Blogs

UK Times on comments reportedly made by UK Chancellor of the Exchequer Rishi Sunak – said to have discussed the possibility of a 25% to 30% fall in economic growth in Q2   Link , gated 

GS say the OPEC+ G20 production cut is too little too late, and the bank sees downside risk to its $20/barrel price forecast – "Today's agreement leaves the voluntary cuts as still too little and too late to avoid breaching storage capacity, ensuring that low oil prices force all producers to contribute to the market re

OPEC+ draft statement says the expected total global oil production cuts are effective from May 1 will amount to over 20 million barrels per day  That 20m bpd figure is the effective total cut between OPEC plus and the G20 along with buying from the IEA. 

OPEC+ and the G20 have agreed to cut oil production by just under 10 million barrels / day.  Oil trading begins for the week at 2200GMT with Sunday evening trade on CME,

Great news over the weekend with UK PM Johnson discharged from hospital He had spent a week in hospital, in intensive care for three days with COVID-19. Johnson posted a video message on Twitter (he is at @BorisJohnson)

Good morning, afternoon and evening all. Any charts, technical analysis, trade ideas, thoughts, views, ForexLive traders would like to share and discuss with fellow ForexLive traders, please do so:

Many markets across Asia are closed again today for the final day of Easter holidays. For major FX centres : On the data agenda, not a lot: Markets closed: Open:

The main points of the agreement to cut oil production – a – 13-nation OPEC and others (Russia, US are two) agreed to share cuts Its unclear how the cuts are to be apportioned, and how the US intends to enforce its promised cuts, but indications are (its is very unclear, but these from sources, […]

Good morning, afternoon or evening to all ForexLive traders and welcome to the start of the new FX week. As is usual for a Monday morning, market liquidity is very thin.

Crude oil prices have certainly gained on news of the biggest production cut yet proposed, but the coronavirus will keep question marks over demand.