While
Saudi Arabia and Russia have proposed to ease supply curbs, other members
including Iran, Iraq, Algeria and Venezuela are against such a move. With Iran
already storming out of preparatory discussions yesterday, investors should
fasten their seat belts in preparation for potential fireworks today. If Iran
continues to reject the deal to raise output and gathers support from other
cartel members, talks are at risk of ending in an impasse. Such an undesirable
outcome is likely to create uncertainty and will spark fears over the future of
OPEC’s 18-month agreement with Russia to limit production. A market-friendly
outcome could be a scenario where Iran makes a last-minute U-turn to cooperate,
consequently allowing Saudi Arabia and Russia to move forward with a gradual
production increase.
Will
OPEC manage to agree on a production increase? This remains a recurrent
question on the minds of most investors. Whatever the outcome of the OPEC
meeting in Vienna, it will most likely leave a lasting impact on Oil prices. http://www.tectono-business.com/2016/02/contemporary-step-by-step-guide-to.html
Currency
spotlight – Dollar
The
Dollar has extended losses against a basket of major currencies today, easing
from an 11-month peak as investors engaged in a bout of profit taking. There is
a suspicion that the disappointing Philly Fed manufacturing index, which fell
to a 19-month low, also played a role in the Dollar decline with prices trading
marginally below 94.50 at the time of writing. While the Dollar has scope to
venture lower in the short term as bears exploit the weaker economic data to
drag prices lower, losses may be limited by US rate hike expectations.
Moving
the focus away from the fundamentals, the technical picture remains heavily
bullish on the daily charts despite the recent declines. A technical correction
could be in play with the next key level of interest on the Dollar Index around
the 94.00 region. If bulls are able to defend 94.00, then the Dollar Index has
scope to rebound back towards 95.00 and 95.35, respectively. http://www.tectono-business.com/2016/02/contemporary-step-by-step-guide-to.html
Commodity
spotlight – Gold
Gold
is poised to conclude this trading week negatively, as a broadly stronger
Dollar and the prospect of higher US interest rates continue to erode appetite
for the precious metal.
Although
prices have attempted to rebound higher today, this has less to do with a
change of sentiment towards Gold and more to do with Dollar weakness amid
profit taking. While the safe-haven asset could receive some support as
uncertainty mounts ahead of the OPEC meeting this afternoon, gains could be
capped below $1280 resistance level. With the fundamental drivers behind Gold's
depreciation still in place, further weakness could be seen in the medium to
longer term.
Have you heard this? Many
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of exporting commodities to foreign countries. Do you know why? They were not
trained on export operations, management, documentations and the best methods
of payment in export trade. This is terrible!!! Nigerians cannot continue to
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you get a practical manual that teaches the stages of export trade from
processing and packaging of commodities to receipt of payment by the foreign
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and methods of payment in export trade? It is a contemporary step-by-step guide
to export trade. It tells all the contemporary dynamics in export trade. To get
it, click on the link below:
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