FIS API Blog
Saudi Minister Says OPEC+ Could Cut Production At Any Time Citing “disconnect” in the oil futures market, Saudi Energy Minister Prince Abdulaziz bin Salman dangled the threat of potential OPEC+ production cuts that could come at any time. In an interview with Bloomberg on Monday, the Saudi energy minister said that “extreme volatility” was …
Continue reading “Saudi Says OPEC+ Could Cut Output At Any Time 23/08/22”
Verdict – Short-term neutral. DCE iron ore January rebounded, however resisted by important neckline area at 700.0. Hourly MACD flattened above 0 axis. Hourly CCI decreased to bearish territory. Technical signals were indicating the price movement entered a consolidation period. However a breakthrough on 700.0 level would lead iron ore back to strong rebound …
Continue reading “Iron Ore DCE January Daily Technical Review 22/08/22”
Market Verdict on Iron Ore： • Neutral. Macro • Chinese Loan Prime Rate at 1-year length cut 5 bps to 3.65%, 5-year length at 4.3%, cut 15 bps. • Chinese State Council decided to extend the policy of exempting new energy vehicles from purchase tax to the end of next year, and it is …
India’s beneficiation of low-grade iron ore could result in new trade patterns India’s push toward the beneficiation of low-grade iron ore could result in new trade patterns emerging in the future if implemented, market sources told Fastmarkets last week. It could mean a higher acceptance among buyers of Indian iron ore in the seaborne market, …
Continue reading “India Pushes Forward The Beneficiation Of Low-grade Iron Ore 22/08/22”
Verdict – Short-term neutral to bearish. DCE iron ore January corrected as expected from previous reports. The daily high moved lower from 697.0-700.0 level to 691.0 area. Intra-day support fell on 672.0-673.0 level. However it was difficult to see strong support above 650.0 level. MACD stayed in bearish territory during most of hours since …
Continue reading “Iron Ore DCE January Daily Technical Review 19/08/22”
Market Verdict on Iron Ore： • Neutral. Macro • China NBS: July excavators produced 19,612 units, down 3.2% on the year. Jan-July total produced 185,743 units, down 25.6% on the year. Jan- July total sold 161,033 units, down 33.2% on the year. • U.K. CPI in July up $10.1 on the year, refreshed the …
Verdict – Short-term neutral to bearish. DCE iron ore January corrected slightly as expected from previous report. Iron ore was rejected by 700.0 yuan during the day. The lower support was near 676.5 area, where market saw two reversal on hourly chart. Hourly MACD was in bearish territory in most of time since August …
Continue reading “Iron Ore DCE January Daily Technical Review 18/08/22”
Market Verdict on Iron Ore： · Neutral. Macro · NAHB/Wells Fargo Housing Index(HMI) decrease 6 to 49, created the eighth consecutive monthly decrease. The number was also the lowest since 2014, which indicated the U.S. economy was slowing down. · AFS: Global automobile market decreased 2.9973 million units, expected to decrease 3.8262 million units …
Verdict – Short-term neutral to bearish. DCE iron ore January failed to extend the previous growth and went back to a descending tunnel. Daily MACD entered a bearish territory. Daily CCI entered a bearish territory. Iron ore potentially see oversold rebound in the next few sessions. However technical signals were indicating iron ore entered …
Continue reading “Iron Ore DCE January Daily Technical Review 17/08/22”
Market Verdict on Iron Ore： · Neutral. Macro · NAHB/Wells Fargo Housing Index(HMI) decrease 6 to 49, created the eighth consecutive monthly decrease. The number was also the lowest since 2014, which indicated the U.S. economy was slowing down. · AFS: Global automobile market decreased 2.9973 million units, expected to decrease 3.8262 million units …
