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Forex market reviews

03 July 2015

Commodities

Anna Bodrova

Oil Quotes Down Under Pressure from US Data on Extraction Rigs

Yesterday evening Baker Hughes published some data on the amount of extraction rigs in the USA. The indicator rose by 3 (0.34%) to 862. 640 of these rigs are directly used for the extraction of oil. This news put pressure on the quotes.
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Market sessions

Vladislav Antonov

Pound Trading in Narrow Range

On Thursday after the NFP, the pound/dollar closed practically unchanged in comparison to Wednesday’s close. The range of the hourly candle during the payrolls was 78 points.
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02 July 2015

Market sessions

Alexander Razuvaev

S&P: Grexit Will Cost Country 20% of its GDP

S&P expects a sharp drop in Greek GDP if the country leaves the Eurozone with GDP to fall by 20% over the course of four years. Greek banks and the payment system will not be able to function without the financial support of the ECB. The national currency, to which Greece will have to switch back to, will lose a lot of value against the euro, leading to an explosion Greek debt denominated in euros.
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Commodities

Anna Bodrova

Throughout the Day Brent Could Rise to $62.7

Throughout the trading day, Brent could reach $62.7 per barrel or drop down. WTI is looking to trade in the region of $57.10-58.10 per barrel.
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Market sessions

Vladislav Antonov

Pound Stabilizes Around 1.56

The pound cheapened to the 135th degree against the USD. Pressure on the pound came from weak PMI data from the UK and decent indicators on the US.
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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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