Search

Client support: Phone: (+357) 22314160

FX & CFD trading involves significant risk

News

Show news:


01.07.2013 15:40

Oil: an overview of the market situation

The price of oil increased significantly, rising at the same time above $ 103 a barrel, as more encouraging data from Europe and better-than-expected, official data from China balanced the uncertainty about the prospects for U.S. monetary policy.

As it became known today, the index of business activity in the euro area industry (Manufacturing PMI) in June rose slightly stronger than originally assumed. These data are another sign that the currency bloc's economy begins to emerge from a state of prolonged recession.

The index rose to 48.8 points last month compared to 48.7 points in May, according to the Markit Economics. Economists expected the continued importance of 48.7 points.

Although the index value below 50 suggests decline of business activity, the rate of decline of activity is now slowing, which is encouraging.

The growth in June was the strongest since July 2010 Economists believe that in the second quarter ended 18-month decline of the economy in the eurozone.

According to the updated forecast of the European Commission of the euro area's GDP will shrink this year by 0.4%. In 2012, euro area GDP down by 0.6%.

We also add that the markets continue to watch the U.S. Federal Reserve's pending guidance on the future of its program of bond purchases. Recall that last month the head of the Federal Reserve signaled that the U.S. central bank may go for a reduction in the amount of bond purchases at its September meeting, which could strengthen the dollar. But the situation will also depend on the U.S. labor market. Add that many investors are waiting for Friday's employment report, which just may change the size of the program. It should be noted that the weak report would undermine the dollar again and raise the price of oil.

The cost of the August futures on U.S. light crude oil WTI (Light Sweet Crude Oil) rose to 97.96 dollars a barrel on the New York Mercantile Exchange.

August futures price for North Sea Brent crude oil mixture rose 1.06$ to $ 103.07 a barrel on the London exchange ICE Futures Europe.

Market Focus

  • Donald J. Trump was inaugurated as the 45th president of the United States
  • Canada: Retail Sales, m/m, November 0.2% (forecast 0.5%)
  • U.S.: Nonfarm Payrolls, January 227 (forecast 175)
  • Eurozone: Consumer Confidence, January -4.9
March 2017
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
  • 2010
  • 2009
  • 2008
  • 2007
  • 2006
  • 2005
  • 2004
  • 2003
  • 2002

Quotes

All posted material is a marketing communication solely for informational purposes and reliance on this may lead to loss. Past performance is not a reliable indicator of future results. Please read our full disclaimer.

To maximize our visitors browsing experience TeleTrade uses cookies in our web services. By continuing to browse this site you agree to our use of cookies. If you disagree, you may change your browser settings at any time. Read more

  • © 2011-2017 TeleTrade-DJ International Consulting Ltd

    TeleTrade-DJ International Consulting Ltd is registered as a Cyprus Investment Firm (CIF) under registration number HE272810 and licensed by the Cyprus Securities and Exchange Commission (CySEC) under license number 158/11.

    The company operates in accordance with Markets in Financial Instruments Directive (MiFID).

  • The information on this website is for informational purposes only. All the services and information provided have been obtained from sources deemed to be reliable. TeleTrade-DJ International Consulting Ltd ("TeleTrade") and/or any third-party information providers provide the services and information without warranty of any kind. By using this information and services you agree that under no circumstances shall TeleTrade have any liability to any person or entity for any loss or damage in whole or part caused by reliance on such information and services.

  • TeleTrade cooperates with SafeCharge Limited, which is an electronic money institution authorized and regulated by the Central Bank of Cyprus and is a principal member of MasterCard Europe and Visa Europe. We also cooperate with Moneybookers and Neteller, which offer electronic e-wallet services authorized and regulated by the Financial Conduct Authority.

    Please read our full Terms of Use.

  • To maximize our visitors browsing experience TeleTrade uses cookies in our web services. By continuing to browse this site you agree to our use of cookies. If you disagree, you may change your browser settings at any time. Read more

    TeleTrade-DJ International Consulting Ltd currently does not provide its services to residents or nationals of the USA, and also doesn't provide retail Forex and CFD accounts to residents or nationals of Belgium.

Connect with Us
Share on
social networks
Online
consultant
Request a callback
Top Page