ONLINE FOREX BROKER
2022-12-20 • Updated
Today, OPEC+ is expected to announce how much exactly oil they will supply to the oil market in the coming months. More specifically, what the supply increase will be. The Saudi approach favors a cautious strategy with an expected 500,000bdp increase - that stands against the Russian view on the matter that supposes 1,500,000bpd should be added to the daily supply. That'll be known this Thursday evening, most probably.
In the meantime, a missile landed at the Saudi Aramco site near Jeddah. That was one of the two incidents claimed by Yemen's Houthis (fighting against the UN-recognised government in Yemen) who allegedly attacked a Saudi airbase as well. That might have been the main factor that made the oil price rise to $62 recently. Another factor was the fall of the US oil inventories that spurred the price to the upside.
Now, while Saudi Arabia achieved to produce an image of a very flexible and cautious oil market player, they have a very strong negotiating leverage currently - that 1mln bpd that they voluntarily cut from their production plan to support the price. That's just to say, be prepared to see anything from a modest increase lower than the market expectation to the highest reasonable number. At the end of the day, it's OPEC - things are rarely straightforward there.
The S&P 500 had a good week due to the impressive start of Q1 earnings and favorable inflation data. In March, the consumer price index rose 5%, lower than the previous month's 6%, and met economists' expectations.
The previous year 2022, was undoubtedly tumultuous for the stock markets, with several stocks plummeting across multiple industries. Analysts have blamed the hard times on inflation, hawkish federal reserve policies, an impending global recession, and the ongoing crisis in Ukraine. This year, however, we're beginning to see some recovery in the stock markets. This article will find a few stocks worth buying this year.
In a call scheduled for January 25, 00:30 am GMT+2, Microsoft will publish the company's earnings for the final quarter of 2022 and comment on the results, projections, and outlook for the nearest future of the company.
Let's dive into the world of gold. Currently, the price of gold, represented by XAUUSD, is stuck in indecision, hovering around the $1,975 mark. The market is anxiously awaiting two important factors: the release of the Federal Reserve's meeting minutes and the extension of the US debt ceiling.
Hey guys, this is the last full trading week in May, and many forward-looking individuals like myself are already preparing themselves to seize whatever opportunities June may have in store. On this note, I will review a few commodities that have satisfied my quest for swing-trading opportunities in the coming month. Follow me!
The Bank of England (BoE) has dramatically shifted its economic forecasts. They no longer expect a recession in the UK and have upgraded their growth projections. This year, the BoE predicts GDP growth of +0.25%, a significant improvement from previous expectations. Next year's forecast is even more optimistic, with a projected growth of 0.75%.
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