Research Team at BBH, notes that the price of oil has fallen about 8% this week, its worst week since March.
“OPEC's decision last week not to provide a new quota coupled with news yesterday that OPEC output rose in the lead-up to that meeting have pushed prices lower. The 230k barrel per day increase in OPEC output to 31.695 mln barrels is about 900k more than its projected 2016 demand.”
“It also marks a three-year high. And this does not appear to be the peak in output. Iranian production appears to account for most of the increase, which more than offset a slight decline in Saudi Arabian output, according to OPEC data.”
October 21, 2016 EUR/USD remained unchanged after the ECB
The price maintained its bearish tone on Thursday. The EUR/USD pair stayed around its recent lows during the day. The euro slightly strengthened towards 1.1000 ahead of the US opening. The 50-EMA limited the euro recovery in the 1 hour chart...
October 21, 2016 Decisions on QE Postponed until December
Asian stock markets are narrowly mixed, with Japanese bourses managing marginal gains as the Yen falls against the Dollar. Stock futures in the U.S. are down...
October 21, 2016 EURUSD at $1.09, but declines could be limited
The ECB monetary policy meeting yesterday saw the euro give up its intraday gains to close on a bearish note. As Draghi signaled that the central bank would need time to assess the monetary policy situation...
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