Oil makes the volatility go around – Deutsche Bank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 25, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    Research Team at Deutsche Bank, suggests that a lot of the volatility yesterday was centered on oil.

    Key Quotes

    “It had initially continued the downward trajectory it had been on from Tuesday afternoon in what’s been a fairly wild week so far, touching a low yesterday of $30.56/bbl on the new contract which was nearing a 4% drop on the day (and nearly 9% off Tuesday’s high) before a sharp reversal sparked by the latest inventory data saw it bounce off the lows to close up +0.88% on the day and back above $32/bbl.

    Despite the latest EIA data showing crude stockpiles building on their 86-year high, much of the commentary was focusing on the larger than expected decline in Gasoline stockpiles last week which fell 2.2m barrels while demand for Gasoline and other refined products were up. That helped Gasoline futures climb over +4.5% yesterday.”
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