Crypto Market Changes The Trend
Happy Tuesday, dear traders! Here’s what we follow:
How will Brent react to OPEC-JMMC meetings?
Information is not investment advice
What will happen?
On Thursday, August 12, during the day members of the Organization of Petroleum Exporting Countries (OPEC) and Joint Ministerial Monitoring Committee (JMMC) will discuss a range of issues regarding energy markets and, most importantly, agree on how much oil they will produce. The representatives from the 13 OPEC members and 11 other oil-rich nations will attend. The meetings are closed to the press, but officials usually talk with reporters throughout the day, and a formal statement covering policy shifts and meeting objectives is released after the meetings have concluded.
Members didn’t make the decision during the last OPEC-JMMC meeting on July 2. The announcement of oil production increase appeared later, on July 18, and led to a 6% Brent price drop.
Price change after OPEC's decision
How to trade on OPEC-JMMC meetings?
- Production increases put a negative effect on the oil price.
- Production decline put a positive effect on the oil price.
Instruments to trade: XTI/USD, XBR/USD
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Crypto Market Changes The Trend
Happy Tuesday, dear traders! Here’s what we follow:
The US Labor Market And Real Estate Market Are In Focus This Week
Labor Market and Real Estate Market data was published yesterday. Markets are slowing down, so the economy is in recession. Today the traders should pay attention to the Retail sales in Canada.
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