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Thursday, 22 June 03:57 (GMT -05:00)



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Economic Calendar by Dukascopy 27.01.2017


The news release schedule may be short on Friday, the 27th of January, but it does bring some very important publications.
The closely watched preliminary US fourth quarter GDP is out at 1:30 PM GMT. The third quarter data surprised on the upside as strong soybean exports made a significant contribution to the bottom line.
Another high importance release, US Preliminary Durable Goods Orders for December, come at the same time. Orders slipped in November as plane orders went down, but the core reading did go up in light of higher business equipment sales.
And the final reading of University of Michigan Consumer Confidence for January will be available at 3. The preliminary estimate puts the Index just a fraction lower than the 12-month high it reached in December, suggesting that US consumers maintain their post-election optimism.
I'm Kiays Khalil and this was the Economic Calendar for Friday. Check back in for the next overview of news releases for Monday.

 

 

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Trading Week Starts with Oil Price Drop

On Monday, June 19, crude oil is getting cheaper worldwide. Experts say that the price drop has to do with the recent report on the amount of oil rigs in the United States. In particular, the report says that the amount of such rigs has grown over the last week.
 

 

Baker Hughes reported on June 16 that 6 new rigs had been activated over the reporting period, thereby setting a new major high – 767 units, which is the biggest amount of functioning oil rigs since April 2015. By the way, the amount of oil rigs has been continuously growing over the last 22 weeks, which is also the new 30-year record.
Publication date: 19 June 02:27 AM

Brent Drops Below $48/b Amid Qatar’s Paradox

The Qatar crisis failed to push oil prices higher as expected by those who had previously extended the so-called Vienna Accord. Yesterday, on June 7, the global market of crude oil got feverish. The reasons for that was all about the tensions around Qatar, which is an oil exporter from the Persian Gulf.
 
Publication date: 08 June 01:17 AM

Russia Wants Expensive Oil. Is It Really That Beneficial for the Russian Economy?

As you probably know, both Russia and Saudi Arabia are interested in lower oil supply in the global market since the deficit is expected to push oil prices higher, thereby resulting in bigger profits from their oil exports further down the road. That is why they seem to be doing their best to contribute to this ambitious goal.

Publication date: 06 June 11:06 AM

Russian Oil Production to Hit New All-Time High This Year, ACRA Experts Say

According to the experts working for Analytical Credit Rating Agency (ACRA) from Russia, the long-awaited extension of the so-called Vienna Accord signed by OPEC and some of their non-OPEC peers led by Russia may eventually result in higher oil prices along with eliminating the long-lasting oversupply in the global market of crude oil. This is what the experts stated in the recent report on the prospects of the Russian oil industry until 2021.
 
Publication date: 05 June 01:07 PM

Oil Prices Don’t Care About OPEC’s Decisions

As you probably know, last Thursday, OPEC and their non-OPEC fellow decided to extend the so-called Vienna Accord during the recent summit in the capital of Austria. The mentioned agreement implies cutting oil production in order to back higher oil prices in the near future. The agreement was extended for 9 months – until the end of March 2018.

 

 
Publication date: 01 June 04:09 AM

Russian Economy Will Face Challenges After 2018

It’s getting more and more obvious that crude oil is not going to grow as expected, which is why the hopes laid by the Kremlin on higher oil prices and higher income from oil exports are probably not going to become a reality. Most likely, this is not going to happen over the next couple of years as well. Despite extending the Vienna Accord during the recent OPEC summit, the participants of the summit still cannot see the expected results as oil prices still haven’t shown any considerable rally, thereby indicating no significant progress.

Publication date: 28 May 11:46 PM

IMF Demands Land Reform From Ukraine

Pension and land reforms are the two questions on the agenda, without resolving which the Ukrainian government can forget about further loans from the International Monetary Funds.

Publication date: 28 May 11:30 PM

Standard & Poor’s Confirms Ukraine’s Rating

International rating agency Standard & Poor’s (S&P) has confirmed the long-term rating of Ukraine, both for national and foreign currencies. The rating is confirmed at «В-/В», with stable forecast for both national and foreign currencies.
 
S&P analysts underline that confirming the ratings reflects the progress achieved in the macroeconomic situation in Ukraine. The Ukrainian GDP is expected to grow by 1,9% this year.
 
Publication date: 28 May 11:08 AM

OPEC Extends Vienna Accord

The OPEC and their non-OPEC fellows are reported to have extended the so-called Vienna Accord today during the OPEC summit in the capital of Austria. The agreement designed to cut the participants’ oil production is expected to reduce the oversupply of crude oil in the global market in order to back higher oil prices. The agreement is extended for 9 months.
 
Publication date: 25 May 09:45 AM

Russia and Saudi Arabia Share Standpoint on Oil Prices

It’s not a secret that Russia and Saudi Arabia have the opposite standpoints on most of the issues on the geopolitical agenda, including the war in Syria and relations with Iran and the United States. The only thing they actually share is the necessity to back higher oil prices as soon as possible, Masterforex-V Academy experts say. Well, there is nothing to be surprised about when it comes to oil prices since both are the world’s major oil producers and exporters.

 

 
Publication date: 22 May 01:36 AM