Global macro overview for 04/11/2015
November 4, 2015 8:20 amVideo
Latest News
- GBP/USD: trading plan for the US session on May 29th (analysis of morning deals). The pound continues its correction May 29, 2024
- EUR/USD: trading plan for the US session on May 29th (analysis of morning deals). The euro is pushing in the channel May 29, 2024
- EUR/USD. May 29th. Bulls are running out of strength, but inflation can help them May 29, 2024
- GBP/USD. May 29th. The pound is not worried about the lack of drivers May 29, 2024
- US stock markets rally but volatility plunges – Stock Markets May 29, 2024
- Video market update for May 29, 2024 May 29, 2024
- Market Comment – Dollar trades sideways as focus turns to US yields May 29, 2024
- Nasdaq hits 17,000 milestone as market swings continue May 29, 2024
- Forex forecast 05/29/2024: EUR/USD, EUR/JPY, GBP/JPY and Oil from Sebastian Seliga May 29, 2024
- USD/JPY: trading tips for beginners for European session on May 29 May 29, 2024
- GBP/USD: trading tips for beginners for European session on May 29 May 29, 2024
- Will core PCE inflation spur a less hawkish Fed? – Preview May 29, 2024
- EUR/USD: trading tips for beginners for European session on May 29 May 29, 2024
- Technical Analysis – NZDUSD pauses advance at 61.8% Fibonacci May 29, 2024
- EUR/USD and GBP/USD: Technical analysis on May 29 May 29, 2024
- Trading plan for GBP/USD on May 29. Simple tips for beginners May 29, 2024
- Trading plan for EUR/USD on May 29. Simple tips for beginners May 29, 2024
- Technical Analysis of Intraday Price Movement of USD/CHF Main Currency Pairs, Wednesday June 05, 2024. May 29, 2024
- Technical Analysis of Intraday Price Movement of AUD/JPY Cross Currency Pairs, Wednesday May 29, 2024. May 29, 2024
- Overview of GBP/USD on May 29. Pound continues to surge and break barriers May 29, 2024
Global macro overview for 04/11/2015:
Crude oil inventories data are scheduled for release at 3:30pm today. The market expects the inventory levels at 2664k vs. 3.376k last week. From macroeconomic point of view, crude oil prices are still under pressure due to global supply problems and weak demand from China. Moreover, the OPEC members refused to cut down the production levels and that is making the problem even worse. At the top of the things the recent hawkish FED statement has made the crude oil surge 6% as the clues for the possible December rate hike had been revealed.
The current technical picture looks somehow slightly bearish as the price has touched the 61%Fibo at the level of 47.73. and now is testing this level again. The next support is seen at the level of 47.49 and the next resistance is seen at the level of 48.33.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: