calendar - FxPro News
Stay informed and plan with confidence using our FX economic calendar, designed to help traders follow key financial updates that move the market. By tracking major releases, you can make smarter decisions in forex trading, manage risk, and choose better.
Last week, the US dollar had started off with a confident 0.6% growth, updating the 16-month highs on the dollar index and throwing EURUSD down to 1.1200. However, the American currency has thereafter shifted into a defensive mode, decreasing by 1.2%, as a result of Fed’s dovish comments and lower budget tensions in Italy.
Although markets were significantly affected by the commentaries, it is fair to say that there was not substantial information out there to justify such an impact. First, Powell made it clear during his speeches that Fed was all set for the December rate increase. Predictions of the FOMC pointed out a 2-3 increase by 0.25 percentage point in 2019, against 4 hikes in 2018. This slowdown was just a repetition of an already known predicament.
Read more
Although markets were significantly affected by the commentaries, it is fair to say that there was not substantial information out there to justify such an impact. First, Powell made it clear during his speeches that Fed was all set for the December rate increase. Predictions of the FOMC pointed out a 2-3 increase by 0.25 percentage point in 2019, against 4 hikes in 2018. This slowdown was just a repetition of an already known predicament.
Read more
FxPro News
Forex - FxPro: Powell questioned the dollar’s growth trend | Daily Outlook
Last week, the US dollar had started off with a confident 0.6% growth, updating the 16-month highs on the dollar index and throwing EURUSD down to 1.1...
🗓 Important upcoming events and publications for November 20th (GMT):
🇩🇪 07:00 Producer Price Index in Germany had steadily gained momentum since February. For October, the annual growth rate is expected to accelerate from 3.2% to 3.3% y/y. PPI is regarded as an early indicator of the consumer inflation's trends. Growth above the forecasts can additionally support #EUR on expectations of the rigid ECB rhetoric.
🇬🇧 10:00 The Bank of England Governor will present an inflation report to the Parliament. Traders and investors will put their attention to the economical forecasts and the interest rates trends. These data may increase volatility on #GBP.
🇺🇸 13:30 The U.S. number of building permits had almost invariably decreased since March, causing more and more apprehensions among investors. On Monday, the NAHB index showed a sharp decline: the development of this trend is able to further weaken the #USD.
Visit https://fxpro.news/economic-calendar/ for more information.
🇩🇪 07:00 Producer Price Index in Germany had steadily gained momentum since February. For October, the annual growth rate is expected to accelerate from 3.2% to 3.3% y/y. PPI is regarded as an early indicator of the consumer inflation's trends. Growth above the forecasts can additionally support #EUR on expectations of the rigid ECB rhetoric.
🇬🇧 10:00 The Bank of England Governor will present an inflation report to the Parliament. Traders and investors will put their attention to the economical forecasts and the interest rates trends. These data may increase volatility on #GBP.
🇺🇸 13:30 The U.S. number of building permits had almost invariably decreased since March, causing more and more apprehensions among investors. On Monday, the NAHB index showed a sharp decline: the development of this trend is able to further weaken the #USD.
Visit https://fxpro.news/economic-calendar/ for more information.
FxPro News
Forex Economic Calendar - FxPro News
Stay informed and plan with confidence using our FX economic calendar, designed to help traders follow key financial updates that move the market. By tracking major releases, you can make smarter decisions in forex trading, manage risk, and choose better.