08 February 2017
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US Crude Oil Inventories: Wednesday, 15:30. U.S. crude stocks increased in the week to Jan. 27. Crude inventories edged up 6.5 million barrels exceeding analyst expectations for an increase of 2.6 million barrels. Crude prices remain relatively elevated due to the weakening US dollar index. Gasoline stocks rose by 3.9 million barrels, and demand fell 5.7% from a year ago over the past four weeks. Refinery crude declined 100,000 barrels per day, and utilization rates fell by 0.1 percentage points. U.S. crude imports rose by 530,000 barrels per day.
New Zealand rate decision: Wednesday, 20:00. New Zealand’s central bank decided to cut rates by 25 basis points to 1.75% amid international risks, mainly U.S. political uncertainty and the Brexit aftermath. The reading was in line with market forecast. RBNZ Governor Graeme Wheeler said the bank asked the government to add further macroprudential measures such as debt-to-income ratio limits (DTI) to fight low inflation without stoking an already hot housing market. New Zealand’s economy expanded at an annual 3.6% in the second quarter and the jobless rate has declined to near eight-year lows of 4.9% in the third quarter as employment grew past all expectations.
USD US Crude Oil Inventories
NZD New Zealand rate decision
Your capital is at risk!
- GOLD
The gold is traded above a strong support level above 1225 so we believe that as long as the pair is traded above it, it is highly recommended to go long targeting the level of 1242 during the day.
Resistance levels: |
Support levels: |
Recommended: |
▪ 1240 ▪ 1242 ▪ -- |
▪ 1225 ▪ 1220 ▪ 1215 |
We remain bullish as long as the pair is traded below the level of 1225. Your capital is at risk! |
- GBPJPY
The pair is traded below a strong resistance level around 140.75 so we believe as long as the pair is traded below it, it is highly recommended to go short targeting the level of 140 during the day. On the other hand, breaching the level of 140.75 opens the door for the pair to reach the level of 142
Resistance levels: |
Support levels: |
Recommended: |
▪ 140.75 ▪ 142 ▪ -- |
▪ 139 ▪ 138.20 ▪ --
|
We remain bearish as long as the pair is below above the level of 140.75 Your capital is at risk! |