IronFX Daily Commentary by Charalambos Pissouros | 29/11/2016
November 29, 2016 9:25 am
Oil prices gain as Iraq pledges to cooperate with OPEC • WTI prices traded in a volatile manner yesterday but finished higher overall. • Prices boosted by Iraq: will cooperate to reach an agreement “acceptable to all”. • Expect more volatility over the next days. Near-term direction of WTI likely to be driven almost entirely by fresh headlines. • As far as a meaningful deal goes, the bar remains high. Everybody wants higher prices, but nobody wants to cut production.
Today: • Germany: Prel. CPI for Nov. is exp. to accelerate. This could signal that Eurozone’s CPI (tomorrow) may follow suit, and thereby support EUR. • France & Sweden: GDP data for Q3 from both countries. • US: 2nd estimate of Q3 GDP is exp. to be revised slightly higher. USD-positive. Also, CB consumer confidence index for Nov. • Speakers: New York Fed President William Dudley.
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Oil prices gain as Iraq pledges to cooperate with OPEC
• WTI prices traded in a volatile manner yesterday but finished higher overall.
• Prices boosted by Iraq: will cooperate to reach an agreement “acceptable to all”.
• Expect more volatility over the next days. Near-term direction of WTI likely to be driven almost entirely by fresh headlines.
• As far as a meaningful deal goes, the bar remains high. Everybody wants higher prices, but nobody wants to cut production.
Today:
• Germany: Prel. CPI for Nov. is exp. to accelerate. This could signal that Eurozone’s CPI (tomorrow) may follow suit, and thereby support EUR.
• France & Sweden: GDP data for Q3 from both countries.
• US: 2nd estimate of Q3 GDP is exp. to be revised slightly higher. USD-positive. Also, CB consumer confidence index for Nov.
• Speakers: New York Fed President William Dudley.
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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