Following strong sales over the prior week, crude oil prices were higher this week in response to the latest data from the Energy Information Administration showing that US crude oil inventories declined by 5.3 million barrels. [shortcode-variables slug="act_tradeideas"] Breakdown of the data for the week ending September 7th US crude...
Daily Forex Market Preview, 13/09/2018 The U.S. dollar eased back strongly on Wednesday. The United States was seen making attempts to hold trade talks with China. On the economic front, data from the Labor Department showed that producer prices fell 0.1% in August unexpectedly. This was the first monthly decline since February 2017. Economists...
The latest report from the Energy Information Administration showed that US crude oil inventories last week fell back to their lowest levels since 2015. In the week ending August 31st, commercial US crude stocks shrank by 4.3 million barrels to 401.49 million barrels. [shortcode-variables slug="act_tradeideas"] Trade Concerns Weigh Despite ...
EURUSD Non-Commercials reduced their net long positions in the Euro last week selling 2k contracts to take the total position to 34k contracts. EUR has now been net sold for each consecutive week over the last month as the market has adjusted its view in line with the ECB’s declaration that rates will be on hold until at least summer 2019. ...
All eyes were on Vienna last week as the OPEC nations and Russia met over two days for the semi-annual OPEC meeting. The main focus of the meeting was whether the OPEC nations and Russia could agree to reaching a deal to plug the void left by Iran. Iran was cut off from the Oil markets following the U.S. Trump administration pulling out of th...
Twitter is a popular hub for commodity traders across the world with live tweets being used to track everything from rainfall patterns to commodity prices. So, whether you’re an agricultural trader/broker or are simply interested in the commodities market, here is the first installment of Orbex's Top 10 Commodity Traders on Twitter that you m...
Fundamental Analysis & Overview OPEC, the cartel of petroleum exporting nations, are holding meetings today, the 22nd of June 2018. This meeting is held as usual in Vienna and it will most likely have a direct impact on the price of crude oil. The United Arab Emirates oil minister, who is also the President of OPEC, stated recently th...
The upcoming OPEC meeting this week has taken on a great deal of focus given recent developments. Last week Russian and Saudi Arabian leaders met alongside the opening game of the World Cup to discuss plans to increase oil production while maintaining the petro-alliance forged in 2016. The proposals are centred around forming an OPEC+ group that...
In this video, besides the wave counts updates and articles follow-up, Richard is also stepping outside his comfort zone and giving a real-time example on how fundamental events affect the market and how structures become more and more complex over time. [shortcode-variables slug="applyrichardsta"]
While most of the world was concentrating on the football last night, with Saudi Arabia and Russia opening the 2018 world cup tournament, the two countries were also meeting for another important reason. Alongside the sports, President of Russia, Vladimir Putin, met with Saudi Arabian Crown Prince, Mohammad Bin Salman, for talks aimed at boostin...
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