OPEC stabilises fall in oil prices on low level, high-sulphur petcoke stabilises with higher discounts to coal adding support

摘要

The euro (US$1.1380) continued to be pressured from tension in Italy, rising tensions in France and the UK Brexit uncertainty. It is testing the support at US$1,125, which if broken will lead to a fall to US$1.10. Its range remains the same as last month's forecasts. CemReview (CR) remains bullish in its long-term view but forecasts a range of US$1.12-1.16. The Turkish lira seems to have reached its support, and TRY5.20-5.30 is expected to be the low for the US$ after the steep recovery. An exchange rate of TRY5.20-5.60 to the dollar is expected.