Oil prices dip on swelling U.S. supply; OPEC output cuts loom

Oil prices slipped on Friday after the United States reported a 10th straight weekly gain in commercial crude reserves amid record output. U.S. commercial crude oil inventories C-STK-T-EIA rose by 3.6 million barrels in the week to Nov. 23 to 450.49 million barrels, the Energy Information Administration (EIA) said this week. Production C-OUT-T-EIA remained at a record 11.7 million barrels per day (bpd). Read More @ https://www.reuters.com/article/us-global-oil/oil-prices-dip-on-swelling-u-s-supply-opec-output-cuts-loom-idUSKCN1NZ01P?feedType=RSS&feedName=businessNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FbusinessNews+%28Business+News%29

Fed minutes: Further hike ‘warranted soon,’ debate opened on pause

Almost all Federal Reserve officials at their last meeting agreed another interest rate increase was “likely to be warranted fairly soon,” but also opened debate on when to pause further hikes and how to relay those plans to the public.

Minutes of the November meeting show policymakers ticking off a series of issues, including a tightening of financial conditions, global risks, “and some signs of slowing in interest-sensitive sectors,” that had begun weighing on their view of the economy.

An expected December rate increase was further cemented into place. But Fed officials also indicated a potential shift in tone about the future. https://www.reuters.com/article/us-usa-fed-minutes/fed-minutes-further-hike-warranted-soon-debate-opened-on-pause-idUSKCN1NY2I9?feedType=RSS&feedName=businessNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FbusinessNews+%28Business+News%29

WHAT IS THE USD TECHNICAL CHART SAYING?

USD is back to the Trend-Line and it will be challenged today – the FED might change its course for a pause to rate hike. What next for the USD remains unknown.

TODAYS NEWS THAT MIGHT AFFECT YOUR TECHNICAL TRADES.

  1. 9.00am – China will release Manufacturing and non-manufacturing data – expected to be no change or weak.
  2. 1.00pm – Japan will release their Consumer confidence data – expected to be good.
  3. 3.00pm – Germany will release their Import Prices and retails sales data – expected no change.
  4. 3.45pm – France will release their CPI – volatility is expected.
  5. 6.00pm – EURO will reales their CPI data – volatility expected.
  6. 9.30pm – CAD pairs will focus – Canada will release their GDP data – expected no change. If there are changes – volatility is expected.
  7. 11.00pm- FOMC member speaks – should be volatile as the RATE HIKE will be discussed.

The market will be cautious as G20 meeting this weekend. Be cautious as you can expect gaps early Monday morning when the market opens.

High Risk Investment Warning:

Please note that Forex and other leveraged trading involves significant risk of loss, It is not suitable for all traders and you should make sure you understand the risks involved, it is recommended that you seek an independent advice, if necessary.

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