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Business / Finance

Overview: oil and the Euro bounce up

Forex Club 24.05.2019 at 13:06

The Price of oil (July futures on Brent) on Friday, may 24 to 15.49 GMT increased relative to the level of the previous closing 1.4% up to 68,72 dollars per barrel.

the Market of "black gold" adjusted upwards after yesterday's failure by 4.5%. The market has failed in the area of the lows from the end of March – about $ 67 mark Brent. Impetus to long-overdue downward correction came from the data about unexpected growth of stocks of oil in America last week.

Today support the correction of oil up comes from the risk of reduction of its deliveries to the world market. This is due to the confrontation between the US and Iran, and U.S. sanctions against Venezuela and Iran.

meanwhile, the fall of the oil market in the previous days allowed the trader Forex Club earn per day, more than 12 thousand dollars on short positions in futures on the mark Brent.

However, one of the three market leaders, Fitch ratings, said that "OPEC+ offset reduced oil production in Iran due to tighter us sanctions. This can be done by increasing total production OPEC+, and due to its increase in existing quotas, or redistribution of quotas between countries, experts say Fitch.

the Euro against the dollar is adjusted upward, in the direction of mark 1,12. The dollar came under pressure from fears that U.S.-China trade war will lower business activity in the United States.

the slowdown of new home sales in America in April added to concerns on this score.

In summary, 15.49 GMT the Euro had risen since the start of trading on the last fixing in the range of 0.1% to 1,1192 dollar.

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

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