The number of oil and gas rigs in the world in 2018 increased for the second year in a row

Trading 09 jan 2019 Commentaire »

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According to the American oil service company Baker Hughes, the average monthly number of active oil and gas rigs in the world in 2018 increased by the results of the second year in a row. In 2017, the figure was recorded at around 2,029 units, and in 2018, at 2,211 existing drilling units.

In the United States, the number of active rigs in December increased by 1 unit relative to November data (1078 units), and in Canada, the number of installations collapsed by 57 units, to 141, which was the lowest since May 2018. Thus, North America currently has about 54.3% of the total number of operating drilling rigs in the world.

The number of drilling rigs in Europe in December 2018 increased by 12 to 95 units, which was the maximum since May 2017. The increase in the number of installations in the Asia-Pacific region was 9 units to 231 (the highest level since March 2015). In Latin America, the number of rigs increased by 8 to 197, in Afric, by 5 to 108. In the Middle East, the number of installations has not changed, 394 units.

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Fitch may downgrade the US rating

Trading 09 jan 2019 Commentaire »

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The international rating agency Fitch reported that it could lower the sovereign credit rating of the United States triple-A (AAA) due to the suspension of the work of the federal departments of the US administration.

Fitch CEO James McCormack stressed that if the work of the federal departments does not resume until March 1, then in a few months this will create problems associated with the national debt ceiling.

Since the end of last year, a number of US federal agencies have suspended work due to lack of funding. The Republican and Democratic parties are unable to agree on a budget due to disagreements over the construction of a wall on the border with Mexico.

The current situation calls into question optimistic forecasts of investment banks and the US government regarding the development of the country's economy in 2019. At the same time, the consequences of a slowdown in US economic growth will negatively affect the entire global economy, including the Russian one, which will cause additional pressure on the national currency rate.

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French Consumer Confidence Lowest Since 2014

Trading 09 jan 2019 Commentaire »

France's consumer confidence fell sharply in December to its lowest level since late 2014, survey data from INSEE showed on Wednesday.

The consumer confidence dropped to 87 from 91 in November. The latest reading was the lowest since November 2014.

Economists were looking for a score of 90. The reading is well below its long term average of 100.

The measure reflecting households' willingness to make big purchases shed 15 points to reach its lowest level since June 2013.

Sharp declines were also witnessed in the indexes measuring households' assessment of their personal financial situation and saving capacity.

Households' view on the national economic situation eroded sharply and their fears regarding a rise in unemployment increased. Meanwhile, inflation expectations continued to ease.


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*U.S. Crude Oil Inventories Drop By 1.7 Million Barrels In Week Ended 1/4

Trading 09 jan 2019 Commentaire »

U.S. Crude Oil Inventories Drop By 1.7 Million Barrels In Week Ended 1/4


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EUR/AUD breaking out of major ascending trend line support, prepare to sell!

Trading 09 jan 2019 Commentaire »

EUR/AUD has broken the major trend line support and we look to sell at 1.6065 (horizontal overlap resistance) for a reversal to at least 1.5875 profit target (horizontal pullback support).

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CAD/JPY is approaching our major ascending trend line support, prepare to buy!

Trading 09 jan 2019 Commentaire »

CAD/JPY is approaching our major trend line support and we look to buy at 82.05 (horizontal pullback support) for a bounce to at least 83.33 profit target (horizontal pullback resistance, 50% Fibonacci retracement).

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NZD/USD on major descending trend line resistance, prepare to sell!

Trading 09 jan 2019 Commentaire »

NZD/USD is testing major trend line resistance and we look to sell at 0.67580 (descending trend line support) for a drop to at least 0.66707 profit target (horizontal swing low support).

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The material has been provided by InstaForex Company - www.instaforex.com

EUR/USD on major ascending trend line support, prepare to buy!

Trading 09 jan 2019 Commentaire »

EUR/USD is testing major trend line support and we look to buy at 1.14454 (ascending trend line support) for a bounce to at least 1.14694 profit target (horizontal swing high resistance).

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Eurozone Jobless Rate At Decade-Low

Trading 09 jan 2019 Commentaire »

Eurozone unemployment rate unexpectedly eased in November to its lowest level in over a decade, figures from Eurostat showed on Wednesday.

The seasonally adjusted jobless rate eased to 7.9 percent from a revised 8 percent in October. Economists had expected the rate to remain unchanged at October's original rate of 8.1 percent. The latest jobless rate was the lowest since October 2008, Eurostat said.

Among the big four, the jobless rate remained unchanged in Germany and France, at 3.3 and 8.9, respectively.

Meanwhile, the rate eased in Spain and Italy to 14.7 and 10.5, respectively. Greece continued to log the highest rate at 18.6 percent for September, among euro countries.

The EU28 unemployment rate was 6.7 percent in November, unchanged from October, and the lowest since the series began in January 2000.

In November, the number of unemployed in the EU28 was 16.491 million, of whom 13.040 million were in the euro area. The figure for Eurozone decreased 90,000 from the previous month and by 1.135 million from a year ago.

The youth unemployment rate in the euro area eased to 16.9 percent from 17.8 percent from the same month last year.

"The question remains how long the labour market recovery can go on," ING economist Bert Colijn said. "It could well be that declining unemployment will slow with businesses showing weaker hiring intentions in recent surveys."

Recent indicators suggested a broad-based slowdown in the euro area. Economic sentiment fell to a two-year low in December and underlying inflation and 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 and investor confidence in the euro area deteriorated for a fifth straight month in January to its lowest level in over four years, survey data revealed this month.


The material has been provided by InstaForex Company - www.instaforex.com

Eurozone Jobless Rate At Decade-Low

Trading 09 jan 2019 Commentaire »

Eurozone unemployment rate unexpectedly eased in November to its lowest level in over a decade, figures from Eurostat showed on Wednesday.

The seasonally adjusted jobless rate eased to 7.9 percent from a revised 8 percent in October. Economists had expected the rate to remain unchanged at October's original rate of 8.1 percent. The latest jobless rate was the lowest since October 2008, Eurostat said.

Among the big four, the jobless rate remained unchanged in Germany and France, at 3.3 and 8.9, respectively.

Meanwhile, the rate eased in Spain and Italy to 14.7 and 10.5, respectively. Greece continued to log the highest rate at 18.6 percent for September, among euro countries.

The EU28 unemployment rate was 6.7 percent in November, unchanged from October, and the lowest since the series began in January 2000.

In November, the number of unemployed in the EU28 was 16.491 million, of whom 13.040 million were in the euro area. The figure for Eurozone decreased 90,000 from the previous month and by 1.135 million from a year ago.

The youth unemployment rate in the euro area eased to 16.9 percent from 17.8 percent from the same month last year.

"The question remains how long the labour market recovery can go on," ING economist Bert Colijn said. "It could well be that declining unemployment will slow with businesses showing weaker hiring intentions in recent surveys."

Recent indicator suggested a broad-based slowdown in the euro area. Economic sentiment fell to a two-year low in December and underlying inflation and 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 and investor confidence in the euro area deteriorated for a fifth straight month in January to its lowest level in over four years, survey data revealed this month.


The material has been provided by InstaForex Company - www.instaforex.com