Top Analysis

Oil continues its fall

oil market

The price of oil continues to fall. Sales stage in the commodities market now extends its eighth straight session and does not seem to stop. May least significant about $ 43.33 was updated yesterday. The offices of the morning were lower and this is opening the possibility of a change of $ 42. Because today’s decisions of the Bank of Japan with regard to its monetary policy relaxing, oil could continue to fall lower. Season largest US energy demand is coming to an end and reserves are starting to rise due to demand remains low worldwide. It’s hard to ignore such data. From the point of view of technical analysis, support levels are now at $ 42.87 and $ 40.60.

Gold is up, but her movements are not as positive as could be. An ounce costs (+ 0.4%) $ 1,337.9 today. According to data on the positions of traders, gold buyers today are 64% against 80% yesterday. The market could react to the end of the season for central banks meeting with a fall in demand for this asset insurance. However, while oil is selling at a rate that is, gold will gradually rise.

A barrel of Brent now trading in a range of $ 42.80- $ 43.45 range, with bears positions looking more favorable than the bulls’. Vendors have convinced themselves of a continuation of falling oil this year. If they manage to push the price down further, running a series of 10 sessions of January sales it will be updated.

Asian markets are down today. The Nikkei 225 has fallen 1.0%. The ASX Australia is down 0.3%. Shanghai Composite fell by 0.07% and the Hang Seng is down 0.8%. Futures for the S & P 500 are trading below the closing level of the previous day. The markets are affected by the decisions of July Bank of Japan in the land of the rising sun decided to further ease its monetary policy. asset purchase is to remain at 80 billion yen per year. ETF purchases are to be expanded to 6.0 trillion yen per year (previous 3.3 trillion yen). credit financing in dollars is to grow to $ 24 billion from its current $ 12 billion. The interest rate is to be kept at -0.1%, but is expected to be reduced to -0.2%.

USD on Friday morning continued to fall against the CNY. The fall has been going on for three days. The USD / CNY now goes from 6.6510 (a drop of 0.0042 or 0.06%). From a technical perspective, the instrument may fall to 6.6448, a minimum of July, while the market is getting your head around the decisions of the central bank and keep an eye on oil prices. The EUR / USD is slightly up on Friday morning, with operations carried out around 1.1080. statistics from the US yesterday with respect to the initial unemployment benefits they showed a slight increase, but the components of the report show that there are no real reasons for a worsening of the indicator. The four-week moving average rose slightly in the index. Europe is the publication of the June unemployment statistics today, along with preliminary inflation figures for July. The USA. discloses preliminary GDP data for Q2 2016. The forecasts estimate that the US economy has expanded 2.6% in the quarter compared to a quarterly increase of 1.1% at the beginning of the year.

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