German October Exports & Imports

Post date: Sunday, December 11 , 2016 - 11:55 UTC
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German October Trade Balance

Post date: Sunday, December 11 , 2016 - 11:19 UTC
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China November PPI YoY

Post date: Friday, December 09 , 2016 - 10:39 UTC
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China November CPI YoY

Post date: Friday, December 09 , 2016 - 10:11 UTC
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China November CPI MoM

Post date: Friday, December 09 , 2016 - 09:07 UTC
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OPEC Meeting Live Feed

Post date: Wednesday, November 30 , 2016 - 07:36 UTC
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Newest to Oldest 

 

  • OPEC REACHES AGREEMENT TO CUT OIL OUTPUT: DELEGATE
  • OPEC AGREES TO CUT OUTPUT BY 1.2M B/D TO 32.5M B/D: DELEGATE
  • OPEC ALSO CLOSE TO SECURING 600K B/D NON-OPEC CUT: DELEGATE
  • OPEC VERY CLOSE TO A DEAL TO CUT SUPPLY BY 1.4M B/D: DELEGATE
  • THERE WILL BE NO OUTPUT REDUCTION OR FREEZE FOR IRAN: MINISTER
  • IRAN WILL GO ALONG WITH ALGERIAN PROPOSAL FOR SUPPLY DEAL
  • OPEC IS CLOSE TO A DEAL, IRAN WON'T FREEZE OUTPUT: ZANGANEH
  • SAUDI'S AL-FALIH: WE GO INTO MEETING `RELATIVELY OPTIMISTIC
  • FALIH: STICKING POINT REMAINS DISTRIBUTION OF PRODUCTION CUTS
  • VENEZUELA SAYS NIGERIA, IRAN, LIBYA WOULD BE EXEMPT FROM CUTS
  • VENEZUELA EXPECTS IRAQ TO CUT PRODUCTION AS PART OF AGREEMENT
  • ALGERIA OIL MINISTER SAYS NATION WILL CUT PRODUCTION
  • VENEZUELA WILLING TO CUT ITS OUTPUT BY 80K-90K B/D: DEL PINO
  • IRAQ OIL MINISTER SAYS WE ARE HERE TO COLLABORATE, COOPERATE
  • SAUDIS HOPE FOR 600K B/D CUT FROM NON-OPEC PRODUCERS
  • IRAQ OIL MINISTER SAYS OPEC AGREEMENT IS FOR 6 MONTHS
  • SAUDI MINISTER SAYS MKT WOULD STILL RECOVER WITHOUT DEAL
  • IRAQ OIL MINISTER HOPES FOR MORE THAN $55 OIL FROM OUTPUT CUT
  • IRAQ READY TO CUT OIL OUTPUT WITHIN FRAMEWORK OF OWN INTERESTS
  • IRAQ HASN'T DECIDED LEVEL OF OIL CUT: OIL MINISTER
  • Saudi energy minister says there will be an Opec deal, "God Willing"
  • OPEC agreement not yet finalized after morning talks 
  • OPEC made progress on Iran,Iraq at breakfast meeting 
  • Nigeria oil minister says thinks there will be Opec deal on Wednesday 
  • UAE oil minister says looking at very positive Opec meeting
  •  Indonesia says doesn't think most Opec issues are easily resolvable
  • Opec changes start of meeting to 0900gmt from 1000gmt: Reuters
  •  Iran minister: Iran has not been asked to cut oil production
  •  Iran oil minister: I have good expectations for today's meeting
  •  Oil wouldn't fall more than $1-$2 if no Opec deal: Nigeria
  •  Oil at mid $50/bbl is healthy price for Nigeria: oil minister
  •  Opec `largely convergent' on need for oil output cut: Nigeria


 

Saudi Energy Minister Comments Pushing Oil Higher

Post date: Wednesday, October 19 , 2016 - 09:28 UTC
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  • We are now at the end of a considerable downturn

 

  • Fundamentals improving, oil market clearly balancing

 

  • China demand is evolving, not slowing

 

  • OPEC can exert continued stabilizing influence if members act collectively

 

  • Non-OPEC producers contribution to stabilizing market are as critical as OPEC

 

  • Alignment among oil producers is increasing

 

  • Expects oil markets to perform better in coming months, will continue to see volatility

 

  • Wants unconventional oil production to continue to meet demand growth

 

  • Some Non-OPEC production showing willingness to freeze, cut production

 

  • More clarity needed on production in Libya, Nigeria and Venezuela

 

  • ARAMCO IPO will allow it to participate in global upstream projects, particularly gas

 

  • Will soon select site for country's first nuclear plant

 

US Inflation Data Doesn’t Add Much

Post date: Tuesday, October 18 , 2016 - 13:41 UTC
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Inflation figures from the US came in slightly softer in September compared to August. However, this doesn’t change or add any thing new to the Federal Reserve’s policy makers.

 

YoY Core Inflation slowed back to 2.2% down from 2.3%, while the MoM ticked higher by 0.1% compared to the estimated 0.2%.

 

The US Dollar Index remains lower for the day, but it gradually picked up some demand. GBP and NZD have been the strongest currencies following the upside surprise in New Zealand and Canada’s core inflation.

 

From a technical point of view, the US Dollar index is likely to see higher demand. However, this may only be the case if it manages to stay above the 97.46 support area, which should be watched carefully. Yet, a downside retracement is needed because technical indicators are heavily overbought.

UK Core Inflation At 2-Yr High

Post date: Tuesday, October 18 , 2016 - 09:53 UTC
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The UK inflation figures came in with a surprise today, posting higher than market expectations at least on the longer term figures. The MoM, on the other hand, came in slightly less than expected. This caused a short term spike in GBP pairs. However, these gains have already been trimmed and we are now back at pre-announcement levels.

 

Outcomes

 

The YoY Core CPI advanced to 1.5% up from 1.3%, while estimates pointed to a rise to 1.4%. This is the highest reading in two years. Moreover, the YoY CPI advanced to 1.0% above the estimated 0.9%. However, the MoM CPI increased by 0.1%, slightly less than expected, while the MoM Core CPI matched expectations, rising by 0.2%.

 

Did the BoE Make a Bad Decision?

 

These figures keep raising questions toward the Bank of England's recent decision to increase asset purchases and cut the rates to a new record low. Was it a bad decision? Probably not. The Brexit impact is yet to be seen over the coming months. Therefore, traders seem to be ignoring the positive economic releases. This also happened two weeks ago when the PMI data showed decent improvement.

 

GBP Outlook

 

The British Pound's downtrend remains in place and sellers are still in control. This trend is unlikely to change any time soon, and that is primarily because the BoE hasn't hinted for an upcoming change in its current policy. Therefore, selling rallies remains the favorable strategy. The resistance area stands at 1.2277, which seems to be solid so far.

 

FOMC Meeting Minutes

Post date: Wednesday, October 12 , 2016 - 18:18 UTC
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  • SEVERAL VOTING FED POLICYMAKERS THOUGHT RATES SHOULD RISE 'RELATIVELY SOON' - SEPT 20-21 MEETING MINUTES

 

  • FED'S VOTING POLICYMAKERS NOTED THERE WAS A 'REASONABLE ARGUMENT' FOR EITHER HIKING IN SEPT OR WAITING FOR ADDITIONAL DATA – MINUTES

 

  • VOTING FED POLICYMAKERS GENERALLY AGREED CASE FOR HIKES HAD STRENGTHENED

 

  • MANY OF FED'S VOTING POLICYMAKERS NOTED THERE WERE FEW SIGNS OF INFLATION PRESSURE; PROGRESS ON INFLATION SLOW

 

  • SOME OF FED'S VOTING POLICYMAKERS SAID CAUTIOUS APPROACH TO HIKES COULD HELP LABOR MARKET HEAL MORE

 

  • AMONG VOTING AND NONVOTING FED POLICYMAKERS, SEVERAL SAID IT WAS A 'CLOSE CALL' WHETHER TO HIKE IN SEPT

 

  • A FEW VOTING POLICYMAKERS EXPRESSED WORRIES OVER STATEMENT'S REFERENCE TO POSTPONING HIKE 'FOR THE TIME BEING'

 

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