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Overview: oil has slowed down in growth on the API data, the Euro also stable

Forex Club 15.05.2019 at 14:53

The Price of oil (July futures on Brent) on Wednesday 15 may to 17.24 MSCS were decreased relative to the levels of the previous closing in the range of 0.1% to 71.19 per barrel.

the Market of "black gold" slowed growth of around 71 per barrel for Brent. The pressure data from the American petroleum Institute (API) on the dynamics of fuel reserves in the United States and the lowering of the forecast of the International energy Agency (IEA) estimates of the demand for "black gold" for the current year.

So, the API estimated that crude oil reserves in the USA last week grew by 8.6 million barrels after rising by 2.8 million a week earlier.

In this case, the IEA lowered to 90 thousand barrels per day growth in oil demand in the world in 2019 - up to 1.3 million barrels per day. Now he is expected to 100.4 million barrels per day.

In General, oil prices steadily back above a round mark of 70 dollars . This trend is one of the Forex traders Club earned per day is about 31 thousands of dollars by trading in gold futures on the mark Brent.

meanwhile, the OPEC agreement regarding the reduction of oil production remains the main factor that deserves the attention of players of the oil market. The IEA estimated that the OPEC countries in April fulfilled by 131% agreement to reduce oil production OPEC+. Exceeding in the main provided Saudi Arabia. Countries outside OPEC, in April performed at 151% agreement to reduce oil production OPEC+, although Russia in this group has lagged behind, performing the obligations by 80%, estimated by the IEA.

the Euro against the dollar does not change, remaining at around the 1.12 zone. A neutral background is supported by macroeconomic data. Germany's GDP in the first quarter increased 0.4% compared to the fourth quarter of 2018, and 0.6% per annum. Experts expect, therefore, increase by 0.4% and 0.7%.

Eurozone GDP in the first quarter increased by 0.4% QoQ and 1.2% per annum, which completely coincided with expectations of experts.

To 17.23 Moscow time the Euro exchange rate increased from the start of trading on the last fixing within 0.1% and amounted to 1,1217 dollar.

Market, USA, dollar, oil, ruble, Forex club

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