Got Crude? Forex / CFDs (FOREX-OIL)

[Den]

[Den]

Libya rebel chief says oil exports may take years
inShare.0Share thisEmailPrintVIENNA, June 30 | Thu Jun 30, 2011 5:04am EDT

VIENNA, June 30 (Reuters) - Libyan rebel chief Mahmoud Jibril said on Thursday it may take years for his forces to resume oil exports from the country where they are trying to topple leader Muammar Gaddafi.

"No, no oil is being sold. A lot of the oil well system was destroyed, especially in the East," he told a news conference, adding the system had to be restored.

"We really don't know when we will be able to do that. You know the situation we are in. It can be it takes months, it can take days, it can also be that it takes years."

[Den]

$WTIC - Daily Candlesticks

[Den]

LOL* ->
SAUDI APPEARS TO BE RAISING OIL OUTPUT DESPITE OPEC STALEMATE
Saudi Arabia is offering more crude to Asian term buyers for July, which traders say is a sign it is going ahead with the increase in output it promised before the OPEC meeting, despite the failure of the oil cartel to agree to raise production.

[TakingProfits]

European Session
Euro rattled by German official's comments, USDJPY hits new month low
Monday 4th June 2011

The Euro hit a fresh one-month high against the U.S. Dollar just as European markets began trading, hitting 1.4657. However, the Single Currency was soon rattled by some negative news and rocked off its highs to drop 67 pips down to a session low of 1.4592. A spokesman for the German finance ministry said it was not certain there would be a second Greek bailout programme. However, investors believe that the Euro will remain supported by expectations of a rate hike by July. The focus is now on the ECB meeting on Thursday to see if any signals will be given or hawkish comments. If there is a rate hike, the interest rate differential between the E.U. and U.S. will help buoy the Euro against the greenback.

Sterling moved down from its early morning highs of 1.6441 to inch down to 1.6382 against the U.S. Dollar after the International monetary fund mentioned in its annual report to the UK economy that the government should maintain its current course and not adjust its macroeconomic policies. The IMF said that the weakness in economic growth and rise in inflation over the last several months was unexpected and temporary. This signals clearly to the markets that the UK will not be raining interest rates anytime soon. Meanwhile, EURGBP remains close to the four-week high, trading within a range of 0.8922 and 0.8896. Both currencies were volatile today as the Euro was rocky after the German official's comments and the Pound was dragged down on expectations of no interest rate change.

The Swiss franc lost its hold against the U.S. Dollar, and the greenback eased off its all time lows reached after disappointing U.S. jobs data on Friday pushed cautious investors into the safe-haven currency. By the start of the European session, USDCHF climbed up 45 pips from 0.8340 to 0.8385, as profit-takers allowed the pair to pull-back. The Euro was struggling to rise against the Franc, aided initial by the optimistic news of Portugal's election results which ended months of political uncertainty in the debt ridden country. Also the fact that Greece will be receiving its next aid tranche buoyed the Single Currency but gains were checked as some uncertainty came back after the German official's comments that it's too early to rejoice since the second bailout deal has not been put in place yet.

The U.S. Dollar hit a one-month low against the Japanese Yen in the European session, as concerns on the health of the U.S. economy grow after the Dollar Index dipped as low as 73.643, a trough not seen since May 5, after the closely watched non-farm payrolls report last Friday showed a sharp slowdown in job creation, pushing the unemployment rate up to 9.1 percent from 9.0 percent. USDJPY pair inched down from the open of 80.30 to 79.97. The Yen is generally seen as a safer currency versus the greenback.

[Circuit_Racer]

awesome site Taken Profs, has alot of good info.

[Den]

Will OPEC increase, or leave oil output unchanged next week?

As next week’s OPEC meeting draws closer, analysts are divided as to whether the oil cartel will keep oil output unchanged, or to raise production targets.

An economic advisory group within OPEC on Friday presented findings showing global oil demand would increase significantly in the second half of 2011, according to a senior OPEC delegate from a Persian Gulf country.

OPEC Oil Output Increase?

“The most likely outcome of the meeting will be an increase. The amount of the increase is yet to be decided by OPEC ministers, all the numbers in the market now are just guesswork.” according the OPEC delegate.

The numbers presented at the meeting suggested OPEC will need to boost its oil production quotas beyond current output levels. The eleven member nations bound by quotas, Iraq is exempt, are already producing about 1.5 million barrels a day above allotments totaling 24.845 million barrels a day.

Current Oil Output Levels

OPEC has left its production target at 24.845 million barrels per day since early 2009. The IEA estimates that output stood at 26.15 million barrels per day in April.

However, Iran’s OPEC governor, Muhammad Ali Khatibi, said a move to boost output was difficult to understand in light of high inventories and the recent drop in oil prices.

“We should respond based on facts and figures, not based on rumors or expectations from OPEC.” Mr. Khatibi said in a telephone interview.

Oil Output Unchanged?

“I would expect OPEC to leave quotas unchanged, rather than raise them, given the growing evidence that global demand is slowing. We expect no change in OPEC quotas once again. Certainly, oil consuming nations would welcome an increase but increasingly, OPEC is responding to market signals outside of the formal quota system.” said Capital Economics analyst Julian Jessop.

The oil output debate suggests that next week’s gathering in Vienna could be OPEC’s most contentious in years, as the organisation struggles to find a common voice in response to $100 plus oil prices and the rising demand of consumers for more oil.

Next week’s meeting comes against a backdrop of historic political change in the oil rich Middle East and North Africa region that has exacerbated tensions between some Middle Eastern governments, as several have boosted domestic spending to head off further unrest.

OPEC has not boosted oil output since before the 2008 economic recession, the last output increase was way back in 2007.

[Den]

great site' :)

[TakingProfits]

tons of info on this site! I think we have a site for tons of research feeds now.

http://www.daytradecrudeoil.com

[Circuit_Racer]

people dont realize but america profits more from the price of oil being sky high, as petro dollars have to be recycled through american banks.

the way the media spins things is amazing hahaha.

but who will be right?

goldman @ 120?

or the middle East @ 70 - 80?


Either way we gonna make about 2,000 pips in any direction hahahhaa.


GLTA and enjoy your weekends.

[TakingProfits]

Dollar touches record low against Swiss Franc
Friday 3rd June 2011

Trading Point Daily Market Review - United States Session

The Euro hit a one-month high against a broadly weak US Dollar. Firstly the Euro was buoyed by the good news that Greece will receive its next aid payment and avoid restructuring its debt. Also, the conclusion of the troika mission to put in place the second bailout plan helped lift the Euro. Meanwhile the Dollar was weakened after poor non-farm payroll data which suggested the U.S. economy is on a longer road to recovery than expected. EURUSD climbed to a new month high of 1.4641, gaining 153 pips from the U.S. session open price of 1.4488.

Sterling dropped to a four-week low against the Euro in the U.S session, pushed down by the stronger Single Currency which was lifted by a wave of optimism on a Greek debt solution. Interest rate differentials also lifted the Euro against the Pound, as the EU will likely raise interest rates before the UK, as there is more evidence of slow UK economic recovery. EURGBP edged up to highs of 0.8992 from session low of 0.8867. Against the greenback, the Pound pared losses against a weak dollar after data showed U.S. jobs growth slowed sharply in May, reinforcing the view that the world's largest economy is stuck in a soft patch. GBPUSD rose to highs of 1.6437 from lows of 1.6290 in US trading hours.

The greenback tumbled to a new all-time low against the safe-haven Swiss Franc. After news that U.S. non-farm payrolls only rose by 54,000 in May and unemployment rate was up to 9.1%, risk aversion caused investors to demand the safer Swissy, as the Dollar is now vulnerable to depreciating further if US growth slumps in the long-term. USDCHF plunged to the lowest level on record to 0.8334 from the US session open at 0.8412.

The Canadian dollar recovered losses made when the US jobs report caused it to drop against the greenback. The Loonie is a commodity-linked currency, so the weak employment report and a weaker US economy leads to a drop in oil prices, and consequently a drop in the Canadian Dollar. However, a later report that Canada's Conservative government will focus on jobs and growth while eliminating the federal budget deficit, helped lift the Canadian currency again. The government also mentioned it aims to balance the budget by 2014 without raising taxes. USDCAD had reached a high of 0.9850 after the US non-farm payroll data, but then fell to 0.9751 as the Loonie recovered on the good news from the Canadian government's new mandate.

Gold surged to a two-day high almost close to the month-high reached on June 1st. After the disappointing U.S. jobs report weakened the greenback, spot gold jumped over $21 to $1,546.68 from $1,524.83 a troy ounce. Investors turn to gold as a safe haven during political and economic insecurity and inflationary pressure. It typically has an inverse relationship with the U.S. Dollar and moves in the opposite direction to the dollar. Gold last hit a record high of $1,575.78 on May 2. If uncertainty over the U.S. and overall global economic health is heightened, that high may be breached again soon.

[Circuit_Racer]

Excellent, i recomend anyone joining this board, send anyone of the mods a PM to get details on how to get started.



hope everyones made some great coin today, an i wish everyone a fantastic weekend.

see you all sunday evening for tokyo open



Sco0pz~

[TakingProfits]

Board marks going up already....very nice!

[TakingProfits]

Nice D

[Circuit_Racer]

NIIIIIIIIIIIIIIICE Big Daddy D,

this the second time cracken a million in 3 months hahahahahahahaha.



BIG moooooves on crude today

[TheProfessor]

Nice D, you planted your feet in the millionaire's club. Congrats on another milly.

[dlake]

Wow Killing it, Silver, just made another 27000, Wee!$$$$$$$$$$$
ebit/Credit 6/3/2011 3:30:58 AM 22,025.00 0 0 0 0
Debit/Credit 6/3/2011 4:14:44 AM 29,803.50 0 0 0 0
Debit/Credit 6/3/2011 4:43:40 AM 8,200.00 0 0 0 0
Debit/Credit 6/3/2011 4:46:55 AM 1,275.00 0 0 0 0
Debit/Credit 6/3/2011 7:39:20 AM 27,325.00 0 0 0 0

Ending Balance $1,033,303.5

[dlake]

JUST BROKE 1 MILLION, YES, $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$ GO SILVER, LOL ebit/Credit 6/3/2011 3:30:58 AM 22,025.00 0 0 0 0
Debit/Credit 6/3/2011 4:14:44 AM 29,803.50 0 0 0 0
Debit/Credit 6/3/2011 4:43:40 AM 8,200.00 0 0 0 0
Debit/Credit 6/3/2011 4:46:55 AM 1,275.00 0 0 0 0

Ending Balance $1,005,978.5

[dlake]

Slinging Silver , Almost 10000000, Killing it, lol $$$$$$$$$$$$$$
ebit/Credit 6/3/2011 3:30:58 AM 22,025.00 0 0 0 0
Debit/Credit 6/3/2011 4:14:44 AM 29,803.50 0 0 0 0

Ending Balance $996,503.5

[TakingProfits]

Got Crude? Forex / CFDs (FOREX OIL) board gonna be big!

[Circuit_Racer]

there daily reviewz are pretty sweet, lots of good money opp's comen tomorrow a.m


get rdy for london, 30 mins away.

[TakingProfits]

Trading Point Daily Market Review - Asian Session
Euro hits new month high against Dollar
Friday 3nd June 2011

The Euro touched a new one-month high against the dollar over night in Asian trading, spiking slightly past the Thursday high to 1.4517. The Single Currency was given a boost by a weaker Dollar which is weighed down as investors are concerned whether U.S. jobs data due later in the day might signal a protracted soft patch in the U.S. economy's recovery and a further slide in the dollar. Meanwhile, the Euro is still supported by the wave of optimism as a deal is being reached for a second Greek bailout package. EURUSD was mostly trading sideways all session except for the spike to the month-high, remaining above 1.4478.

Sterling remained below its high reached against the Dollar yesterday after positive construction PMI data. GBP hasn't made a clear trend yet. There is not much action in the market as investors are reducing risk ahead of the important US Non-farm payrolls report to be released later today. Expectations are for a drop in the numbers,, however, some market players say the chances of a steep dollar sell-off after the U.S. jobs data on Friday do not seem very high since the market already factored it in after the disappointing private US ADP jobs report last Wednesday. GBP USD highs were at 1.6379, lows at 1.6335.

The Japanese Yen moved higher against the Dollar in Asian trading, helped by a weaker greenback. The Yen is considered to be a safer currency versus the Dollar. Until U.S. non-farm payrolls figures due later on Friday, in the wake of a poor run of data for the world's largest economy, there will not be much Dollar buying. This put pressure on USDJPY, pushing it down overnight from 80.87 down to 80.66.

The Australian Dollar held on to gains versus the greenback overnight, rising to highs of 1.0715 and remained above the 55 Moving Average. Lowest point was 1.0660. Overall the Aussie was trading much lower today compared to the highs reached on Monday this week at 1.0756 but it has been holding steady. As the Australian currency is considered a risk currency, and a commodity-linked currency, market players are playing it safe and are on a wait-and-see mode ahead of the key US jobs data coming out later today.

Spot gold held steady overnight with no major movements on a slight downtrend. The precious metal is being supported by a risky Dollar after negative news that Moody's ratings agency threatened to cut the U.S. credit rating. Again, investors are on the sidelines waiting for the US non-farm payrolls data. If the NFP data turns out worse than expected, it may boost gold to advance towards new record highs in the next few days. Spot gold touched highs of $1,534.78 and lows of $1,529.92.

[TakingProfits]

This guys good!

[Circuit_Racer]

hmmm. i have no idea what you are talking about....



who is this professor hahahhaa

[Circuit_Racer]

buy support sell resistance, great call on the short.


it then bounced off my good friend the EMA 143 on the 1 day chart an shot up for a gain of approx 200 pips

[TheProfessor]

I wonder how you go those custom hot key scripts. The Professor making every pip count.

[dlake]

Nice charting , your call was dead on, nice play J

[TheProfessor]

Beautiful 100+ pip drop after oil inventories news. Every 1st week of the month plenty of potential. Play it up or down no need to go looking for shares to short.

[Circuit_Racer]

LOLOL, it gonna be ugly


luckily, i got my hot keys running hahahhaa,

[TakingProfits]

Trading the Crude Oil Inventory Numbers

http://www.learningmarkets.com/trading-the-crude-oil-inventory-numbers/

[dlake]

US dollar heading south tomorrow, nice short opportnity

[dlake]

yeah for sure scoopz, break out your short pencil, tomorrow, shes heading south, lol

[Circuit_Racer]

thats amazing D, you truly are a champion of the game

[TakingProfits]

Lots of volatility tomorrow!

[dlake]

Special News Alert, Get ready for green tomorrow,




Research Note: May US Employment Report-Friday, June 3, 2011




Summary Outlook

Tomorrow, Friday June 3, at 0830ET/1230GMT, will see the release of the May US Employment Report, along with revisions to the March and April surveys. Consensus estimates are for an increase in non-farm payrolls (NFP) of +170K (prior +244K) and a dip in the unemployment rate to 8.9% (prior 9.0%), according to Bloomberg surveys of 88 economists. Estimates range from +65K to +250K for NFP. However, following Wednesday's weaker-than-expected ADP private payroll data (+38K vs. expected +175K), many economists revised their forecasts lower. Of those who did, the consensus forecast is now for a NFP change of around +120K, and we think this will be the benchmark markets use to gauge the strength of US job creation. Recent US data point to a slowdown in US hiring, in our view, but the question will be 'how much?' We think a NFP change above +150K will be interpreted as 'not that bad' and may see risk assets rebound (stocks, commodities, USD/JPY and other JPY-crosses higher/USD lower), while a NFP gain of less than +100K will likely be interpreted as 'worse than expected,' potentially seeing risk assets sell-off. The prior months' revisions will be critical for gauging the degree of any hiring slowdown; we will ignore any changes to the unemployment rate due to mixed signals in that data series.

Trading Strategy

After the disappointing ADP report, markets suffered a spasm of pessimism and stocks and other risk assets sold off sharply on Wednesday. Thursday saw some stabilization, but overall we think markets are now positioned for a weak NFP number and potential further weakness in risk assets. Perhaps counter-intuitively, this shifts the event's risk to a 'better than expected' NFP reading (NFP +150K or better), confounding the bears and pessimists and possibly triggering a strong rebound in risk assets. We think it will take a NFP change of +75K or less to see the risk sell-off extend its decline, given the sell-off that has already occurred. We think the USD remains vulnerable and is likely to suffer in either scenario, as weaker US job creation undercuts the strength of the US recovery, while better job creation will embolden risk sentiment and reduce safe haven demand for US Treasuries and the greenback. As such, we think USD strength in the post-NFP reaction around 50-80 pips from pre-NFP price levels may offer more advantageous levels to establish short USD positions.

[TakingProfits]

Nice I remember the first Million u made....

[dlake]

Forex looking good tonight ,nice green action, million on deck, lol

Debit/Credit 6/2/2011 8:16:35 PM 13,700.00 0 0 0 0
Debit/Credit 6/2/2011 8:36:50 PM 2,400.00 0 0 0 0
Debit/Credit 6/2/2011 8:48:48 PM -6,400.00 0 0 0 0
Debit/Credit 6/2/2011 9:11:44 PM 5,000.00 0 0 0 0
Debit/Credit 6/2/2011 9:38:26 PM 7,600.00 0 0 0 0
Debit/Credit 6/2/2011 9:50:59 PM 4,000.00 0 0 0 0

Ending Balance Jun 30, 2011 $974,325

[Circuit_Racer]

you forgot 1.... an potentialy my favourite one of all

INFINITE LIQUIDITY!!

no bid wax, no RS's

[TheProfessor]

Always liquid and flowing $$$$.

[TakingProfits]

Let see, trading Forex = no dilution, stinky pinkies, lying CEOs, open 504s, promos, pump & dumps or any other penny scheme!

[Circuit_Racer]

thx for the invite T.P, i'll do my best to put out as much info as i can.


this is the future of trading imo.

[TakingProfits]

Looking for $$$$ per day!

[TakingProfits]

Welcome to the new board!

[Circuit_Racer]

barrels an barrels playboi,

you'd get a hemorrhage over all this leverage hahahahahaha.


frankfurt opens in 30 minutes you rdy?

[TheProfessor]

I got Crude, Do you?
Making money, dripping black gold 24/7.

[Circuit_Racer]

First Post

And just the begining.


GLTA CFD oil TRADERS.


LETS MAKE SOME MONEY!



Holla @ cha boi

Sco0pz~