The price of oil is continuing to fluctuate around the minimum for the past two months. On Friday the prices were in a $46.15-$47.20 per barrel of Brent range. On Monday morning prices were up slightly from $46.2 to $46.6. Last Friday’s oil report from Baker Hughes showed a rise from 341 to 351 of active drilling rigs in the US last week; this compounded pressure on prices.
However, the Asian stock markets started the week rising rapidly, showing confidence that money won’t be cheap in the world for much longer. The Nikkei 225 rose by 4.5%. The ASX Australia was up 1.7%. The Shanghai Composite increased a modest 0.1%, and the Hang Seng increased by 1.7%. Futures for the S&P500 were trading at 2129; 0.4% above the previous trading day.
In the first half of this year, the labour market situation in China is still stable, with job creation at 7.17 million for the first six months; the figures are similar for the same period last year. According to Xin Changxing, vice minister for human resources and social security, recorded unemployment at the end of June stood at 4.05%; slightly above that of the first quarter (4.04%), but with unemployment in the country on the whole quite low. The Chinese economy is continuing to rise at a moderately high pace, allowing for mass job creation; there are many opportunities appearing for graduates due to growth in innovative industries and entrepreneurship, according to the minister. Xin Changxing noted that around 800k jobs will be lost this year in the coal and steel industries due to excess labour force and that work is currently underway to secure new jobs for these workers.
On Friday some contradictory US labour market data came out. On the one hand, the level of unemployment rose from 4.7% in May to 4.9% in June, whilst it was expected not to rise above 4.8%. On the other hand, and a more important parameter, job creation in the non-farming sector jumped to 287k, whilst the experts expected it to rise by only 175k. The dollar reacted to this data paradoxically: a sharp fall was followed by a sharp rise and the price returned to the levels it previously sat at. For the EUR/USD this meant a fall to 1.1000, then it rocketed up to 1.1120 and closed the week around 1.1050. The pair is trading in a 1.1035-1.1055 range this morning. Today there will be some June US labour market data released and the results of the European Commission convening may well also have an effect on the rate.
Make Yourself at Home on the Forex Market
Alpari Cashback: decide for yourself, what trading terms on the Forex market will work for you! Trade, invest, top up your accounts at Alpari and get bonus points to further enhance your trading and investment terms.Register
Forecasts which are made in the review constitute the personal view of the author. Commentaries made do not constitute trade recommendations or guidance for working on financial markets. Alpari bears no responsibility whatsoever for any possible losses (or other forms of damage), whether direct or indirect, which may occur in case of using material published in the review.
Director of Alpari's analytical department
## ojimadu position
Senior Alpari analyst
We're sorry, an error has occurred. Please try again later.
Notification of this error has been sent to our technical support team.
To be redirected to the European Alpari website, operated by Alpari Europe Ltd.,
a company registered in Malta and regulated by MFSA, click Continue. To remain on this page, click Cancel.
Попробуйте опубликовать пост еще раз либо свяжитесь со службой поддержки социальной сети «ВКонтакте».
У вас есть 24 часа, чтобы получить 50 бонусных баллов за свой репост! Эти баллы вы сможете использовать для улучшения торговых и инвестиционных условий в Альпари, а также уменьшения комиссий за денежные переводы.
Просто авторизуйтесь в своем Личном кабинете или зарегистрируйтесь,
если у вас его еще нет.
Обратите внимание, что для получения баллов нужно разрешить доступ к своей странице ВКонтакте сайту alpari.com/ru/.
Для этого на странице «Мои настройки» во вкладке «Приватность» в разделе «Прочее» вашего аккаунта ВКонтакте в пункте «Кому в интернете видна моя страница» выберите «Всем».
Field filled incorrectly.
This field is required.
This field is required.
Incorrect login or password.