Oil prices slumped after OPEC+ decided to raise output. Downbeat sentiment prevails as WTI struggles to achieve a higher high. The recent rebound came to a halt at 101.80 next to the 30-day moving average. Read more…
Gold softens as US Treasury yields bounce over solid economic data. The price hit resistance at 1790 which used to be a critical floor on the daily chart. Sentiment has remained cautious after its breakout Read more…
The US dollar clawed back losses as services PMI exceeded expectations. A bullish RSI divergence indicates a loss of momentum in the sell-off. The pair bounced off the demand zone around 130.50 at the start Read more…
USD/JPY: On the H4, price is bearish biased and moving strongly in an ascending trendline. It is still respecting the Ichimoku indicator, and has confirmed a strong downside momentum. It is now going to test Read more…
Daily Pivots: (S1) 1.2096; (P) 1.2152; (R1) 1.2203; More… GBP/USD is staying in range below 1.2292 and intraday bias remains neutral first. Further rise could be seen as long as 1.2062 minor support holds. Above Read more…
Aussie and Kiwi firm up mildly in Asian session, following the rebound in risk markets. But overall, the currency markets are rather quiet, with major pairs and crosses stuck inside last week’s range. Traders are Read more…
BoE is expected raise interest rate by 50bps to 1.75% today. That would be the largest rate hike since 1995, while interest rate will then be at the highest level since 2008. The voting will Read more…
Minneapolis Fed President Neel Kashkari said yesterday that Fed moved too slowly in 2021 in tackling high inflation. He’s concerned that inflation is pulling wages up and there are risks of going into a wage-driven Read more…
Key Highlights Crude oil price started a fresh decline from the $103.50 resistance. A key bearish trend line is forming with resistance near $100.20 on the 4-hours chart. EUR/USD struggled to clear 1.0280 and started Read more…
Oil prices are on the verge of breaking below strong previous support at the 93.00 level… It’s been a topsy-turvy day in the oil market as traders weigh conflicting news on supply. First, traders were Read more…