Wednesday’s Key Economic Data
Today’s Key Economic Data
Today’s Key Economic Data
When considering such as bearish chart as for crude oil, it’s interesting to play a mind game and consider it as perhaps a stock chart – an Enron or a Worldcom, and the prospect of oil going to zero.
Today’s Key Economic Data
Today’s Key Economic Data – Remember this morning we get the government’s non-Farm Payroll report today at 8:30am EDT.
Today’s Key Economic Data
For oil prices, the new year could hardly be described as happy, as the relentless decline in prices continues, with December’s pause now starting to fracture, as February’s WTI contract picks up downside momentum.
In my post of 5 days ago I highlighted how a confluence of factors had the potential to drive oil prices even lower, and down towards the $32 per barrel regions, last seen in 2009.
These are interesting times for oil traders and speculators with Friday’s OPEC meeting in Vienna now on the horizon, and the question that will then be answered is whether the group will cut output to stem the supply glut that is now increasingly having to be held offshore around the oceans of the world.
The Federal Reserve’s upcoming December meeting is likely to result in an interest rate hike; the majority of analysts are expecting the bank to make a move.
Many of the world’s greatest investors have been willing to buy at a time when the majority of the market was turning away from a particular sector.