Saudi’s “Oil Deal” to be extended 6 months? Here are today’s Highlights!

May 9, 2017

Today's Highlights | 09.05.2017 by FXGiants.

Saudi’s “Oil Deal” to be extended 6 months? Here are today’s Highlights!

This article is originally referred from FXGiants News

Saudi Arabia says the November oil deal can be extended beyond 2017. The Saudi oil minister said that the oil deal could be extended for more than 6 months.

There seems to be an unofficial consensus among producers that the deal will be extended for at least 6 months. Thus, bullish signals for oil prices in the next days would be any fresh comments suggesting extensions for a longer time period, or deeper production cuts.

Aussie slides after soft retail sales data. AUD came under renewed selling interest overnight, after the nation’s retail sales data missed their forecasts.

The currency’s outlook remains negative, amid rapidly falling iron ore prices.

Today’s highlights:

Germany: Trade balance data for March (06:00 GMT), but usually not a major market mover.

US: NFIB small business optimism for April (10:00 GMT) and JOLTS job openings for March (14:00 GMT).

Canada: Building permits for March (12:30 GMT) are expected to have risen, a rebound.

Speakers: Minneapolis Fed President Neel Kashkari (13:00 GMT).

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Original Source: FXGiants News

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