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  • Article / Thursday at 14:45 GMT

    Opec: Cartel of collusion or an ouroboros?

    Managing Partner / Spotlight Group
    United Kingdom
    Opec: Cartel of collusion or an ouroboros?
    Opec is dominated by the will of its leading member and oil producer, that is, the Kingdom of Saudi Arabia. Its nations have to fall in line with KSA and to the direction it wants to take – which sounds like a cartel. But in the end the market will triumph as the cartel might raise prices but it cannot create effective barriers to entry.
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  • 2d
    chi2015 chi2015
    great stuff, learn by history or be destined to repeat it
  • Article / 19 August 2016 at 13:30 GMT

    WCU: Mission accomplished as oil returns to $50/b

    Head of Commodity Strategy / Saxo Bank
    WCU: Mission accomplished as oil returns to $50/b
    Opec has once again managed to support oil prices by verbal intervention alone. A 22% oil rally within the past couple of weeks has seen oil return to $50/barrel, sharply reducing what had been a growing short position in the market. Precious metals remains on the defensive ahead of the Jackson Hole meeting next week.
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  • Article / 17 August 2016 at 12:30 GMT

    Clinton's status quo is not fit to rule

    Editor / Saxo Bank
    Clinton's status quo is not fit to rule
    Democratic presidential candidate Hillary Clinton offers many a reassuring, "status quo" alternative to the radical policy departures of Donald Trump. But in a world of zero rates, low growth, continual war, and increasingly frequent terror attacks, is the status quo truly worth preserving?
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    19 August
    Michael S. McKenna Michael S. McKenna
    Thank you Juhani, and yes, Susan, I can certainly see the other side of the argument re: Trump but I wonder, were we on a different course,...
    Robo63 Robo63
    Great article Michael! You put my feelings into words better than I could myself. If we want capitalism to prevail the establishment has to go.
    Michael S. McKenna Michael S. McKenna
    Thanks Robo63, I too feel like we are on a bad path.
  • Video / 12 August 2016 at 13:48 GMT

    Saudi sends shorts running for cover: Hansen

    Ole Hansen
    This week has been a rollercoaster ride in the oil markets, according to Saxo Bank head of commodity strategy Ole Hansen.

    Monthly reports from EIA, IEA and Opec point towards continued delay in the rebalancing process and oil markets are unlikely to find balance until 2017. However, markets started to recover because of a verbal intervention from Saudi Arabia. This may weed out the short positions in the market.
    watch video
  • Squawk / 06 August 2016 at 8:57 GMT
    Senior Analyst /
    Saint Vincent and the Grenadines
    Weekly Trading Forecasts on Major Pairs (August 8 - 12, 2016)

    Dominant bias: Bearish
    This pair could not sustain the bullish run it started in the last week of July 2016. Price made a faint bullish effort on Monday and Tuesday, went briefly above the resistance line at 1.1200, reached the weekly high of 1.1231, and then declined 180 pips, to close above the resistance line at 1.1050 (which was tested before the close of the market). Since the bias on the market is bearish, further decline is possible, which may take price towards the support lines at 1.1050 and 1.1000; even if there would be a brief reversal following that. For the support line at 1.1000 to be broken to the downside, there is a need for very strong bearish pressures.

    Dominant bias: Bearish
    Although USDCHF has gone upwards 180 pips since last Wednesday, bears are still very active in the market.

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