IronFX Daily Commentary by Charalambos Pissouros | 21/11/2016
November 21, 2016 9:49 am
Putin sees “Great Chance” of OPEC deal • Russian Pres. Putin said that he sees no obstacles to OPEC reaching an agreement later this month. • He added that Russia is willing to freeze its output at current levels. • WTI opened with a gap up and drifted higher, but with no clear details of how the cuts (if any) will be shared, I would be cautious for larger advances.
USD remains strong on rising US Treasury yields • Higher US yields and the prospect of “Trumpenomics” keep USD-demand intact.
Today: • Speakers: ECB Pres. Mario Draghi and Executive Board member Benoit Coeure.
As for the rest of the week: • Wed: FOMC publishes minutes of Nov. policy meeting. Also, US durable goods orders for Oct and Eurozone prel. manufacturing and services PMIs for Nov. • Thurs: Germany’s Ifo survey for Nov. Expectations index is exp. to rise, current conditions to decline. • Frid: Japan’s CPI for Oct. and UK’s 2nd estimate of Q3 GDP.
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Putin sees “Great Chance” of OPEC deal
• Russian Pres. Putin said that he sees no obstacles to OPEC reaching an agreement later this month.
• He added that Russia is willing to freeze its output at current levels.
• WTI opened with a gap up and drifted higher, but with no clear details of how the cuts (if any) will be shared, I would be cautious for larger advances.
USD remains strong on rising US Treasury yields
• Higher US yields and the prospect of “Trumpenomics” keep USD-demand intact.
Today:
• Speakers: ECB Pres. Mario Draghi and Executive Board member Benoit Coeure.
As for the rest of the week:
• Wed: FOMC publishes minutes of Nov. policy meeting. Also, US durable goods orders for Oct and Eurozone prel. manufacturing and services PMIs for Nov.
• Thurs: Germany’s Ifo survey for Nov. Expectations index is exp. to rise, current conditions to decline.
• Frid: Japan’s CPI for Oct. and UK’s 2nd estimate of Q3 GDP.
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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