Crude Oil Price Forecast


While the portion of the economy a country’s housing sector contributes to may vary, it is usually pretty high. Hence, as a Forex trader, you should keep an eye on vital statistics about a country’s housing market when you are trading that currency. OPEC countries consist of 15 or so major crude oil-producing nationslike Saudi Arabia, Kuwait, Iran, etc.

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By Gertrude Chavez-Dreyfuss NEW YORK – The dollar dropped to a three-week low in choppy trading on Friday, as investor concerns about recession outweighed inflation… By Ambar Warrick — Most Asian currencies fell on Monday after data showed a slowdown in Chinese factory activity, while the Japanese yen extended its sharp recovery… By Peter Nurse – The U.S. dollar edged higher Tuesday, helped by raised geopolitical tensions, but still dropped to a two-month low against the Japanese yen as the… Leaderboard excludes Explorers that are set to private, have equity less than 100, are traded by a commercial member, or are connected to a brokerage account opened after the leaderboard period began. Beijing reported a local case for July 31 after six days of zero infections. Shenzhen, a major tech hub, reported a case as well, although it was in a quarantined area. While cases remain low, health experts are growing increasingly skeptical that China can maintain strict restrictions to stop the spread of the highly-transmissible variants, such as BA.5.

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After you have done this, you can click on the “News” tab to view a list of recent events. You’ll notice a large number of events, including news releases. While you’re in this menu, you’ll want to focus on the news events to get the most out of it. If you’d like to set the time zone, you can also adjust it here. This will make it easier for you to view the news in your local timezone. House prices from the UK and unemployment from Spain are the major statistical reports due on Tuesday. At 2.00 am ET, the UK Nationwide house price data is due.

Weekly Currency Forecast

For example, the German Flash Manufacturing PMI will always have more impact on the Euro compared to the French Flash Manufacturing PMI. A calendar is extremely helpful for currency traders. It allows you to keep track of important news events and find better placements for trades based on them. It also displays news events in the time zone of your choice.

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Fusion Mediawould like to remind you that the data contained in this website is not necessarily real-time nor accurate. Currently, OPEC countries control around 44 percent of the world’s crude oil output and their decision to increase or decrease crude oil production can have a major impact on the world’s energy market. There is a strong correlation between the currency market and oil price because of how resources are distributed. Hence, it can affect the balance of trade of a currency, and influence market psychology.

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