OPEC Extends Production Cuts in Response to Falling Oil Prices

View this email online. OPEC Extends Production Cuts in Response to Falling Oil Prices The Organisation for Petroleum Exporting Countries and its allies, otherwise known as OPEC +, decided to extend their existing production cuts when officials met on Sunday. READ MORE Market Analysis A week full of potential volatility with the ECB policy meeting and the latest US Jobs Report the highlights for traders looking for volatility. READ MORE   The UK manufacturing sector experienced a resurgence in May, with output expanding at the fastest rate in over two years, driven by an influx of new orders. READ MORE   The US dollar turned lower after the ISM release with the US dollar breaking through 38.2% Fibonacci retracement support at 104.37 and through the 200-day simple moving average.  READ MORE It was pointed out that a breach of support located around $2,335 could serve as a technical signal for a bearish continuation. READ MORE The ISM manufacturing index plays an important role in forex trading, with ISM data influencing currency prices globally. READ MORE The European Central Bank is different to other central banks in that it controls monetary policy for the entire eurozone. READ MORE Trading Skills Enhancement TRADING EDUCATION Learn to trade with DailyFX and take your trading knowledge and confidence to the next level. Whatever your trading experience is, our expert analysts and market writers can help you navigate a range of market conditions and trading styles, setting you on the road to consistent trading. Our online education is divided into three sections according to experience level   LEARN MORE TRADING TOOLS View current trader sentiment and discover who is going long and short, the percentage change over time, and whether market signals are bullish or bearish with IG Client Sentiment.   LEARN MORE Use our economic calendar to explore key global events on the horizon that could subtly shift or substantially shake up the financial markets.   LEARN MORE CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. Kind regards DailyFX dailyfx.com Cannon Bridge House, 25 Dowgate Hill, London, United Kingdom, EC4R 2YA. Trading financial instruments, including leveraged foreign currencies, carries a high degree of risk and your losses may exceed your deposits. Trading is not suitable for all. You should carefully consider whether trading is right for you in light of your investment experience and financial resources. Past performance is not indicative of future results. This commentary is for general informational purposes and does not constitute advice or a solicitation. While DailyFX has taken reasonable measures to verify the accuracy of the information herein, DailyFX makes no guarantee as to its accuracy or completeness. This information is subject to change at any time without notice. DailyFX is not liable for any loss or damage which may arise from the use of any information in this commentary. Please read the full Risk Disclosure, as well as our Privacy Policy. You received this email because of your relationship with DailyFX. To manage your preferences or unsubscribe from our marketing communications click here.   © 2024 IG