Harga minyak turun untuk sesi kedua berturut-turut pada hari Senin karena produsen AS mulai memulihkan produksi setelah Badai Delta melemah. Sementara pemogokan yang mempengaruhi produksi di Norwegia berakhir. Minyak mentah Brent turun 55 sen, atau 1,3% menjadi $ 42,30 per barel dan US West Texas Intermediate berada di $ 40,08 per barel, turun 52 sen, atau 1,3%.

Front-month prices for both contracts rose more than 9% last week, the biggest weekly gain for Brent since June. But they fell on Friday after Norwegian oil companies struck a wage deal with union officials, ending a strike that had threatened the country.

"We've got good support for Brent and West Texas on the back of some supply concerns," said Michael McCarthy, chief market strategist at CMC Markets in Sydney. "Given the U.S. hurricane season is just getting underway, there's potential for that to keep prices stable."

In the United States, Hurricane Delta, which dealt the biggest blow to U.S. Gulf of Mexico offshore energy production in 15 years, was downgraded to a post-tropical cyclone on Sunday. Workers returned to production platforms on Sunday while Total SA continued to restart its 225,500-barrel-per-day Port Arthur, Texas, refinery on Sunday.

However, Colonial Pipeline, the largest petroleum products pipeline in the United States, shut its main distillate fuel line after the storm disrupted power, the company said Sunday.

The following economic data will be released today (Monday 12-10-2020):

  1. Morning at 6:50 WIB USDJPY will get important sentiment from August period machine order activity data and producer price index data for September. If both of these data show actual figures lower than expected, this means bad for the Japanese economy, then USDJPY has the opportunity to rise, because of the weakening of the Japanese yen. (data released varies).
  2. Next, at 23:00 WIB in the evening, the Governor of the Bank of England (BOE) will speak at an open forum held virtually. If Governor Andrew Bailey gives a more hawkish view, GBPUSD has the potential to strengthen.

The US and Canadian financial markets are closed for their respective national holidays, Columbus Day for the US and Thanksgiving Day for Canada. So there is no important economic data from both countries tonight.

Daily Pick

Today's prediction for the USDJPY pair is a decline, and the recommended OP is SELL at the 105.500 level with a target profit of 10 - 20 points and a stop loss of 5 - 10 points.

  • OP SELL 105,500
  • TP 1 = 105,400
  • TP 2 = 105,300
  • SL 1 = 105,550
  • SL 2 = 105,600

Always prioritize Money Management and Risk Management.

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