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Brent could visit the $52.00 mark – Danske Bank

FXStreet (Edinburgh) - In the opinion of Senior Analyst Flemming Nielsen at Danske Bank, markets’ attention remains on the Iran-P5+1 meeting and its implications for the crude oil prices.

Key Quotes

“Today is also the deadline for reaching a deal between the so-called P5+1 and Iran: while a permanent lifting of sanctions is not in the cards, a less harsh Western stance on sanctions could fuel speculation that some of the significant amounts of Iranian oil currently in storage could be released to an already very well-supplied market”.

“In our view, the arrow is down for oil in the near term notwithstanding the Yemen-Saudi unrest which for now has little potential to disrupt global oil supplies”.

“For Brent, a test of mid-March lows of close to USD52/bbl could be seen and this could drag EUR/USD down with it”.

Key events ahead: Deadline for Iran negotiations, Eurozone inflation – Danske

Senior Analyst at Danske Bank, Flemming J. Nielsen, previews the key events and data releases for the day – Eurozone HICP inflation and unemployment data, US consumer confidence, and the deadline for reaching an agreement on limiting Iran’s nuclear programme.
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China: more measures to attain the 7% growth target – ING

Tim Condon, Head of Research & Chief Economist, Asia at ING, believes that hitting the 7% growth target requires reducing the drag from residential property, and hence expects more micro and macro policy stimulus in China.
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