Oct 20


  • BY: Donal Kelly
  • October, 20th, 2015 20:10 +00:00

Good evening,

Crude Oil is down for the second consecutive session at 46.09 $/barrel (-0.47%).  The commodity may test soon area 43.81 where buyers on support will try to lift the price. If high inventories data will be released tomorrow and OPEC will maintain the strategy to keep high the supply, Crude Oil will deteriorate its macro framework. OPEC members are in competition, a situation that does not bring optimism, considering also that  Russia needs to finance its deficit and a close to bankruptcy Venezuela is desperate for cash.

Gold is up 4.2$ at 1,177 (+0.36%) and in the FX market low volatility created the setup of only trading range strategies. EurUsd is up 17 pips at 1.1340 (+0.15%) and UsdJpy is up 40 pips at 119.88 (+0.34%). GbpUsd is losing 17 pips at 1.5445 (-0.11%).

US indices closed in negative territory, with the S&P down 2.88 points at 2,030.78 (-0.14%) and Nasdaq Composite at 4,880.97 (-0.50%), down 24.5 points.  Volatility should come back tomorrow with BOC interest rate decision and BOE Carney speech.