News In the Spotlight

STARTRADER Weekly Update | OPEC+ Agreement Commenced a Voluntary Cut in Oil Production

On May 1, numerous countries involved in the OPEC+ agreement commenced a voluntary cut in oil production. The reduction in production will persist until the end of 2023, resulting in a total decrease of 1.66 million barrels per day. Consequently, the prices of crude oil futures contracts have fallen to levels of $76.60 per barrel. It is possible that markets will remain subdued this week, with traders awaiting the outcome of the US Federal Reserve meeting on May 3rd. The Fed is highly anticipated to raise interest rates by 25 basis points.

This material provides real-time market analysis from contributing analysts. Please note that any views expressed in this material do not constitute operational advice. It is important to assess your risk tolerance and make independent trading decisions. STARTRADER holds no responsibility for any trading consequences that may arise from relying on the views expressed in this material.

Designer

Recent Posts

What is MetaTrader 4 – Everything You Need to Know

MetaTrader 4, commonly abbreviated as MT4, is one of the most popular and widely used…

3 hours ago

Market Closure in December

Dear Valued Clients, Please be advised that the following instruments' trading hours and market session…

4 days ago

Market Recap | 19-Dec-2024

https://youtu.be/nC7s5cO7Xl8 Gold prices (XAU/USD) have recovered modestly from a one-month low near $2,583-$2,584 touched during…

4 days ago

Monday’s Market Update | 16-Dec-2024

https://youtu.be/ZlrmvoOvDd4 Gold prices (XAU/USD) are struggling to maintain a modest rebound after touching a one-week…

1 week ago

Market Closure in December

Dear Valued Clients, Please be advised that the following instruments' trading hours and market session…

2 weeks ago

Announcement on Recent Gold Spread Fluctuations

Dear Valued Clients, The global gold market has experienced significant volatility recently, with market liquidity…

2 weeks ago

This website uses cookies.