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Forex market reviews

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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25 October 2016

Market sessions

Gabriel Ojimadu

EUR/USD technically ready for drop

On Monday 24th October, the euro/dollar closed close to its opening level. During European trades the euro gained against the USD to 1.0900. It missed out on reaching the calculated level by 11 points. The rate returned to 1.0870.
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Alexander Razuvaev
Alexander Razuvaev

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