Yesterday oil quotes came close to the resistance level of 49 dollars per barrel. After 4 days of growth, the market looks overbought and correction seems possible. US dollar gains will put pressure on the oil market as well. Published today, the data from US Information Energy Agency shows that last week, crude oil inventories have fallen by -2.508 million barrels, while analysts expected an increase of 0.522 million barrels.
The publication of the last Fed meeting protocols can also exert a strong influence on the oil market. However at the American session markets keeps on gaining trying to settle above $49.
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Asian stock markets are mostly down, with Japan a notable outperforming (closing up and indices holding on to modest gains as the Yen continued to decline against the Dollar...
October 26, 2016 AUD gains on better than expected CPI numbers
The Australian Bureau of Statistics released the consumer price index data for the third quarter. Official records showed that CPI advanced 1.3% on the year in the third quarter of 2016...
October 25, 2016 US flash Markit PMI jumped 1.7 points to 53.2 in October
Asian stock markets are mostly down, as the positive confidence indicators out of Europe and the U.S. yesterday were overshadowed by weak GDP numbers from South Korea, which weighed on most markets. Topix and Nikkei outperformed, with a weaker Yen underpinning exporters...
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