Dutch Inflation Remain Stable In December

Trading 08 jan 2019 Commentaire »

Dutch consumer price inflation held steady in December, figures from the Central Bureau of Statistics showed on Tuesday.

The consumer price index climbed 2.0 percent year-over-year in December, the same rate of increase as in November.

Cheaper airline tickets and car fuels damped inflation in December, the agency said.

Inflation, based on the harmonized index of consumer prices, or HICP, rose to 1.9 percent in December from 1.8 percent in the previous month.

The average CPI inflation in 2018 rose to 1.7 percent from 1.4 percent in 2017. Inflation was the highest since 2013.

Average HICP inflation accelerated to 1.6 percent, which is highest reading since 2013, from 1.3 percent in 2017.


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Eurozone Economic Sentiment At 2-year Low

Trading 08 jan 2019 Commentaire »

Eurozone's economic sentiment decreased more-than-expected in December to its lowest level since the start of 2017, extending further evidence of a broad-based slowdown in the single currency economy.

The economic sentiment index dropped to 107.3 from 109.5 in November, survey data from the European Commission showed on Tuesday. Economists had predicted a score of 108.2.

The latest reading was the lowest since January 2017, when it was at the same level. Eurozone economic sentiment has weakened steadily since December 2017.

The survey also showed that consumer confidence fell to -6.2 in December, confirming the flash estimate, from -3.9 in November. The reading was the weakest since February 2017, when it was -6.4.

The measure reflecting industrial confidence eased to 1.1, which was the lowest reading since January 2017. Economists had expected a modest easing to 3 from November's 3.4.

The confidence index for services fell to 12, it's lowest since November 2016. The measure for the construction sector dropped to a four-month low of 7.2. Meanwhile, the confidence index for the retail trade improved to 0 from -0.5.

The business climate index dropped to 0.82 from 1.04 in November. The score was the lowest since May 2017.

"Overall, the ongoing fall in business confidences suggests that the euro-zone entered 2019 with very weak momentum and points to annual GDP growth of only around 1% or so at the start of the year," Capital Economics economist Andrew Kenningham said.

Other indicators are also suggesting a broad slowdown in the euro area economy and underlying inflation remains low, damping expectations for an interest rate hike from the European Central Bank in the near term.

Private sector growth slowed to its weakest level in four years in December, the latest purchasing managers' survey showed.

Investor confidence in the euro area deteriorated for a fifth straight month in January to its lowest level in over four years, survey data from the behavioral research institute Sentix showed on Monday.


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Amazon has become the most expensive company in the world.

Trading 08 jan 2019 Commentaire »

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The American company Amazon, the world's largest online platform for the sale of consumer goods and services, topped the ranking of the most expensive companies in the world at the beginning of the year, beating Microsoft at a price.

On January 7, 2019, Amazon's market capitalization exceeded $ 796 billion. Microsoft ranked second ($ 789 billion) in value by value. Closes the top three holding Alphabet, which includes Google ($ 745 billion).

Earlier in the third place in terms of market capitalization was the manufacturer of the iPhone. Apple's cost was $ 702 billion, but after news of low sales of the iPhone appeared, the technology giant's capitalization fell to $ 694 billion.

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What will Riyadh do for $ 80?

Trading 08 jan 2019 Commentaire »

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According to official sources in OPEC, Saudi Arabia's new budget has been drawn up at the rate of $ 95 per barrel of oil. However, the Saudi authorities will be happy and $ 80 - $ 85, in this case, no longer have to use financial reserves.

To cover the estimated costs, the Saudis intend to cut crude oil exports by 800 thousand barrels per day from November levels. In December 2018, the kingdom sold about 7.3 million barrels per day outside its state, compared with 7.9 million recorded in November and 7.7 million in October.

The hardest hit exports to America. This plan goes beyond the commitments under the OPEC + agreements reached a month ago. Then the Saudis agreed to reduce production by 2.5% from October marks, starting in January, then the bar was raised to 3%. At the same time, the planned reduction in supply (an important component of the proposal affecting the global oil markets) as a whole will lead to a drop in the export figure by 7.8%.

Representatives of the cartel realistically assess the situation and recognize that new attempts to revive the black gold market are unlikely to bring the desired results in the short term. However, they allow the restoration of quotations to $ 80 in the second half of the year due to an increase in demand.

After the publication of The Wall Street Journal announced the plans of Saudi Arabia to expand the volume of export cuts, oil went up. By Tuesday, February Brent futures, trading at the end of December below $ 50 a barrel, nearly reached $ 59, adding about 8% in price. The WTI mark went up by 1.43% per day and by 11.6% compared to December 31, to $ 49.14 per barrel.

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Oil traders also hope for a positive outcome of trade negotiations between the US and China, which started on Monday. Completion of the "war of duties" will support the world economy and, as a result, the demand for raw materials.

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*U.S. Job Openings Drop To 6.9 Million In November

Trading 08 jan 2019 Commentaire »

U.S. Job Openings Drop To 6.9 Million In November


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Pound Declines Against Majors

Trading 08 jan 2019 Commentaire »

The pound drifted lower against its key counterparts in the European session on Tuesday.

The pound dropped to 1.2728 against the dollar, from an early 8-day high of 1.2797.

The pound fell to a 4-day low 1.2494 against the franc, off an early high of 1.2549.

The U.K. currency retreated to 138.48 against the yen and 0.8984 against the euro, from its early 6-day high of 139.44 and a 4-day high of 0.8948, respectively. The next possible support for the pound is seen around 1.25 against the dollar, 1.23 against the franc, 135.00 against the yen and 0.91 against the euro.


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Oil accelerated appreciation amid a recovery in stock markets

Trading 08 jan 2019 Commentaire »

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The cost of oil continues to rise amid a recovery in stock markets. Positive on the markets brought the beginning of trade negotiations between the United States and China in Beijing. Foreign Ministry spokesman Lu Kang said that the Chinese authorities are hoping for mutual respect in resolving trade contradictions.

As a result, stock exchanges in Europe and the United States started to grow, and this provided support to oil quotes. According to the data of the auction, yesterday Brent price reached $ 58.80 per barrel, and today it slightly corrected to the area of $ 58.50 per barrel.

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*Pound Drops To 1.2494 Vs Franc, 0.8984 Vs Euro

Trading 08 jan 2019 Commentaire »

Pound Drops To 1.2494 Vs Franc, 0.8984 Vs Euro


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*Pound Falls To 1.2730 Against Dollar

Trading 08 jan 2019 Commentaire »

Pound Falls To 1.2730 Against Dollar


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Loonie Little Changed After Canada Trade Data

Trading 08 jan 2019 Commentaire »

Statistics Canada has released Canada trade data for November at 8:30 am ET Tuesday. The loonie changed little against its major opponents after the data.

The loonie was trading at 1.5215 against the euro, 81.82 against the yen, 0.9484 against the aussie and 1.3299 against the greenback around 8:34 am ET.


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