Tag Archives: expert advisor

Oil Futures Rise To Near 3-month High As OPEC Deepens Output Cuts

Crude oil prices rose sharply on Friday after Saudi Arabia and Russia agreed on further output curbs. Positive comments on the trade deal front and upbeat U.S. jobs data contributed as well to oil’s sharp rise. The OPEC and a 10-nation coalition led by Russia called OPEC+ have agreed to deepen oil production cuts in order to prevent oversupply in the market. The new deal agreed upon during the Vienna meet will apply for the first three months of 2020. The move follows the recommendation of the oil exporting countries to deepen the cuts by 500,000 barrels per day to existing 1.2 million barrels per day. The total curb of 1.7 million barrels per day would amount to 1.7% of global crude supply. Saudi Arabia’s energy minister Prince Abdulaziz bin Salman told reporters today that the kingdom’s quota would be an additional 167,000 barrels per day and that it would continue to exceed its quota by 400,000 barrels a day, thus bringing the overall production cut to closer to 2.1 million barrels a day. West Texas Intermediate Crude oil futures for January ended up $0.77, or about 1.3%, at $59.20 a barrel, the highest settlement since September 17. On Thursday,…

U.S. Wholesale Inventories Inch Up Less Than Expected In October

Wholesale inventories in the U.S. crept up by slightly less than expected in the month of October, according to a report released by the Commerce Department on Friday. The Commerce Department said wholesale inventories inched up by 0.1 percent in October after falling by a revised 0.7 percent in September. Economists had expected inventories to rise by 0.2 percent compared to the 0.4 percent drop originally reported for the previous month. Inventories of non-durable goods climbed by 0.7 percent in October after tumbling by 1.3 percent in September, but inventories of durable goods fell by 0.3 percent for the second straight month. Meanwhile, the report said wholesale sales slid by 0.7 percent in October after edging down by 0.1 percent in September. The continued decrease in wholesale sales came as sales of durable goods fell by 0.6 percent and sales of non-durable goods slumped by 0.9 percent. With inventories rising and sales falling, the inventories/sales ratio for merchant wholesalers ticked up to 1.37 in October from 1.36 in September. The material has been provided by InstaForex Company – www.instaforex.com…

U.S. Consumer Sentiment Climbs To Seven-Month High In December

Preliminary data released by the University of Michigan on Friday showed a much bigger than expected improvement in U.S. consumer sentiment in the month of December. The report said the consumer sentiment index climbed to 99.2 in December from the final November reading of 96.8. Economists had expected the index to inch up to 97.0. With the much bigger than expected increase, the consumer sentiment index reached its highest level since hitting 100.0 in May. The current economic index jumped to 115.2 in December from 111.6 in November, while the index of consumer expectations rose to 88.9 from 87.3. Surveys of Consumers chief economist Richard Curtin said nearly all of the improvement in consumer sentiment in December was among upper income households, who reported near record gains in household wealth due to record high stock prices. “Indeed, among households with incomes in the top third of the distribution, their overall assessment of their current finances was the third highest in the past twenty years,” Curtin said. He added, “These gains were aided by declining inflation expectations, with long term inflation expectations returning to an all-time low.” The report said one-year inflation expectations edged down to 2.4 percent in December from…

Austria Wholesale Prices Fall For Sixth Month

Austria’s wholesale prices fell for the sixth straight month in November, data from Statistics Austria showed on Friday. The wholesale price index fell 2.7 percent year-on-year in November, following a 2.8 percent decline in October. Prices for waste and residual materials declined by 25.0 percent and other petroleum products fell 13.7 percent. Meanwhile, prices for live animals, and watches and jewelry grew by 18.7 percent and 10.0 percent, respectively. On a monthly basis, wholesale prices remained unchanged in November, after a 0.4 percent fall in the preceding month. The material has been provided by InstaForex Company – www.instaforex.com…

Evening review for EURUSD on 12/06/2019

Nonfarm +266 K.In the private sector +254 K.The unemployment rate fell to 3.5% from 3.6%.Very strong data and completely uncorrelated with the report from ADP two days earlier (a total of +67k).The euro made a noticeable decline.We keep purchases from 1.1035. You can put a stop at breakeven.Entry down from 1.0980.The material has been provided by InstaForex Company – www.instaforex.com…

Euro Little Changed After German Industrial Output

At 2.00 am ET Friday, Destatis has published Germany’s industrial output data for October. The euro changed little against its major rivals after the data. The euro was trading at 0.8436 against the pound, 120.68 against the yen, 1.0970 against the franc and 1.1104 against the greenback around 2:03 am ET. The material has been provided by InstaForex Company – www.instaforex.com…

Is the dollar the engine of EUR/USD pair while euro is the trailer car?

The end of the current week did not bring the EUR/USD pair any particular disappointments or victories. As expected, the dollar has strengthened its position, and the euro is striving for the same leadership, but with varying success. Thus, analysts predict a moderate rise for the pair in the near future.
According to experts, sharp movements of the EUR / USD pair are not expected before the release of the report on the American labor market (NFP). It can be recalled that this report shows the real number of jobs created. According to preliminary estimates, 186 thousand jobs appeared last month in the US economy.
In this situation, the American currency feels at its best. Even possible negative NFPs will not be able to shake its confidence. The European currency is also positive, despite the instability of its position. On Thursday, December 5, the EUR / USD pair was in an upward trend, and today, there will be attempts to resume it. Also yesterday, the pair managed to step over the bar 1.1100 and move up quickly.
Subsequently, the EUR / USD pair reached the correctional level of 1.1104, which became a significant obstacle for traders. Yesterday, the…

Analysis of EUR/USD and GBP/USD for December 6. All focus is on Nonfarm payrolls and US payroll data

EUR / USD
On December 5, the EUR / USD pair completed with an increase of 25 basis points and exceeded the maximum of wave b for the second time. Thus, another unsuccessful attempt to break through the 23.6% Fibonacci level may lead to a departure of quotes from the reached highs again. Until a breakthrough of the level of 1.1106 occurs, the option to build an upward wave and an upward trend section is not working, although the current wave marking suggests just such a development of events.
Fundamental component:
On Thursday, the news background for the euro-dollar instrument was quite interesting and strong. As I said yesterday, the euro needed strong figures for economic reports on GDP and retail sales in the eurozone. However, in reality, strong values were not needed. Retail sales in October showed an increase of 1.4%, which means a strong slowdown in growth rates from 3.1% y / y, and GDP amounted to 1.2% y / y, which coincided with the expectations of the currency market. Thus, none of the released indicators exceeded the forecast At the same time, euro currency increased during the day, however, this movement can hardly be called strong….