OctaFX | OctaFX Forex Broker
Open trading account

OPEC members convene in Vienna next Thursday (30 November) - Nomura

Analysts at Nomura noted that OPEC members convene in Vienna next Thursday (30 November) for their 173rd Ordinary meeting. 

Key Quotes:

"Markets look to be anticipating an agreement between the parties to extend the oil production cap past Q1 2018. 

Signals and communications from various officials suggest the production cuts could be extended by about nine months, though the decision could be delayed until after the November meeting. 

Russia continues to show little urgency to make a decision until closer to March when the current cuts are due to expire. 

With an extension now looking well priced and net-long positioning at elevated levels, the reaction to the November meeting looks asymmetric, with risks tilted towards the market being disappointed."

EUR/JPY: the market failed at 134.58 topside in Nov, deeper to 128.50 now?

EUR/JPY has been recovering back 10 pips in very recent trade in a quiet Thanksgiving holiday market. Currently, EUR/JPY is trading at 131.78, up 0.27
Read more Previous

UK and EU look to reach an agreement on Brexit in early December - FT

According to a recent article published in The Financial Times, both the EU and the UK Brexit negotiators are aiming to strike a deal in the week of D
Read more Next
Start livechat