Oil Demand Likely To Fall In 2017 As Prices Struggle
Crude oil, like many other commodities and markets are present, continues to remain rangebound with the bullish momentum of earlier in the month now waning.
Emerging Markets
Saudi Oil Output Offer Report Lifts Brent For Fourth Day
Ahead of next week’s talks in Algeria, Reuters reported this morning that Saudi Arabia is apparently willing to reduce its oil output for as long as Iran agrees to freeze its production at current levels.
Crude Oil Struggles To Shake Off Oversupply Concerns
Oil prices have been extremely volatile of late, without making any significant progress in either direction. The long and short of it is that the stream of mostly negative news has helped to halt the recent rally, while ahead of this month’s informal meeting of the OPEC in Algeria not many people will want to be betting boldly on an oil price plunge. Therefore consolidation is the dominant theme in
Nervous Anticipation For The US Indices
Nervous best describes US equity markets today, and with so many influences now coming to bear, and this nervous tension can only increase over the next few weeks.
Crude Turns Positive Ahead Of Oil Data
Oil prices swung wildly into the positive territory yesterday. The rally eventually came to a halt around the $50 handle for Brent and $48 for WTI, and both contracts have been trending lower from these levels until an hour or so ago.
China Securities Investor Confidence Down In July
The investor confidence index compiled by the China (FXI, quote) Securities Investor Protection Fund Corp. (SIPF) dropped from 54.9 in June to 51.6 in July.
Alibaba Q1 revenue surges 59%, best since IPO
China’s e-commerce giant Alibaba on Thursday announced revenue growth of 59 percent in the first fiscal quarter ending June, the fastest since its Initial Public Offerings.
Apple Will Cut No Investments In China Despite Sales Decline
Apple Inc., one of the world’s technological front-runners, may lose ground in China as its revenues and net profits have been declining.
IMF Prepares For Inclusion Of RMB In Its SDR Basket
The International Monetary Fund (IMF) on Monday announced its board decision to amend the rounding methodology for determining currency accounts in the Special Drawing Right (SDR) basket, in order to make technical preparations for the inclusion of the Chinese currency, Renminbi, in the SDR basket.
EURUSD Range Support July 18, 2016
EURUSD has been trading inside a range, moving between support at 1.1035 and resistance at 1.1150. Price is currently testing support at the bottom of the range and seems ready for a bounce back to the top.