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Oil, Crude, trading

The prices of US crude oil futures contracts declined significantly by the end of last week’s trading within the expected downward path, touching the official target of the last report, which is at 70.30, recording its lowest level at $70.30 per barrel. Technically, by looking at the 4-hour chart, we …

Gold prices were able to touch the official targets during the technical report issued last Friday at the price of 1805, recording its highest level of $1806 per ounce. Technically, gold prices started their weekly trading on a bearish slope as a result of the rise of the US dollar …

Trading tended to be positive, dominating the movements of the euro-dollar pair within the expected bullish context at the end of last week’s trading, approaching the resistance level of the psychological barrier 1.0600, which formed a strong resistance level that forced the pair to retest 1.0515. Technically, the pair is …

The dollar rose against the euro on Friday after US producer price data for November came in slightly higher than expected, casting doubt on whether the Federal Reserve will slow down the pace of interest rate hikes at its meeting next week. The data showed US producer prices rose 0.3 …

Bank of England to hike rates by 50 bps, fresh forecasts coming up. Concerns about a global economic setback weighed on US indexes. The GBP/USD pair is trading at 1.2265 at the time of writing.The GBP/USD pair peaked at 1.2321 after Wall Street’s opening but trimmed intraday gains and hovers …

EU member states and the G7 nations started applying their price cap on Russian oil prices, constituting a fresh factor why crude prices fell to fresh lows.The EU Commission President Von der Leyen anticipated more sanctions ahead and WTI trades near a weekly low of $70.97 per barrel, the lowest …

Earlier this week, Apple announced that it will offer end-to-end encryption for most material its users save on the iCloud storage service. The news means only an authorized device held by an authorized user will be able to access the content of the famous cloud storageThe new feature will protect …

Previewing the FOMC’s December policy meeting, Rabobank analysts said they expect the US central bank to hike the policy rate by 50 basis points and see policymakers revising the terminal rate projection to the neighbourhood of 5%.Key Quotes“We expect that Powell will continue to push back against rate cuts in …

The Russian President Vladimir Putin said on Friday that Russia will not sustain losses from oil price caps. Putin noted that “if consumer defines oil prices, this will lead to a collapse of the oil industry”, adding that this will lead to rising prices, this proposal is stupid.Crude oil prices …