Day: June 22, 2018

June 22
2018

Crude Oil Forecast: Rising Trade War Tensions to Keep a Lid on Oil Price Gains

Fundamental Forecast for Crude Oil Price: Neutral Crude Oil Analysis and Talking Points: OPEC Agree Production Hike of 1mln bpd Global Trade War Tensions Keeps a Lid on Further Gains OPEC Agree on Production Hike OPECagreed to increase output by 1mln bpd to reduce ‘over compliance’ with the current output agreement. Subsequently, WTI and Brent […]

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June 22
2018

S&P 500, DAX & FTSE – How Will Markets Repond to Weakness Next Week?

Talking Points: Several ‘high’ impact data events in week ahead; S&P technical picture weakening German employment figures and German/Euro-zone CPI; DAX broke important support BoE held on rates as expected, hawkish tone slightly dented stocks; FTSE holding key level For forecasts, trade ideas, and educational guides, check out the DailyFX Trading Guides. S&P 500 Last […]

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June 22
2018

Yuan Weakness to Persist on RRR Cut Bets, Trade War; Equity Losses May Ease

Fundamental Forecast for CNH: Bearish US-China trade war could continue to drag down the Yuan and Chinese equities. A reserve requirement ratio cut could weaken the Yuan but benefit Chinese equities. Chinese regulators may leave the Yuan falling when it continues, while support equites. How to trade news? Learn with DailyFX Free Trading Guides! Both […]

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June 22
2018

Chart Setups for Next Week – Bitcoin, Ethereum, Ripple, Litecoin

Bitcoin, Ripple, Ether, Litecoin – Charts, Prices and News – Japanese FSA crackdown, bitFlyer suspends new account openings. – Losses paint a very negative technical picture. Cryptocurrency Market Slumps on Japanese FSA Actions Six of Japan’s largest regulated cryptocurrency exchanges have been told to improve their internal auditing and customer identification processes by the FSA, […]

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June 22
2018

Major US Banks Pass First Round Fed Stress Test, Second Round Ahead

Talking Points: The major US banks passed the Fed’s Dodd-Frank stress test but now await a difficult second round Stress test performance has continued to improve since implementation in 2009 Next week’s CCAR test is the final step before capital plans are approved or denied Monetary policy, trade wars, and risk trends all loom on […]

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June 22
2018

EURUSD Firms as Eurozone PMI Suggests Recovery in Growth

EURUSD Analysis and Talking Points Eurozone PMI led higher by improve services sentiment Euro firmer as PMI indicates continued strong GDP despite soft manufacturing Eurozone Regains Momentum Despite Stagnant Manufacturing Sector Eurozone PMI data for June had been generally mixed with the service reading rising to a 4-month high at 55, above forecasts, while manufacturing […]

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June 22
2018

EURUSD Boosted by PMIs; Trade Tariffs Loom Large

EURUSD News and Talking Points – Markit PMIs give the single-currency a lift ahead of EU trade tariff implementation. – Washington is likely to respond further as trade wars escalate. The DailyFX Q2 Trading Forecasts for all major currencies, commodities and indices, are now availableto download to help you make more informed trading decisions. EURUSD […]

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June 22
2018

Crude Oil Volaitility Expected as OPEC Increase Oil Production

Crude Oil Analysis and Talking Points: Saudi Arabia and Russian Set to Turn the Supply Taps on OPEC likely to relax production quota’s question is, by how much? OPEC’s 174th ordinary meeting takes place today, while OPEC/non-OPEC ministers are due to meet on the 23rd. Expectations are for a relaxing of the current oil supply […]

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June 22
2018

USD/CAD Surges as May Canadian CPI Misses by Wide Margin

Talking Points: – May Canadian CPI comes in at +2.2%, well-below the +2.6% consensus forecast. – The Canadian Dollar has slipped across the board, with USD/CAD rallying by more than +100-pips around the figures. – The weaker inflation report coincides with already-weakening July Bank of Canada rate hike expectations. See our longer-term forecasts for the […]

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June 22
2018

US AM Digest: Crude Futures Rise as OPEC Agree to 1mln bpd Oil Production Increase

US Market Snapshot via IG: DJIA 0.6%, Nasdaq 100 0.4%, S&P 500 0.5% Major Headlines OPEC agree to 1mln bpd production hike, taking effect from July Canadian CPI falls short of expectations, prompting fresh 1yr high for USDCAD Firm Eurozone PMI keeps Euro afloat Crude Oil: OPEC tentatively agree to raise production by 1mln bpd, […]

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