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Forex market reviews

05 August 2016

Media reviews

Fiona Chen

U.S. Trade Gap Widened in June Due to Import Surge (news: 05/08/16)

The trade gap grew 8.7% from a month earlier to a seasonally adjusted $44.5 billion, the widest in 10 months, the Commerce Department said Friday. Imports increased 1.9% while exports rose 0.3%.
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Market sessions

Vadim Josub

China pushes to develop petrochemical industry

China must update old and ineffective production capacity, optimise its industry structure and lessen pollution to increase its competitiveness in petrochemical industries. This is according to a directive from the Chinese state council.
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04 August 2016

Commodities

Natalia Milchakova

Downtrend on the crude market still continuing

Last week the downtrend on the crude oil market was continuing. The prices of WTI futures dropped 5% to $39.69/bbl. On July, 21, the price of WTI was remaining at its weekly high, but in early August it dropped to its weekly bottom of $41.91. The price is fluctuating near its important support level of $40/bbl; however, if the price breaks this level, it would go down to $35/bbl.
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Market sessions

Vadim Josub

Markets await BoE interest rate drop

Stats from the EIA on Wednesday showed a 1.413 million barrel rise in US oil reserves. They were expected to fall by 1.833 million barrels. However, this had no effect on oil’s rebound due to sellers fixing profits. Yesterday Brent rose from $41.6 per barrel to $43.4. This morning has seen the benchmark trading in a $43.3-43.6 range.
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Alexander Razuvaev
Alexander Razuvaev

Director of Alpari's analytical department

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