Archive - November, 2016

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It appears OPEC has finally agreed to cut production in a drive to end global surplus Bloomberg News has reported that OPEC clinched a deal to curtail the global oil supply today, surprising many, in a bid to clear a record global crude glut thus going a long way to prove the group’s credibility; this will be its first cut in 8 years, . OPEC will reduce production by 1.2m barrels a day to 32.5m a day, a delegate said this afternoon in Vienna, however he has asked not to be…

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We are closing in on the October’s release of US Non-Farm Payrolls data. The following are the expectations as forecasted by the economists and researchers of 7 major banks. After the September employment report indicated that the US labour markets continued to tread water, all the 7 major banks expects that the October NFP is likely to print a number in between 170K to 245K while given the steady job gains, the unemployment rate is likely to return to 4.9% in October. In…

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