Crude oil prices fell to their lowest since late November last week after US crude stocks reached a record high of 5 million barrels, well ahead of the forecasts for an increase of 1.9 million barrels. An agreement between the OPEC and some non-OPEC producers to reduce output by 1.8 million barrels per day in the first half of 2017 has done little to reduce bulging global oil stockpiles. Forecasts are for an increase of 1.2 million barrels. Monitor the Dollar for Binary Options trading.
Author Archives for Barry Jenkins
Dow down for eight straight session to record worse losing streak since 2011 – Binary Options Daily ReviewMarch 28, 2017 9:04 am Leave your thoughts
US Consumers’ confidence increased in February to 114.8, the highest reading since July 2001. Forecasts were for a reading of 111. Current business conditions increased compared to January and overall, consumers expect the economy to continue expanding in the coming months. Consumers are also expecting the labour market to continue its tightening. Consumer confidence is forecast to reach 113.9 this time. Monitor the Dollar for Binary Options trading.
U.S. stocks falter as Trump scraps his promised health care reform bill – Binary Options Daily ReviewMarch 27, 2017 8:58 am Leave your thoughts
News that Donald Trump had failed to progress the new health care bill came close to end of trading on Friday, the Dow had given back early gains and was around 100 points lower when the news broke, but had recovered some of the loss by the close. Expect volatility in US markets and the Dollar in the week ahead as investors digest the news and assess the possible impact this will have on the ability of Trump to progress his other major election promises of major tax reforms. Monitor the Dollar for Binary Options trading.
Dow closes lower for 6th straight session after health care vote delay – Binary Options Daily ReviewMarch 24, 2017 9:41 am Leave your thoughts
US durable goods orders rebounded in January with a rise of 1.8% after two months of declines, indicating that companies remained upbeat at the start of the year. A key factor that tracks business investment plans slipped 0.4%, excluding the transportation, orders fell 0.2%, the weakest reading since June. Business investment is expected to strengthen this year amid a bright recovery in the manufacturing sector. Orders for long lasting products are forecast to gain 1.2%, core orders are forecast to rise by 0.3% in February. Monitor the Dollar for Binary Options trading.
Retail sales in the U.K missed forecasts in January coming in at 0.3%, retail sales are the number one indicator on consumer spending and investors will be looking to see if there is an improvement. Forecasts are for retail sales to come in at 0.4% for February. Monitor the Pound for Binary Options trading.
Crude oil inventories showed that crude stocks declined modestly last week after nine weeks of increases, showing a draw of 237,000 barrels. Oil prices were little changed as the weaker Dollar was offset by a high level of US inventories. Market focus remains fixed on US production growth and elevated domestic inventory levels, it does not apply to other parts of the world. Inventories are forecast to show a return to a surplus of 2.6m barrels. Monitor the Dollar for Binary Options trading.
Sterling falls as U.K government to begin Brexit process on 29th March – Binary Options Daily ReviewMarch 21, 2017 9:02 am Leave your thoughts
Consumer prices in the UK rose at the fastest pace since June 2014 in January due to higher global oil prices and weaker sterling, Consumer prices edged up 1.8% compared with a year earlier, slightly below forecasts for a 1.9% annual increase. The Bank of England expects that inflation will rise above 2.7% in a year’s time amid higher import prices induced by the Brexit decision to leave the European Union. UK CPI is expected to rise further to 2.1% this latest reading. Monitor the Pound for Binary Options trading.
Jens Weidmann the president of the German central bank speaks in Loerrach and his speech will garner more interest this time. The market will be listening closely to see if repeats Nowotny’s words from last week about the possibility of raising the deposit rate before ending quantitative easing. Monitor the Euro for Binary Options trading.
Consumer confidence in the US dropped from a 13 year high of 98.5 in January to a three month low in February with a reading of 95.7. The results reflected clear differences between Republicans and Democrats following the election of Donald Trump as president. Republicans registered sentiment about 40 points higher than Democrats, according to the survey. The current conditions index edged down to 111.2 from a reading of 111.3 in the prior month. Future expectations six months from now decreased to a three-month low of 85.7 from 90.3. Consumer confidence is forecast to increase to 97.0 in this reading. Monitor the Dollar for Binary Options trading.
The Bank of England kept its benchmark interest rate at 0.25% and voted to continue its quantitative easing measures. The bank raised its forecasts for the UK economy, increasing the odds for a rate hike rather than a rate cut. The bank predicts the economy will grow 2% this year and the unemployment would be much lower than previously projected. Growth has remained resilient since the Brexit vote and policymakers expect growth to continue in the coming months. No changes are expected in the benchmark interest rate or quantitative easing measures. Monitor the pound for Binary Options trading.