The European currency remains under pressure of budget debate in Italy, as well as quite a strong US currency, which, apparently, is not going to give up its leadership. To date, the EURUSD is trading below 1.15, while continuing to develop a downward trend. Market participants act out a failed report on industrial production in Germany, published the day before. It is learned that manufacturing activity declined for the third month in a row, indicating a possible weakening of GDP growth in Europe's largest economy.
Data of the Ministry of Economy of Germany showed that industrial production fell by 0.3% in August, while analysts polled expect growth of 0.4%. It should be noted that the lead locomotive of the currency bloc, left without the support of industrial growth in the third quarter is unlikely to qualify for an extension of more than 0.3%. Against the euro, it is active and increase the yield of US Treasury bonds. In this coming Thursday, there are data on the US consumer price index. In the case of rising inflationary pressures, the yield on 10-year Treasuries, reflecting expectations of further tightening of US monetary policy, may exceed 3.25%. With such a dynamic European currency will not be easy.
SellStop the TP 1.1450 the EURUSD 1.13 SL 1.1490
Brent crude oil futures opened the trading session on Monday with a small gepom down, the reason for which was information that Trump administration softened tough stance on the export of crude oil from Iran. Daily low was $ 82.66, which is significantly below the local Haya in the neighborhood of $ 87 reached last week. Nevertheless, despite the bad start of the day to the end of the trading session the initiative again passed to the buyer. Market participants have been actively to buy oil after reports of an explosion on a key oil refinery in Canada. Supported the sentiments and production disruptions in the Gulf of Mexico caused by the hurricane. Hurricane "Michael" will pass through the eastern part of the Gulf today and through the interior of the State of Florida on Wednesday. With regard to mitigating the anti-Iranian US position, it is expressed in intent Trump not to impose sanctions against those countries which, because of contractual obligations will continue to buy Iranian oil after November 4th. In particular, India in November, plans to buy 9 million. Barrels of oil from Iran, which is equivalent to 300 th. Barrels per day. In the case of purchases of Iranian oil will not give up the European Union, Japan, South Korea and China, fears of a lack of supply in the global market will lose its relevance. In such a scenario, the oil is expected to return to the downward trend. South Korea and China, fears of a lack of supply in the global market will lose its relevance. In such a scenario, the oil is expected to return to the downward trend. South Korea and China, fears of a lack of supply in the global market will lose its relevance. In such a scenario, the oil is expected to return to the downward trend.
UKOIL SellStop 83,50 TP 75,00 SL 84,50
Analytical reviews and comments reflect the personal opinion of the authors and are not a recommendation to trade. Author trader analyst Artem Deev company AMarkets.