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Iran oil minister Zanganeh said today that talks have begun about further cuts.
It comes less than a month after OPEC's one-year cut extension announced May There has been a wave of jawboning in the past 12 hours but oil has barely bounced from the lows. API inventory data was mixed as gasoline and distillate stockpiles grow.
The official numbers are due at GMT. The side-effect of the price drop is that it weakens the cartel internally. The low prices will put pressure on government budgets and that incentivizes cheating. Reverses above and gets kick higher from Haldane comments The GBPUSD fell sharply yesterday on the back of comments from BOE Carney and some technical breaks. The price moved to the lowest levels since "snap election day" and also fell below the day MA see daily chart below.
The battleground at the moment is likely December. My sense is that the bar is low. The Fed obviously thinks the latest stumble in growth is an aberration but that doesn't mean they need the pendulum to swing in the other direction in order to hike. He's now the heir to the throne of his year-old father. At just years-old himself it puts him in-line to rule the kingdom for many decades.
The GBP is the strongest. The AUD is the weakest.
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As North American traders enter for the day, the GBP is the strongest, while the AUD is the weakest. The GBP switches positions on the strong and weak table from being the weakest yesterday on the back of Carney's speech, to the strongest today on.
UK PM May's spokesman with a follow up statement to the Queen's Speech - thinks parliament will get behind the Queens Speech - not deaf to people's weariness over austerity This just in from DUP:. US MBA mortgage data for w-e 16 June - applications 0. Posting now for info.
BOE's chief economist Haldane out with his scheduled speech 21 June - considered a rate hike last week - Brexit risk not gone but UK growth solid - saw grounds for holding off rate hike til later in the year Hawkish talk from former dove sees pound rally strongly but sellers poised in the rallies too. UK Queen's Speech now underway 21 June - will bring in new rules on trade, customs to help implement an independent trade policy - will boost economy to generate tax revenues Watch it live.
GBP finding a few buyers after early losses 21 June Perhaps a bit of justifiable caution we wait to hear what PM May and her minority government have to offer in the Queen's Speech due to start at Kremlin spokesman out with a statement 21 June - still not ruled out a meeting between Trump and Putin at G20 in July - nothing concrete has so far been agreed Gee, such an amount of public discontent to cover up the real love!
Greek PM Tsipras out on the wires 21 June - downtrend in yields will help return to bond markets - Greece will soon have chance to tap these markets - Greece must take advantage of positive momentum Not just down to him though is it. Latest BOE Agents' Summary of Business Conditions now published 21 June - Moderate underlying growth in activity had continued overall.
Annual sales growth in volume terms had continued to slow. Export volume growth had continued to increase, supported by the lower sterling exchange rate and stronger world growth. UK public sector borrowing data now released 21 June - GBP 8.
ECB Monthly Bulletin now published 21 June - risks diminished but tilted to downside - Chinese vulnerability over medium term remain elevated On the QE programme:. Decent bids at 1.
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OPEC is in full panic-mode as leaders start talking about more cuts. Wed 21 Jun View Full Article with Comments. GBPUSD can't stay below day MA Reverses above and gets kick higher from Haldane comments The GBPUSD fell sharply yesterday on the back of comments from BOE Carney and some technical breaks.
Will Muhammad bin Nayef go quietly in the Saudi game of thrones?
SPDR S&P (SPY) Real-Time Stock Quote - irexapezoren.web.fc2.com
The strongest and weakest currencies as NA traders enter for the day The GBP is the strongest. UK government absolutely committed to immigration target UK PM May's spokesman with a follow up statement to the Queen's Speech - thinks parliament will get behind the Queens Speech - not deaf to people's weariness over austerity This just in from DUP: US MBA mortgage applications fell last week US MBA mortgage data for w-e 16 June - applications 0.
ForexLive European morning wrap: BOE's Haldane says risk of tightening too early has fallen BOE's chief economist Haldane out with his scheduled speech 21 June - considered a rate hike last week - Brexit risk not gone but UK growth solid - saw grounds for holding off rate hike til later in the year Hawkish talk from former dove sees pound rally strongly but sellers poised in the rallies too. Government's priority is to secure best possible Brexit deal UK Queen's Speech now underway 21 June - will bring in new rules on trade, customs to help implement an independent trade policy - will boost economy to generate tax revenues Watch it live View More.
Pound recovers a few session losses as we wait on Queen's Speech GBP finding a few buyers after early losses 21 June Perhaps a bit of justifiable caution we wait to hear what PM May and her minority government have to offer in the Queen's Speech due to start at Russia considering retaliatory measures on US following latest sanctions Kremlin spokesman out with a statement 21 June - still not ruled out a meeting between Trump and Putin at G20 in July - nothing concrete has so far been agreed Gee, such an amount of public discontent to cover up the real love!
Tsipras expects downtrend in Greek government bond yields to continue Greek PM Tsipras out on the wires 21 June - downtrend in yields will help return to bond markets - Greece will soon have chance to tap these markets - Greece must take advantage of positive momentum Not just down to him though is it.
BOE agents report says moderate underlying UK growth has continued Latest BOE Agents' Summary of Business Conditions now published 21 June - Moderate underlying growth in activity had continued overall. UK May PSNBR GBP bln 6. ECB says global growth risks remain tilted to the downside ECB Monthly Bulletin now published 21 June - risks diminished but tilted to downside - Chinese vulnerability over medium term remain elevated On the QE programme: AUDUSD orders 21 June - In retreat but demand nearby Currently 0.
EURGBP orders 21 June - On the rise again Currently 0. EURUSD orders 21 June - Option expiries containing price action Currently 1. GBPUSD orders 21 June - Still under pressure Currently 1. Learn About ForexLive Contact Us. Stay Connected Connect with forexlive via: Premier forex trading news site Founded in , ForexLive.