IronFX Daily Commentary by Charalambos Pissouros | 18/04/2016
April 18, 2016 8:36 am
Oil tumbles after Doha talks fall apart • Major producers failed to strike a deal, as Saudi Arabia demanded Iran to participate in any agreement. • Oil prices opened with a large bearish gap, as expectations for a deal were high going into the meeting. • Prices could head even lower, as the negotiations seem to be back to nowhere. • Next scheduled OPEC meeting is on June 2nd. Until signs of a possible stabilization appear, oil may trade in a volatile manner.
Today: • US: NAHB housing index for Apr. Usually not a major market mover. • Speakers: Minneapolis Fed President Neel Kashkari.
This week: • Tuesday: RBA minutes. Germany’s ZEW survey for Apr. is exp. to improve. • Wednesday: UK employment report for Feb. • Thursday: ECB policy meeting. Bank is exp. to remain on hold, so the reaction in EUR may depend on Draghi’s comments. Sweden’s Riksbank also meets. • Friday: France, Germany & Eurozone prel. manufacturing and services PMIs, all for Apr. From Canada, the CPI for Mar.
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Oil tumbles after Doha talks fall apart
• Major producers failed to strike a deal, as Saudi Arabia demanded Iran to participate in any agreement.
• Oil prices opened with a large bearish gap, as expectations for a deal were high going into the meeting.
• Prices could head even lower, as the negotiations seem to be back to nowhere.
• Next scheduled OPEC meeting is on June 2nd. Until signs of a possible stabilization appear, oil may trade in a volatile manner.
Today:
• US: NAHB housing index for Apr. Usually not a major market mover.
• Speakers: Minneapolis Fed President Neel Kashkari.
This week:
• Tuesday: RBA minutes. Germany’s ZEW survey for Apr. is exp. to improve.
• Wednesday: UK employment report for Feb.
• Thursday: ECB policy meeting. Bank is exp. to remain on hold, so the reaction in EUR may depend on Draghi’s comments. Sweden’s Riksbank also meets.
• Friday: France, Germany & Eurozone prel. manufacturing and services PMIs, all for Apr. From Canada, the CPI for Mar.
Join us for more technical and fundamental analysis: http://www.ironfx.com
To get the latest Forex trading news you should:
• Download the IronFX Research app: http://goo.gl/jhQIxO
• Like us on Facebook: https://www.facebook.com/IronFX
• Follow us on Instagram: https://www.instagram.com/ironfx
• Follow us on LinkedIn: https://goo.gl/wSEbPN
• Follow us on Twitter: https://twitter.com/IronFXGlobal
• Circle us on Google+: https://www.google.com/+Ironfxglobal
• Subscribe to our Channel: http://bit.ly/1foFmCU
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