Happy and Prosperous Year 2018!!!

Let 2018 be the Year of comfort and unprecedented breakthrough.

May you forget the shame of 2017.

Let success be your slave and financial independence your share.Our wishes extend to your family, your business, to everyone around you and your country.

Do good and make people next to you smile.

** Bonne et Heureuse Année 2018 **  

-Team MBH Progress-

We bring the wealth of the earth to your path.

Price of Gold Fundamental Weekly Forecast – Overextended Rally: Needs Weaker Dollar to Sustain the Move.

The price action in gold this week will once again be controlled by the direction of the U.S. Dollar. The dollar will be largely influenced by President Trump’s State of the Union speech on Tuesday Night.

Gold futures continued to push towards the highs of mid-2016 and threatened to break out to levels not seen since 2013 last week in response to a weaker U.S. Dollar.

Forecast

The price action this week will once again be controlled by the direction of the U.S. Dollar. The dollar will be largely influenced by President Trump’s State of the Union speech on Tuesday, January 30 at 9:00 Eastern (0200 GMT Wednesday). Once again, a weaker dollar will be bullish for gold and a stronger dollar bearish for gold.

Traders should expect Trump to talk about the positives in the economy. This may trigger a strong recovery in the dollar, at least over the short-run. This would be bearish for gold.

The Fed will issue its monetary policy statement on January 31. The central bank is not expected to raise interest rates. Traders will be looking for the Fed’s assessment of the economy, inflation and its outlook for future rate hikes.

Finally, investors will also get the opportunity to react to the latest data on employment in Friday’s U.S. Non-Farm Payrolls report. The headline number is expected to show the economy added 184K jobs in January, up from 148K in December. Average Hourly Earnings are expected to increase 0.3% and the Unemployment Rate is expected to remain at 4.1%.

– FX Empire-

We bring the wealth of the earth to your path.

Oil price forecast: Analysts see WTI averaging $56 in 2018.

 

Expectations of robust oil demand growth and high OPEC and allies’ commitment to the production cuts have prompted analysts to raise again their forecast for oil prices in 2018, and they now see WTI averaging $55.78 per barrel next year.

According to a Reuters poll of 32 analysts and economists on Thursday, WTI is expected to trade at an average $55.78 a barrel in 2018, compared to the previous forecast of $54.78 a barrel in the survey carried out right after OPEC and the non-OPEC producers part of deal extended their agreement through the end of 2018. Back then, analysts cited the extension as a sign that the oil market rebalancing could speed up.

In today’s poll, the experts surveyed by Reuters also raised their average forecast for Brent to $59.88 per barrel next year, up from the previous projection of $58.84 a barrel.

Friday afternoon, WTI Crude was trading at $60.12 and Brent Crude was at $66.87.

Analysts see solid global economic growth supporting high oil demand in 2018, while expectations of strong OPEC and friends’ commitment to the cuts are forecast to support oil prices next year as supply will be relatively tight.

Increased supply from U.S. shale, however, will cap significant oil price gains next year, but concerns over an abrupt supply glut have somewhat abated.

“We see U.S. supply continuing to grow next year but are less concerned about a sudden supply glut re-emerging as rising D&C [drilling and completion] costs will likely slow production growth,” Ashley Petersen at Stratas Advisors told Reuters.

Also on the supply side, outages in Libya and Nigeria, as well as potential new sanctions on Iran, could also tighten the market and lend support to oil prices in 2018, the analysts polled by Reuters say.

Earlier this week, an explosion at a crude oil pipeline feeding Libya’s biggest oil export terminal sent WTI briefly breaking above $60 per barrel on concerns over yet another sudden supply disruption, just as the operator of the Forties Pipeline in the North Sea, Ineos, said on Thursday that it expected to bring the pipeline progressively back to normal rates around new year.

-FX Empire-

We bring the wealth of the earth to your path.

Bitcoin Looking for $12,000, but Time is Running Out!

The cryptomarkets are in good spirits through the weekend, with little negative chatter to break investor confidence, but whether investors will be confident enough to hold on through to the close remains to be see, with the news wires likely to become flooded with Davos chatter at the start of the week.

Bitcoin had a relatively upbeat day on Saturday, enjoying a day without the futures markets, with Bitcoin gaining 3.61% to end the day at $11,493.8, well above Friday’s Cboe Bitcoin futures February contract closing price of $10,980.

Following news hitting the wires late on Friday of the NEM coin theft, there’s been very little negative news to hit the wires over the weekend, leaving Bitcoin free to more than recover last week’s 4.32% decline.

The weekend trends have been telling through the first few weeks of the year, with Bitcoin finding support and pulling the broader markets northwards, though with the February futures contract sitting at sub-$11,000 levels, there will be a testy time going into Monday, with the markets eager to get a sense of what lies ahead for Bitcoin and the broader cryptomarket.

At the time of writing, Bitcoin is up 3.14% to $11,805.77, with Bitcoin hitting an intraday high $11,989.15 in the early part of the morning.

For the day ahead, investors will be cognizant of government chatter at the World Economic Forum in Davos, where there has been news hitting the wires through the weekend of heightened focus on a market that last year had been largely ignored.

Sentiment towards the global economy is positive, so governments and regulators will be eager to address peripheral asset classes such as the cryptomarkets under the disguise of addressing criminal activity.

Bitcoin and the rest of the cryptocurrencies may have been able to brush aside the Davos chatter, but without any major updates from the WEF, the cryptomarkets may need to wait until the start of the week for the news wires to begin feeding through what is likely to be a call for a coordinated global effort to impose some minimum regulatory criteria that may match those that are being introduced by the South Korean government.

-FX Empire_

We bring the wealth of the earth to your path.