WTI crude oil is trading at $80.415 per barrel, at the time of writing, while Brent cruse is trading at 84.66 per barrel. Trading, by definition, is a short-term endeavour. Although it may feel like a very long time when traders are watching and waiting for a move, positions are …
Read More »Market Drivers – US Session 03/04/2023
On Monday, OPEC+ surprised the markets by substantially raising crude oil prices, yet Wall Street continued to advance. The regular suspects will once again be the focus on Tuesday. The Reserve Bank of Australia (RBA) will hold its monetary policy meeting, while the Eurozone’s February Producer Price Index will provide …
Read More »Yellen: OPEC+ oil cut will add uncertainty to global growth outlook
According to US Treasury Secretary Janet Yellen, on Monday, “A surprise OPEC+ oil production cut is an ‘unconstructive act’ that will add uncertainty to the global growth outlook and to burdens on consumers at a time of high inflation,” “I think it’s a regrettable action that OPEC decided to take. …
Read More »GBP/USD bulls celebrate US Dollar weakness
With a positive start to the important week, the GBP/USD pair continues to climb. OPEC+ decision, despite driving up oil prices, fails to support the US dollar. The two appear to dismiss criticism of Brexit, pessimistic UK inflation projections, and a strong US dollar.Weaker US data, rates, and declining hawkish …
Read More »USD/CAD declines as CAD strengthens on weaker USD, OPEC’s decision
The Canadian Dollar strengthened as a result of a lack of oil supply and a weak US Dollar, pushing the USD/CAD pair south of the 100-day EMA. After reaching a daily high of 1.3536, the USD/CAD is currently trading at 1.3450. the pair is down by 0.68 and is trading …
Read More »Market Drivers – US Session 30/03/2023
Oil futures turned bullish on Thursday’s US session, driven by the improvement in risk appetite and the emergence of expectations that OPEC + will keep its production policy unchanged, adopting the same levels of increased production. US oil futures rose to $74.24 a barrel, compared to the previous daily closing …
Read More »WTI advances on sentiment improvement as Saudi-Russia talks easing fears
WTI crude oil is making gains after dropping 5% on Wednesday as a result of a risk-off impulse. As a result of the Swiss government supporting Credit Suisse, market sentiment improved.The American crude oil benchmark, supported by a risk-on impulse, recovers after falling to a 15-month low at about 65.72. …
Read More »Energy Agency: Resuming China’s activities, air transport recovery increase oil demand
The International Energy Agency said on Wednesday that global oil demand is rising slowly, but is about to receive a significant boost, thanks to the resumption of air traffic and the resumption of economic activities in China after the lifting of restrictions related to Covid-19. “Global oil demand growth started …
Read More »Financial Markets’ Weekly Recap, 13-17 Jan
The US dollar achieved strong gains in the last trading week, driven by a series of strong US economic data, with the markets increasing expectations that the US Federal Reserve will continue its tightening approach. In terms of weekly trading, the US dollar recorded a strong rise in today’s trading, …
Read More »Noor Capital | Interview with Mohammed Hashad on Dubai TV – February 13, 2023
Mohammed Hashad, Head of Research and Development at Noor Capital and member of the American Association of Technical Analysts, commented on the most important developments in the financial markets during the past trading week, and shed light, in an interview on Dubai TV, on the expectations of US inflation data, …
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