All eyes on the OPEC meeting at Vienna - DB

24 November, 2014

FXStreet (Barcelona) - Analysts at Deutsche Bank note that the Thursday’s OPEC meeting at Vienna will be a closely watched affair with speculations going around that there will be a 1m a day cut in barrels produced.

Key Quotes

“There has been no shortage of news-flow around the event recently with prices declining sharply over the last couple months in anticipation that OPEC will not cut production.”

“In recent weeks it appears that the camp has become split with the likes of Saudi Arabia and other low-cost producers with large FX reserves happy to run down the price to gain market share.”

“On the other hand the likes of Venezuela and more recently Iran are reported (Bloomberg) as saying that they may propose a 1m a day cut in barrels produced. They are campaigning for higher prices to balance their budget and improve fiscal positions. “

“We will no doubt hear further statements this week from producers in the run up to the meeting so it’s something to keep an eye on.”


Source link  
USD/JPY remains in daily range

Struggles to build on overnight strong up-move despite a goodish USD rebound. Bulls tracked retracing US bond yields, tough risk-on mood...

US Dollar Index challenges recent tops

The index rebounds from tops and tests 95.70. Yields of the US 10-year note ease a tad from peaks around 2.90%. US trade balance figures next of relevance...

USD losing ground in the longer run

USD weakness came to a halt yesterday after the Fed's Kaplan emphasised the central bank's independence, thus reassuring markets that


GBP/USD on the offers around 1.2750

Brexit uncertainty, Turkish contagion fears leave the higher-yielding GBP vulnerable. Attention turns to Tuesday UK jobs report amid empty docket today...

Gold bears await a break below

The commodity extended last week's rejection slide from $1235 horizontal resistance and remains within striking distance of an important horizontal...

Gold near term weakness

Gold has fallen to a yearly low, as it lost around 4% in June itself (end-of period prices), contrasting sharply with the above $13000/oz. price performance in the early part...


Dollar holds weaker below mid-94.00s

Fading German political uncertainty lifts EUR and prompts some weakness. Flattening of the US yield curve further collaborates to the weaker tone...

FOMC will raise rates today

At this point, it would be extremely surprising were the Committee to forego a rate hike. Economic data have indicated accelerating activity over the...

Gold struggles despite softer USD

Fails to benefit from the ongoing USD retracement slide and escalating trade tensions. Fading safe-haven demand/rising US bond yields/ECB QE...


In the past 24 hours Bitcoin has gained 1.13% and reached $6511.00743361. Open your trading account with the best cryptocurrency brokers on special terms today.

In the past 7 days the EUR/USD pair has gained 0.6503% and is now at $1.1736. Start trading and making money on Forex today.

In the past 7 days Ethereum has gained 5.09% and is now at $219.151337269. Have the most popular cryptocurrencies compared online 24/7.


Top Brokers offering Daily Forex Market Reviews


Forex Currencies Forecasts


Top 10 Forex Brokers 2018

# Broker Review
1easyMarketseasyMarkets90%
2FXTMFXTM88%
3HYCMHYCM87%
4Alfa-ForexAlfa-Forex86%
5FxProFxPro85%
6FIBO GroupFIBO Group84%
7OctaFXOctaFX83%
8HotForexHotForex82%
9FXCMFXCM79%
10AvaTradeAvaTrade77%
  


Share: