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.
“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.”
Fed rate hike uncertainty kept the USD bulls on the defensive at the start of a new trading week. Global growth concerns underpin safe-haven demand...
On Tuesday, the precious metal faced rejection near a short-term descending trend-line, extending from over three-month tops set in October through highs...
A subdued USD demand helps build on this week's rebound. Improving risk sentiment does little to prompt fresh selling. US-China trade optimism/Fed rate hike...
Bearish API report, Saudi's pledge and stronger US weigh down on oil. Attention turns towards EIA crude stocks data for fresh impetus to the oil markets...
Rising diplomatic tensions continue to underpin safe-haven demand. Subdued USD price-action remains supportive of a mildly positive tone. A modest...
Struggles to build on overnight strong up-move despite a goodish USD rebound. Bulls tracked retracing US bond yields, tough risk-on mood...
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 weakness came to a halt yesterday after the Fed's Kaplan emphasised the central bank's independence, thus reassuring markets that
Brexit uncertainty, Turkish contagion fears leave the higher-yielding GBP vulnerable. Attention turns to Tuesday UK jobs report amid empty docket today...