Weekly Trading Update

OPEC-JMMC meeting is the highlight of a big week for the rest of the world



With the Fed and Bank of England meetings out of the world, attention turns to the oil community for the meeting of the JMMC.

World
On Thursday we see the second meeting of the year for the Joint Ministerial Monitoring Committee (JMMC), with the task of finding a successful path to the completion of objectives set in the 181st meeting of the OPEC conference.

With the aim of committing to a stable global oil market, if the JMMC can find a successful route to achieve this, investors will see the $75 dollar a barrel level as a realistic target for rising Oil prices.

After last week’s manufacturing PMI results being released for most European countries, this week sees the release of China’s manufacturing PMI, a good comparative for Europe to see how they stack up against the rest of the world.

US
Another important week for the US lies ahead with some big announcements to be released throughout. On Thursday we will see the US release their ISM manufacturing PMI. The week of important releases does not end there, with Friday highlighting Average Hourly Earnings, the Non-Farm Employment Change, and most importantly the US Unemployment Rate. With the Dow and S&P recovering last week from a sizable dip, investors will be interested to see if their results can simulate further growth, and a strong start to July.

UK
After an important last week with the meeting of the MPC, this week sees a relatively quiet week for the UK with no major announcements to come.

SEARCH FOR AN ARTICLE:

Enter a keyword and search for all relevant articles

MARKET ANALYSIS

RECENT POSTS

Financial Trading Blog

Yen Resumes Weakening Despite BOJ Intervention

Read More

Daily Market Update

10.05.24 Friday Morning

Equities The FTSE 100 continued its ascent, reaching record highs for a fourth consecutive session after the Bank of...

Read More

Economic Diary

10.05.24

Read More

Financial Trading Blog

UK Bank Stocks Surge Double Digits

Read More

Daily Market Update

09.05.24 Thursday Morning

Equities The FTSE 100 hit a new record high, climbing 0.5% to close at 20,491.99 points. This uplift in the UK's...

Read More

Economic Diary

09.05.24

Read More

DISCLAIMER


Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64% of retail investors lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money. For professional clients, spread betting and CFD trading can also result in losses larger than your initial stake or deposit.

Spreadex Ltd is authorised and regulated by the Financial Conduct Authority, provides an execution only service and does not provide advice in any way. Nothing within this update should be deemed to constitute the provision of investment advice, recommendations, any other professional advice in any way, or a record of our trading prices. This update does not constitute or form part of an offer of, or solicitation for a transaction in any financial instrument, nor shall it or the fact of its distribution form the basis of, or be relied on in connection with, any contract therefore. Any persons placing trades based on their interpretation of the comments or information within this update does so entirely at their own risk.

No representation, warranty, or undertaking, express or limited, is given as to the accuracy or completeness of the information or opinions contained within this update by Spreadex Ltd or any of its employees and no liability is accepted by such persons for the accuracy or completeness of any such information or opinions. As such, no reliance may be placed for any purpose on the information and opinions contained within this update.

The information contained within this update is the intellectual property of Spreadex Ltd and is protected by UK and International copyright laws. All rights reserved. Users may however freely download, distribute and reproduce extracts of the contents, subject always to accrediting Spreadex Ltd as the source and providing a hyperlink to www.spreadex.com.