Oil Prices Closed Above $100 on Speculation
Wednesday, February 20th, 2008Oil closed yesterday at new record height of $100.10 - a level that had never been seen before. Goldman Sachs have speculated about this for more than two years. In a BBC report then, they said that “.. the oil market… early stages of a ’super spike’, which could push prices as high as $105 a barrel…” However, the oil market finally succumb to these sort of speculations from oil futures trader. Funny enough, this rise was market nothing to do with the numbers but hunch and hear-say. Full BBC story on “Oil prices surge to new records”
Forex: Cable (GBP/USD) Outlook
Friday, August 4th, 2006Cable consolidate gains above the 1.8920 mark making new 11-week highs earlier this morning. The yesterday’s rise of 25bp UK rate is continuing to underpin the pair, as is the risk of a Fed rate pause next Tuesday. Presently, there are speculations on GBP/USD heading towards the yearly high of 1.9026 of May 17th if the July’s US Nonfarm Payroll number fails. On the contrary, above-forecast NFP report could spur pre-weekend profit-taking on long GBP/USD positions. Indicators are still in place for further rise on the hourly chart.
