The markets are looking forward to a number of central bank meetings this week as well as some important economic data. The currency market today saw some price gaps as well as the decline of most of the global stocks with the opening of the week, after the North Korea's the most powerful nuclear test on Sunday undermined investors' risk appetite amid reports that Pyongyang was ready to launch another missile. While the US and Canadian markets closed due to the Labor Day.
By Reuters : Oil prices edged lower on Monday, sliding away from nine-week highs, as worries lingered over high production from OPEC and the United States.
Looking ahead to a new trading week and following the release of very positive US labor market data this past weekend, this week market turns to inflation data, and whether the positive tone of data from the US economy will continue and supports the Fed's path to raise interest rates for the third time this year.
The most significant move today was a drop-in oil prices from a two-month high of 50.40$ a barrel to 48.30$ as ample global supplies countered strong demand, as well as expectations of a continuing fall in US crude inventories.
By Reuters : Asian stocks hardly budged on Monday on the first day of a new quarter while expectations of credit tightening by the world's major central banks kept global bond markets under pressure.
By Reuters : World stocks were poised to eke out slim gains for the week on Friday as a tentative recovery in oil prices spurred investors to hunt for bargains in the beaten-down energy sector and helped commodity-related currencies gain against the dollar.
As we mentioned yesterday the important support level at 42$, prices reached this level and
By Reuters : European stock markets fell for a third straight day on Thursday, as battered oil prices hovered near seven-month lows hit overnight on worries about a supply glut and falling demand.
U.S. stock index futures were lower on Wednesday as oil prices hovered near seven-month lows and were headed for their largest slide in the first half of any year since 1997.
Currently prices are moving inside a descending channel, we expect with exceeding resistance
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