05.06.2015 - Today will be held a meeting of OPEC

The price of gold continues to decline due to the strengthening of the US dollar after the release of positive statistics on initial unemployment claims in the country, which fell to 276 thousand vs. anticipated 280 thousand. The publication of the report the IMF, which has lowered the forecast for US economic growth to 2.5% this year against a previous estimate of 3.1% increase, could not change the mood of investors. In addition, the IMF expects the Fed raising interest rates until the first half of 2016. Today, we are waiting for the increased activity of investors in connection with the release of an important report on the labor market in the US (12:30 GMT), which will affect the expectations of the timing of monetary tightening by the Fed. Our medium-term outlook for gold remains positive, but its price is likely to fall in the near future.

The price of Light Sweet crude oil has continued to decline due to the strengthening of the US dollar, as well as on the expectation of the results of today's meeting of OPEC. According to our forecast, oil production quotas will remain at the same level, but the increase in volatility can be caused by the statements of the representatives of the cartel members. US crude oil stocks continue to decline, but the rate of decline remained minimal. We expect that after the meeting of OPEC in the focus of investors will be lifting of sanctions on oil exports against Iran. Our medium-term outlook for oil remains negative despite the seasonal increase in demand for oil. It is also recommended to keep the short positions with the targets of around 52 dollars per barrel.

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.