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. See our updated Privacy Policy here.

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
Subscribe
Please try again
GBP/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
More View more
Real Time News
  • Trading bias allows traders to make informative decisions when dealing in the market. This relates to both novice and experienced traders alike. Start learning how you may be able to make more informed decisions here: https://t.co/rz7fqi8ZEe https://t.co/I4C6fBkYPe
  • Traders utilize varying time frames to speculate in the forex market. The two most common are long- and short-term-time frames which transmits through to trend and trigger charts. Learn more about time-frame analysis here: https://t.co/9S5tXIasun https://t.co/Iqa6geONY6
  • Heads Up:🇨🇳 Industrial Profits (YTD) YoY (AUG) due at 01:30 GMT (15min) Previous: 57.3% https://www.dailyfx.com/economic-calendar#2021-09-27
  • RT @FxWestwater: Australian Dollar Forecast: $AUDUSD Action May Swing on Chinese Industrial Profits Link: https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/asia_am_briefing/2021/09/26/Australian-Dollar-Forecast-AUDUSD-Action-May-Swing-on-Chinese-Industrial-Profits.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Westwater&utm_campaign=twr https://…
  • Central banks often deem it necessary to intervene in the foreign exchange market to protect the value of their national currency. Learn how central bank intervention can impact your trading here: https://t.co/8G8mUX4so6 https://t.co/YTdM3KVtUk
  • The Consumer Price Index, better known by the acronym CPI, is an important economic indicator released on a regular basis by major economies to give a timely glimpse into current growth and inflation levels. Learn how to better understand CPI here: https://t.co/nAa0fHHGbZ https://t.co/Bnih4YvTdg
  • *Reminder: Weekly Strategy Webinar tomorrow morning at 8:30am ET on DailyFX! https://t.co/lxd5fZ5LG7
  • (Weekly Fundy) Crude Oil May Rise as Covid Case Growth Slows. WTI Eyes OPEC Outlook, Evergrande #CrudeOil #WTI #OPEC #Evergrande https://www.dailyfx.com/forex/fundamental/forecast/weekly/title/2021/09/26/Crude-Oil-May-Rise-as-Covid-Case-Growth-Slows-WTI-Eyes-OPEC-Outlook-Evergrande.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/76e2aGf3p0
  • Recessions can devastate the economy and disrupt the fortunes of individuals, businesses, and investors. But economic decline in the business cycle is inevitable, and your trading can be defined by how you respond to crisis. learn how to prepare here: https://t.co/e4Cnoc1dk0 https://t.co/NhsMS1EY4b
  • We are heading into the final trading days for the month of September and event risk thins out amid the $SPX's rebound. This is what history says for the 39th week of the year and here is my take on the variable factors: https://www.dailyfx.com/forex/video/daily_news_report/2021/09/25/SP-500-and-Dollar-Have-Different-Views-for-Last-Week-of-September.html https://t.co/4OBVmrvI7I
Oil Prices Rebound as IEA Talks Down Supply Glut Fears

Oil Prices Rebound as IEA Talks Down Supply Glut Fears

Varun Jaitly,

Talking Points:

  • Oil prices rose by 5% after comments from the Saudi Arabian Oil minister on the Sept. 26 meeting
  • International Energy Agency report suggest oil demand is expected to slow in 2nd half of 2016
  • Saudi Arabia’s Oil Minister expects to discuss price stability measures with Non-OPEC nations

Having trouble trading the Australian Dollar? This may be why.

Crude oil prices rose over 5 percent Thursday following comments from the Saudi Arabian Oil Minister and a report on demand forecasts from the International Energy Agency (IEA). In a statement through the session, Saudi Arabia’s oil Minister Khalid al-Falih said that price stability action would be discussed at an informal meeting in Algeria on September 26-28. The meeting is set to bring together OPEC and Non-OPEC countries to discuss policies, however a number of previous meetings have failed to produce any cooperation or coordination. Check out Currency Strategist Ilya Spivak’s commodity report on the last OPEC meeting.

Oil Prices Rebound as IEA Talks Down Supply Glut Fears

Chart: Trading View

The IEA oil market report for August suggested that global crude supply would actually fall behind demand in the third quarter by nearly a million barrels. Year over year output in June was 215k barrels per day lower than the year prior. This is due to Non-OPEC producers decreasing production as historically low oil prices impact solvency. The IEA forecasts Non-OPEC production to further decrease this year by 0.9 million bpd. Cooling some of the optimism looking forward, the group projected a drop in demand for 2017 on a downgrade growth forecasts.

The IEA report also noted the “robust Middle East oil production” in July, led by Saudi Arabia which recorded its highest output ever. Countries like Iran and Iraq continued to pump more in the month of July as well.

Earlier this week, oil prices fell while the Department of Energy’s weekly petroleum status report showed inventories rose more than analyst expectations. Earlier in the week, Venezuelan President Nicolas Maduro announced he was attempting to promote a supply meeting with OPEC and key non-OPEC producers to buoy global oil prices.

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

DISCLOSURES