TODAY.AZ / Business

Brent prices can rise rapidly - forecast

12 March 2019 [10:51] - TODAY.AZ

By  Trend

The Brent oil has risen in price to $66, and if it strengthens its position to $66.32, then a rise in price to $67.69 is possible, Trend reports referring to the Azerbaijani investment company InvestAZ.

According to the company analysts, the statistics on US oil reserves, released this week on Wednesday, March 13, 2019 at 18:30, will have a strong impact on the value of "black gold".

InvestAZ also provided forecasts for gold and rates for several currencies.

In particular, according to the euro, analysts of the company note that after the decision of the European Central Bank to prolong the policy of increasing interest rates and lowering economic forecasts, the euro dropped to $1.12.

Based on the analysis, if the trade for the exchange rate of 1.12 on the international stock exchanges continues going downward to 1.1175, then the rate may, as a result, drop to 1.1119. In addition, the main indicators for investors in connection with inflation in the Eurozone will be announced on Friday, March 15, 2019 at 14:00 Baku time (GMT+4).

British pound sterling continues to trade, falling to the $1.3 mark. According to forecasts, after long trades, the rate may drop to $1.29. In addition, the UK Parliament will vote on 3 decisions relating to Brexit in the coming days, the results of which can lead to great unrest in the financial markets.

As for the Turkish lira, as company analysts note, after the dollar went up significantly – to 5.49 lira – in the Turkish foreign exchange markets, the rate was adjusted to 5.44 liras. If it strengthens to 5.46, then a rise back to 5.49 liras and even to 5.54 liras is possible.

The meeting minutes for the meeting of the Central Bank of Turkey, which will be held on Wednesday, March 13, 2019 at 15:00, are expected with great interest.

Gold prices rose again in the precious metals market. If the price strengthens to the level of $1,297 per ounce ($41.7 per gram), then an increase to $1,312 ($42.2 per gram) is possible.


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