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Crude Oil Fundamental Analysis
12/10/2017
Crude Oil Fundamental Analysis

The US Labor Department will report on factory-gate prices at 08:30 GMT. What will impact Crude oil moves? Let find out with this 12 October Crude Oil Fundamental Analysis from OctaFX.

12 October, OctaFX – The producer price index (PPI) is expected to rise 2.5% annually in September, up from 2.4% the previous month. Core PPI likely rose 2% year-over-year, according to forecasts.

Bank of England (BOE) Monetary Policy Committee member Andrew Haldane will kick off the central bank commentary at 13:00 GMT. Haldane has emerged as one of the BOE’s more hawkish members.

Later in the day, European Central Bank (ECB) President Mario Draghi and Executive Board Member Peter Praet will also deliver speeches.

Federal Reserve bankers Jerome Powell and Lael Brainard are also due to speak.

12 October Crude Oil Fundamental Analysis

Oil prices are riding high this week on signs of improving demand. US crude prices rose sharply above $51.00 a barrel on Wednesday. Prices pulled back through the overnight trade to settle in the low $51.00 range.

The latest rally in oil prices formed a double-top. A failure to extend the gains north of $51.40 may trigger another short-term pullback in the market. That being said, the bulls are finally gaining traction.

12 October Crude Oil Fundamental Analysis

Disclaimer

This article about 12 October Crude Oil Fundamental Analysis should substitute for professional marketing consulting. Forex margin trading involves substantial risks. Forex margin trading exposes participants to risks including, but not limited to, changes in political conditions, economic factors, and other factors. All of which may substantially affect the price or availability of one or more foreign currencies.

Also, speculative trading is a challenging prospect, even to those with market experience and an understanding of the risks involved.

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