Forex and others markets: economic indicators

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OPEC Cuts Oil Production, Oil Prices Go Up

Despite all the skepticism around yesterday’s unofficial OPEC summit, the members of the cartel did finally manage to agree on production cuts for the benefit of higher oil prices as well as a more stable and stronger market of crude oil. Apparently, the breaking news instantly sent oil prices higher all around the globe.

Experts pay your attention to the fact this is the first time since 2008 OPEC cut their production of crude oil. Over the last couple of years, even despite declining oil prices, they have been refusing to implement any production cuts. On the contrary it, it has been all about increasing their production slowly but surely.

To be more specific, the daily production quotas within the scope of OPEC is going to be cut from 33,24 million barrels a day down to 32,5 million barrels a day. At the same time, OPEC is determined to urge other major oil producers to hold their horses as well.

It should be noted that OPEC and Russia are not the only oil nations suffering from low oil prices. Every single oil producer out there doesn’t mind selling crude oil at a much higher prices. When the prices are low, those oil nations have to spend their reserves, which undermines the economic and financial situation in those countries.

As we have mentioned, OPEC’s decision to cut their oil production resulted in a strong in the global market of crude oil. Yesterday alone, the price gained 5% in a matter of hours.

Eurozone: Growth Versus Employment

The Eurozone economy is reported to be slowing down the pace of its growth. More and more economic indicators are confirming this statement. The Eurozone’s Composite PMI, which reflects the situation in both the manufacturing and service sector of the Eurozone, is reported to have lost roughly 3% in September 2016. To be more specific, the index shrank all the way down to 52,6 points. This is the worst result over the last 18 months.

According to Markit, the institute that conducted the survey and calculated the mentioned composite index for the Eurozone, this means that the quarterly economic growth is not going to exceed 0.35 this time.

At the same time, the mentioned research by Markit shows that the gap between the local services and manufacturing sectors keeps on widening. On the one hand, the Eurozone’s service sector is reported to be stagnating while the region’s manufacturing sector is reviving. There is difference between the Eurozone and EU economic as well. The biggest concern is that Germany, the Eurozone’s biggest and strongest economy, is also showing signs of weakness. The thing is that Germany’s private economic sector has shown the weakest performance over the last 16 months.

Indonesia will not lift a ban on the export of nickel, mentioned in Optionova

The new legislature of Indonesia will keep a boycott on fares of mineral metals, subsequent to, because of the measure in the part of handling of crude materials in the nation by 2017; will be contributed about $ 18 billion dollars. This was accounted for by the Service of Vitality and Common Assets.

GDP level of France stayed unchangeable focused around the second quarter results, figured out in Optionova

The level of French GDP for the second quarter of this current year stayed unaltered against the first quarter of this current year, when any progress was not watched. These preparatory factual information distributed by the National Measurable Office of France Insee.

Shale gas generation in the USA cools off on markets, as they discovered in Optionova

In going up the level of gas shale in the U.S., the players of prospects business will have the capacity to lay record with this stuff and stop stress over supply deficiencies. Furthermore, costs throughout the following 20 years will seize up in development. Such a conjecture was introduced by specialists of Goldman Sachs Bunch Inc.

HY Markets, Names Prospects For Commodity Markets

The situation in commodity markets is changing as investments banks are quitting the sector. Those banks that have been dominating the market over the last decade are now selling their commodity departments. Apparently, investors have become less interested in commodity trading as the commodity super-cycle is nearly over. At the same time, regulators are getting increasingly interested in the commodity sector.

What are the near-term prospects of the commodity sector? Let’s try to find it out together with HY Markets, a major broking company specializing in Forex, commodities, stocks and other financial markets.

Time to Short Cotton?

Those traders who use trend models have been shorting cotton and taking profits for a couple of weeks. The prices started going down on October 22^nd and have been declining ever since.

EURUSD: Mid-Term Outlook

According to Masterforex-V Academy, EURUSD has just finished forming wave A/B of H8, 1.3811-1.3624. In order to calculate the upward targets, the Fibo grid is built on top of the wave.

S&P Cuts EU's Rating. EURUSD Projections For 2014

The common European currency has been having hard times ever since it was introduced in 1999. According to various analysts, economists and other financial experts, the common currency is currently facing 2 major problems:

· Financial instability in Spain , Greece and Portugal along with no clear solutions for preventing such scenarios in the future.

· The very fact that the eurozone has no clear and efficient solution scares away investors and worsens the overall economic and financial situation in the area.

What are the prospects of the common currency? Let's ask Masterforex-V Academy.

Goldman Predicts US Dollar Decline In 2014

The US Dollar is usually considered as one of the key indicators of the global economic health. Undoubtedly, this is the world’s major currency. Therefore, any changes in its exchange rate influences all the financial markets and economies worldwide.

Not so long ago, Goldman Sachs made another shocking forecast for the near-term future of the US Dollar. In particular, some of the biggest banks in the world anticipates a major decline of the American currency in 2014.

Can we trust the forecast? Is the US Dollar really likely to collapse next year? Let’s ponder on these questions together with Masterforex-V Academy.

Traders Name Soybean Market Prospects

The IGC has recently published a soybean production report. The figures outpaced the forecast by 3 million metric tons, thereby reaching 285 mmt. At the same time, the consumption figures were 3 mmt higher as well (282 mmt).

Arabica Coffee Futures Have Come Close to $1 per Pound

The price of the Arabica coffee futures is reported to have come close to a major psychological level of $1 per pound. At this point, there have been no major changes in the fundamental factors driving the coffee market and coffee prices worldwide.

USD Index: Market Outlook

According to Masterforex-V Academy, the mid-term and long-term trends of the USD index became clearly bearish not so long ago. The price is currently forming a correction against wave A/B of Daily 2. The borders of the wave are 79,021 - 81,500. The can be used to built a Fibo grid.

Google Adwords Defines Most Expensive Forex Words

Contextual or targeted advertising is one of the best ways to promote web sites. Wikipedia says that «Contextual advertising is a form of targeted advertising for advertisements appearing on websites or other media, such as content displayed in mobile browsers. The advertisements themselves are selected and served by automated systems based on the content displayed to the user.»

USDJPY: Yen Weakens On Business Activity Growth

The Japanese industrial sector saw higher business activity in November Analysts report that the growth was supported by higher domestic and external demand as well as the recent weakening of the Japanese Yen.

GfK's Report Makes Investors Cautious

The pessimistic sentiment among British investors got stronger in November. This is indicated by the stats published by GfK. The Bank of England says the risks are growing for the British economic recovery.

Sugar Market: Near-Term Outlook

Global sugar prices have been gradually declining since early 2011. In particular, in February 2011, the price of sugar reached the high at 36,08 cents per pound while in lat 2013 the price is down by 50% and is trading around 17-18 cents per pound, Market Leader reports.

The oversupply of sugar is seen as the key reason for the price weakness in the global sugar market. Still, the tendency is likely to continue since the oversupply still exists.

The global market of sugar is currently seeing an interesting tendency. 2,5 years ago, the price started declining and reached the bottom at 16,7 cents per pound in July 2013. The reason is the same – the excessive supply of sugar worldwide.

At this point, the situation hasn't changed dramatically. Multiple agencies are report that the surplus is still present. The International Sugar Organization is predicting the surplus around 4,5 million metric tons of sugar in the 2013-2014 marketing year.

The current bias is bearish. The price is trading around 16,92 cents per pound. The chart below, courtesy of Masterforex-V Academy, reflects the current state of affairs in the market of sugar:

Traders On Possible Scenarios Of EURUSD

According to the analysts of Masterforex-V Academy, the price move represented by wave a (C ) of level H6-H8 (the borders are 1,3398 - 1,3621) seems to be completed. The supposition is confirmed by a fractal-zigzag reversal (FZR) of level H1. The FZR took place at 1,3580 followed by a break of pivot 1 inside the last sub-wave at 1,3559.

Consequently, the mid-term trend has been reversed and the road to the bottom of the external sloping channel (1,3294/1,3398) is open.

If the price beaks and consolidates below 1,3490, the bigger-scale uptrend will be terminated. The actual retracement Fibo grid for a(C ) H8 is built on top of 1,3398 - 1,3621.

The downward targets are:

1,3536=38%;
1,3510=50%;
1,3490=pivot 2;
1,3483=62%+sloping channel.

The alternative scenario implies the end of the downswing through forming a bigger-scale upswing with breaking above 1,3621/1,3615 and an upward FZR.

If this is the case, the Fibo grid built on top of wave A/B D1 1,3831-1,3294 will become actual:

The upward targets in this case will be:

1,3626=62%;
1,3704=76%;
1,3768=88%;
1,3831=hidden FZR.

GBPUSD: Near-Term Outlook

The analysts working for Masterforex-V Academy are currently focused on 1,5853, which is the starting point of the current long-term trend. It corresponds to the peak of wave B W1.

The upswing comping from the point is represented by wave A D1. In its turn, the wave is a part of wave a(C )/C W1.

The daily bar formed on December 2^nd resembles the one indicating a reversal. At the same time, there is a chance of seeing the price develop wave B of D1 within the framework of bC W1. The bearish price target is the bottom of the W1 sloping channel built through 1,4812/1,5853.

At this point, the price has broken the sloping channel built through 1,6132/1,6313. For the bearish scenario, the following targets looks actual:

1,6323=38%
1,6286=50%
1,6250=62%
1,6205=76%
1,6168=88%
1,6132=pivot1

Natural Gas Market: Mid-Term Outlook

The North American market of natural gas is subject to seasonality more than any other NG market. It usually sees higher prices in winter, which is natural since more NG needed during the heating season. The seasonality is reflected in NG futures prices shown by New York Merchantile Exchange (NYMEX).