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FXTM Forex Market Update | 07/06/2018

Global stock markets have ventured higher as investors shrugged off trade concerns an. “Trade” will be a major talking point during the G7 summit in Quebec on Friday. The Dollar has extended losses on the back of profit taking. Oil remains in limbo ahead of the upcoming OPEC meeting on 22 June while Gold continues to search for a directional catalyst. • The #EURUSD has punched above 1.1820 • #Gold hovers around $1300 For more Market Analysis read the latest @ http://fxtm.co/marketupdate-yt

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22 June @ 17:10

By Lukman Otunuga, Research Analyst

Oil rallies as OPEC strike output deal
Oil prices have appreciated sharply following reports of OPEC achieving a last-minute deal to boost crude oil production during a meeting in Vienna. In a positive development, OPEC ministers reached an agreement to increase oil production from July after Saudi Arabia successfully persuaded Iran...

22 June @ 13:34

By Lukman Otunuga, Research Analyst

Markets brace for OPEC showdown in Vienna
There seems to be a growing sense of uncertainty over what to expect from today’s OPEC meeting in Vienna, given the disagreements among major oil producers around whether to boost output. While Saudi Arabia and Russia have proposed to ease supply curbs, other members including Iran, Iraq,...
Alex Gurr

22 June @ 02:08

By Alex Gurr, Guest Analyst

OPEC looks to increase supply
Oil markets have been focused on the OPEC meeting happening at present which is likely to wrap up tomorrow and give some serious insight into OPEC's future plans for the market. So far though it looks like OPEC has agreed to increase supply in the market place by roughly 1 million barrels, however...