04.12.2015 - Today will be a meeting of OPEC

The price of gold corrected upwards yesterday in connection with the fall of the US dollar after the announcement of the ECB on monetary policy. Thus, the program of quantitative easing in the euro area continued until March 2017, but the monthly volume of purchases has remained at around 60 billion euros. Analysts predicted increase in the volume of purchases by 15 billion euros. Today, in the focus will be very important report on the labor market in the US (13:30 GMT). Strong employment data will be the basis for the Fed raising interest rates at the meeting on 15-16 December. We expect the decline in gold in the near future.

The price of Light Sweet crude oil rose yesterday amid the weakening of the US dollar after the statement of the ECB on monetary policy. It should be noted that on the market appeared news about a possible proposal from Saudi Arabia to reduce oil production quotas by 1 million barrels in 2016 against the current 30 million barrels, if other countries that are not in OPEC will also lower production levels, but this option is unlikely. We recall that today will be OPEC meeting in Vienna, and the statement of cartel will cause a strong price movement in one direction or another. We maintain a negative medium-term outlook for oil.

RISK WARNING: Trading of complex financial products, such as Stocks, Futures, Foreign Exchange ("Forex"), Contracts for Difference ("CFDs"), Indices, Options, or other financial derivatives, on "margin" carries a high level of risk, and may not be suitable for all investors. The possibility exists that you could sustain a loss of some or all of your initial investment and, therefore, you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading these markets, and seek advice from an independent financial advisor if you have any questions or doubts. Please carefully read our full "Risk Disclosure" and "Risk Disclosures for Financial Instruments & Investment Services". FXFINPRO Capital is the trading name of PFX Financial Professionals Limited, a limited liability company formed under the laws of Cyprus, registered with the Registrar of Companies in Nicosia, Cyprus, under nr. HE 237840 and regulated by the Cyprus Securities and Exchange Commission with license number 193/13.