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Forex market reviews

27 October 2016

Market sessions

Gabriel Ojimadu

Expected fall for EUR/USD

On Wednesday as part of a correctional movement, the euro/dollar rose to 1.0947. The pair then dropped from this maximum after US stats came out. The values for the business activity index in the service sector and primary market housing sales in the US exceeded expectations. By trade close in New York, the euro had fallen to 1.0900 and to 1.0892 on Thursday in Asia.
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26 October 2016

Commodities

Natalia Milchakova

Price of crude unlikely to rise above $53/bbl

Last week the price of WTI rose 1.7% and reached $50.88/bbl. The expiration date for the futures’ price was October, 24. On October, 19, the price reached its new quarterly high of $51.54/bbl. We forecast that the price is unlikely to fall below the level of $50/bbl unless OPEC’s members again fail to agree at their meeting on November, 30.
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Market sessions

Gabriel Ojimadu

EUR/USD price stumbling around 1.0850

On Tuesday the euro/dollar was reaching for the support at 1.0850. The sharp price bounce could only have been facilitated by US stats and Carney and Draghi speaking. The Conference Board consumer confidence index for October didn’t meet expectations: dropping to 98.6. The euro restored from 1.0851 to 1.0905.
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Alexander Razuvaev
Alexander Razuvaev

Director of Alpari's analytical department

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Vadim Iossub
Vadim Iossub

Senior Alpari analyst

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