Forecast for Crude Oil and world economy in 2008
There is not analogy in the history with the price of the oil. Is the world in such a crisis for oil? The chart of the Crude Oil is solid into upward direction in geometry progress. If we are using the strong raise of the oil prices and the weak dollar the levels of $100 are not just realistic, these levels are low. The long-term forecast for 2008 seems that the crude oil will be trading above $100. In World-Signals.com making a forecast for oil prices in 2008 between $140 and $180 for barrel.
EUR/USD, GBP/USD Closer Than Ever To New Highs, Ahead Of FOMC?
Another day, another wave of selling in all dollar related pairs, with both EUR/USD and GBP/USD being trading high and latter touching Julys highs at 2.0655. Yesterday we didn?t have any news in the economic calendar, therefore the lack of data, in combination with return of risky carry trades; saw big moves in all yen related pairs and sterling. With tomorrow
Market Drum Highlights
TACTICAL Points are for October Performance of Signals only, year to date >80% EUR/USD 1.4410 -79 pts Long 2 units 1.4279, Profit stop loss 1.4331 Long 2 units 1.4309, Profit stop loss 1.4351 Long 2 units 1.4359, Profit stop loss 1.4371 Buy 2 units on stop 1.4449, stop loss 1.4401 Sell 2 units on stop 1.4181, stop loss 1.4219 GBP/USD 2.0540 -457 pts Long 2 units 2.0539, stop loss 2.0471 Long 2 units 2.0559, stopped 2.0511 Buy 2 units on stop 2.0579, stop loss 2.0521 USD/YEN 114.10 +326 pts
The U.S. dollar tumbled to a new all time low against the Euro
The U.S. dollar tumbled to a new all time low against the Euro and remained under pressure across the board as the market focused on weak data out of the U.S. Releasing this morning was the University of Michigan consumer confidence survey which fell to 80.9 in October, from 83.4 in September, below expectations of a decline to 82. The market will start to focus on the Federal Reserve?s meeting next Wednesday where some analysts are calling for a 50 basis point cut, bringing rates all the way
Time for a dollar positive correction?
The EUR/USD pair set new records yesterday morning, as the pair reached the 1.4430 zone in Asian trading. There wasn?t any fresh news to guide this move; it was more a continuation of bearish dollar sentiment. Throughout the day this new record could not be matched again. The market entered a bit of a questioning phase , thinking about what the Fed could do on Wednesday. The Fed rate cut of 25 basis points was already well incorporated and last week even some speculated on a 50 basis points
Fed interest rate decision and Non-Farm Payrolls
Keep your eyes open for the Fed interest rate decision and the big Non-Farm Payrolls Week Ahead Oct 29 to Nov 2 After G7 on Oct 22nd, we saw turmoil in the markets. EUR/USD crashed down 200 pips. Meanwhile , the US data did not give a hand to the USD. The USD is edging down again. Today ( 8 GMT Oct 26th ), the pair hit a reacord high at 1.4377. Will coming economic events during the Week (Oct 29th to Nov 2nd ) add further attack on the USD? What practical view will the Fed show us, cut the
FED And Payrolls Will Determine Dollar’s Future?
Another week, another new low for the dollar, with EUR/USD well above 1.44 at Monday open. As the pair keeps trading above 1.44, there is a lot of speculation about how high will it reach before some kind of correction occurs? Last week, although we didn?t have much economic news in the calendar, nevertheless the ones we had were really bad for the greenback, with housing numbers printing yearly lows. Market players did sell
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