Oil prices are likely to rebound firmly as IEA has stepped up demand forecasts. Substitution of natural gas to oil ahead of Winters is strengthening the black gold. Trimmed odds for Fed’s hawkish guidance are also supporting oil prices. West Texas Intermediate (WTI), futures on NYMEX, has witnessed a minor pullback to near $93.00 after printing… Read More »
WTI retreats from one-week high, probes two-day uptrend. OPEC, EIA anticipate world energy demand to ease in 2022, and increase next year. Mixed sentiment, light calendar could restrict short-term moves. US Michigan Consumer Sentiment Index eyed for clear directions. WTI crude oil prices remain sidelined at around $93.30-35 during Friday’s Asian session, pausing a two-day… Read More »
USD/CAD extended its losses for the second straight day as sellers eye a break of the 200-DMA. July’s US inflation reports show signs of peaking, with CPI at 9% YoY and PPI at 10% YoY, below their previous month’s readings. Traders’ focus shifts toward the University of Michigan Consumer Sentiment and Inflation Expectations. The USD/CAD… Read More »
Here is what you need to know on Thursday, August 11: Equities Looks like the rally may be finally running out of steam as gains are harder to come by this morning. No surprise as the Nasdaq is up over 20% from its low. People are streaming but not dating if the latest results from… Read More »
SPY ETF continues to rally as benign CPI reports file more risk. Will the Fed agree that bond markets remain calm as volatility drops? Fed on summer holidays, so no rate decision until September. Equity markets continued to rally on Wednesday as a benign CPI report helped further fuel hopes for a dovish Fed pivot and a… Read More »
The 200-period EMA is acting as a major barricade for the counter. A bullish flag formation adds to the upside filters. The RSI (14) is attempting a break above 60.00, which will strengthen the oil bulls. West Texas Intermediate (WTI), futures on NYMEX, is displaying back and forth moves in a narrow range of $90.68-91.34… Read More »
Asian equities have soared while Nikkei225 has pathways and has eased 0.65%. Signs of exhaustion in the inflation rate have cheered the risk-perceived assets. Oil prices have surpassed $90.00 despite a buildup of oil inventories last week. Markets in the Asian domain have jumped sharply as investors’ risk appetite has improved dramatically after a soft… Read More »
EUR/USD has tumbled to near 1.2850 amid a significant recovery in the DXY. A lower US CPI print has trimmed the odds of hawkish guidance while rate hike odds are solid. This week, the US Michigan CSI data will be of utmost importance. The EUR/USD pair has declined gradually to near 1.2850 after surrendering the… Read More »
USD/CAD bounces off two-month low as US dollar licks post-inflation wounds. Headlines surrounding China, Fedspeak favors DXY’s corrective pullback. WTI crude oil grinds higher ahead of OPEC, IEA demand forecasts. US PPI, risk catalysts could entertain traders amid a light calendar. USD/CAD picks up bids to refresh intraday high near 1.2785 as traders lick US… Read More »
WTI crude oil struggles to keep the US inflation-linked bullish bias. Resumption of Russian oil pipeline flows after six-day halt challenges US CPI-led advances. EIA inventory build, Fedspeak and challenges to risk profile also exert downside pressure on the oil prices. Monthly demand forecasts from OPEC, IEA will be important for immediate direction. WTI crude… Read More »
