Oil price steadily entrenched above $ 61 dollars per barrel.

  • And
  • +A

The price of Brent crude oil increased relative to the previous close of 1.1% to 61,34 dollars per barrel. The market of “black gold” after a morning decline returned to growth. First, market participants had less than analysts expected, the decline in oil reserves in the USA (according to the American petroleum Institute – API). Then, they noticed a General increase in risk appetite among investors.
This contributed to the weakening of the risks of escalating U.S.-China trade war. On Thursday, Prime Minister of China Liu he on the phone agreed with US trade representative Robert Leithiser and the Secretary of the Treasury Stephen Mochino about carrying out in October, the trade negotiations at a high level.
Meanwhile, Norwegian oil and gas group Equinor (previously worked under the brand Statoil) said the spill because of the hurricane “Dorian” oil at its marine terminal in the Bahamas.
It is already more than 220 thousand inhabitants of the U.S. States of South Carolina and Georgia were left without electricity due to hurricane “Dorian”, reached Thursday the fifth category of danger.
The Euro against the dollar continued to rise, correcting the recent failure to lows in may 2017 in the area of 1,093 USD. Pressure on the dollar in the major currency pair have a surprisingly weak weekly data on the us labor market.
The number of Americans who first applied for unemployment benefits during the reporting period, increased by 1 thousand to 217 thousand, while analysts had forecast the figure at 215 thousand. The specified moving average indicator four weeks increased by 1.5 thousand to 216,25 thousands.
However, data from research firm Automatic Data Processing (ADP) for August turned out to be more optimistic and mitigated the negative effect of weekly reporting for the dollar. The number of jobs in private companies in the U.S. in August rose (per month) at 195 K under the expert growth expectations only 148 thousand.
In the end, 16.26 GMT the Euro exchange rate increased from the start of trading on the last fixing by 0.3% to 1,1075 dollar.
Valery Polkhovsky,
Financial scout,
Forex Club