Crude Oil Fundamental Analysis February 21, 2012, Forecast
Economic Events: (GMT)
WEEKLY
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Analysis and Recommendations:
Crude Oil continues to climb today, on news that Iran has stopped shipping or accepting orders from many EU nations. Although the markets have already taken the embargo’s effect into account, the surprise news today, continued to push oil upwards, reaching 105.80 to settle at 105.25.
Combining the geopolitical pressures with the possible agreement with Greece and compounding that with the Chinese Reserve drop, was interpreted as a higher demand on oil, pushing the prices upwards.
Monday February 20, 2012 Economic Reports actual v. forecast
US markets closed today for holiday
|
Actual |
Forecast |
Previous |
||
|
GBP |
Rightmove House Price Index (MoM) |
4.1% |
-0.8% |
|
|
THB |
Thai GDP (YoY) |
-9.0% |
-4.3% |
3.7% |
|
EUR |
French Business Survey |
92 |
92 |
92 |
|
EUR |
Italian Industrial New Orders (MoM) |
5.5% |
-0.5% |
0.2% |
|
RUB |
Russian Retail Sales (YoY) |
6.8% |
10.2% |
9.5% |
|
RUB |
Russian Unemployment Rate |
6.6% |
6.3% |
6.1% |
Originally posted here
