0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
EUR/USD
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Wall Street
Mixed
Gold
Bearish
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • Heads Up:🇯🇵 Coincident Index Prel (JUN) due at 05:00 GMT (15min) Previous: 73.4 https://www.dailyfx.com/economic-calendar#2020-08-07
  • Heads Up:🇯🇵 Leading Economic Index Prel (JUN) due at 05:00 GMT (15min) Previous: 78.4 https://www.dailyfx.com/economic-calendar#2020-08-07
  • Have you been catching on your @DailyFX podcast "Global Markets Decoded"? Catch up on them now, before new episodes release! https://t.co/Twr44cZ1GB https://t.co/61jba8hFSN
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 95.94%, while traders in US 500 are at opposite extremes with 78.70%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/rTAEMnVo1u
  • The US Dollar is now testing key levels of support against #ASEAN currencies following persistent losses What's in store for $USDSGD, $USDMYR, $USDPHP and $USDIDR now? https://www.dailyfx.com/forex/technical/article/special_report/2020/08/07/US-Dollar-Technical-Outlook-USDSGD-USDMYR-USDPHP-USDIDR.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/RqUmrK7ek3
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: -0.04% 🇬🇧GBP: -0.26% 🇳🇿NZD: -0.28% 🇪🇺EUR: -0.38% 🇨🇦CAD: -0.42% 🇦🇺AUD: -0.43% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/yEuaSlzK8I
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: France 40: -0.25% Germany 30: -0.36% FTSE 100: -0.36% Wall Street: -0.44% US 500: -0.46% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/eIQkhwpUNE
  • RT @JPan_IG: #Tencent down 10% shortly after President Donald Trump move to ban #WeChat in US. Prices caught by support at $500 so far. Ten…
  • The #Euro may pay the price for the EU’s stance on its digital sovereignty while the US Dollar eyes closely-scrutinized US fiscal stimulus talks. Get your $EURUSD market update from @ZabelinDimitri here:https://t.co/Ga3DdHod7j https://t.co/ZMnhpOkeQr
  • The S&P 500 is a stumble from a record high and the Dollar is leaning hard on a breakdown. I prefer a $GBPUSD over a AUDUSD on the volatility. Talk about NFPs and market bias in my video for today: https://www.dailyfx.com/forex/video/daily_news_report/2020/08/07/GBPUSD-and-USDCAD-Breakout-Candidates-SP-500-Complacency-Awaits-NFPs-.html?ref-author=Kicklighter&QPID=917719&CHID=9 https://t.co/1Q370CIW2m
Oil Q4 Forecast: Global Oil Demand in Question as OPEC Output Falters and US Shale Booms

Oil Q4 Forecast: Global Oil Demand in Question as OPEC Output Falters and US Shale Booms

2018-09-29 14:00:00
Tyler Yell, CMT, Peter Hanks,
Share:

The outlook for global growth has been called into question in recent months as emerging markets bow under external pressures and developed economies engage in trade wars. On top of its already-enacted $250 billion tab, the US is weighing a further $267 billion in tariffs on China. The Trump administration has also suggested it may set its sights on Japan. Similarly, NAFTA remains unresolved despite a bilateral deal between the United States and Mexico as a deadline looms. With such a comprehensive curb on economic expansion, the outlook for crude demand is concerning – and thereby so too is the commodity’s price.

Crude Oil Price Chart: Weekly Timeframe (October 2007 to September 2018) (Chart 1)

Oil Q4 Forecast: Global Oil Demand in Question as OPEC Output Falters and US Shale Booms

$71 on WTI seems to be a point of contention for the fourth quarter. Though there may not be a definitive level, the WTI’s push above $70 seems to raise the threat concerns from Donald Trump, in turn leading the President to bark at OPEC via Twitter to “get prices down now!”One thing that would “get prices down now!” would be a significantly stronger US Dollar, which tends to have global deflationary forces, and is often first seen through lower commodities and a higher USD/CNH. US producers continue to add rigs though per Baker Hughes, the number of active oil rigs has only recovered 40% of the 2014 high of 1,592 to the 2016 low of 330.

See the complete Q4’18 Oil forecast as well as forecasts for the other major currencies, equities, and Gold.

--- Written by Tyler Yell, CMT, Analyst and Peter Hanks, Junior Analyst

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.