empty
09.11.2016 12:22 PM
Global macro overview for 09/11/2016

Global macro overview for 09/11/2016:

The Crude Oil Inventories data are scheduled for release at 03:30pm GMT today. The global investors are anticipated only a moderate build up of 1040k barrels in stockpiles, after the all-time high stockpiles from last week, 14420k barrels. The market analysts doubt regarding recent OPEC deal are rising, despite OPEC Sectary General's fresh commitment to a deal made in Algiers in September to cut output. Moreover, during the US Presidential Election campaign, Donald Trump presented an "America-first energy" plan. According to the plan, he promised to deregulate US energy production by removing the limitations and that could result into a $50 trillion in domestic oil, natural gas and coal energy. In conclusion, the global investors might soon face a massive domestic production growth policies when/if Donald Trump will formerly become president and will start to fulfill his promises regarding the energy sector. This might eventually push the crude oil prices even lower.

Let's now take a look at the Crude Oil technical picture at the 4H time frame. So far the technical support at the level of 43.00 has held the line and now it looks like the bulls are trying to bounce from this level. Nevertheless, the market is still trading out of the dashed blue channel and below all of the moving averages. The next resistance is seen at the level of 45.40.

This image is no longer relevant

Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST

Recommended Stories

USD/JPY: Analysis and Forecast

The Japanese yen continues to be on the defensive against the U.S. dollar, as global risk sentiment improves following new stimulus measures announced by China over the weekend. This

Irina Yanina 11:35 2025-03-17 UTC+2

USD/CAD: The Pair Starts the New Week with Caution

The USD/CAD pair begins the new week with caution, fluctuating within a narrow range above 1.4350 and remaining above the 50-day SMA. However, fundamental factors suggest potential downside risks. Positive

Irina Yanina 11:05 2025-03-17 UTC+2

Are stock investors poised to buy shares during nosedive?

Anything can happen sooner or later. The S&P 500 entered correction territory in just 16 trading sessions. In the previous 24 instances where stocks dropped 10% from recent record highs

Marek Petkovich 09:32 2025-03-17 UTC+2

Markets Will Remain in a Depressed State for Some Time (we expect a renewed decline in #Bitcoin and #Litecoin)

Global financial markets continue to be heavily influenced by the policies of the U.S. president, who is disrupting the established economic and geopolitical framework that existed before him. Naturally, this

Pati Gani 09:15 2025-03-17 UTC+2

Dollar Sells Off, Recession Threat Grows, S&P 500 Index Risks a Major Collapse

The dollar sell-off continues without signs of slowing down. According to the CFTC report, the net long position on the USD decreased by another $4.6 billion over the week, reaching

Kuvat Raharjo 08:52 2025-03-17 UTC+2

GBP/USD Pair Overview – March 17: The Market Has Fallen Asleep. Nobody Cares About the Economy

The GBP/USD currency pair completely stagnated on Friday. The chart below clearly shows that there was significant volatility during the first three days of the week before last when

Paolo Greco 04:05 2025-03-17 UTC+2

EUR/USD Pair Overview – March 17: No Hint of Correction

The EUR/USD currency pair did not continue its sluggish downward movement from Wednesday and Thursday on Friday. As a result, we will have to wait once again for a correction

Paolo Greco 04:05 2025-03-17 UTC+2

US Dollar: Weekly Preview

America will once again be a major focus in the news. Surprisingly, it won't primarily be due to economic updates or the Federal Reserve meeting, but rather news surrounding Donald

Chin Zhao 23:05 2025-03-16 UTC+2

EUR/USD Weekly Preview: All Eyes on the Fed

After experiencing a significant surge of 500 pips, the EUR/USD pair has settled into a period of stagnation, awaiting further news. The Federal Reserve may either alleviate or heighten concerns

Irina Manzenko 23:05 2025-03-16 UTC+2

What to Pay Attention to on March 17? A Breakdown of Fundamental Events for Beginners

There are very few macroeconomic events scheduled for Monday, with the only notable report being on retail sales in the US. It's important to note that the market has shown

Paolo Greco 22:27 2025-03-16 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.