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Technical Tuesday: Markets await direction

In this week’s edition, we are getting technical on USD/JPY, DAX and WTI crude oil

Energy

Crude oil takes another plunge

This time on report that the OPEC+ to discuss production hike by 500K bpd

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November 21, 2022 11:00 AM
Research

USD to regain strength after hawkish Fed comments?

The dollar caught a bid following hawkish comments from two Fed members late in the US session, which leaves the potential for a follow-through today.

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November 17, 2022 11:49 PM

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Oil extraction

WTI falls as demand concerns intensify

Oil investors' focus is turning back to the demand side of things and in particular China...

Energy

WTI’s trend break more good news re inflation

...after CPI came in much weaker

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November 10, 2022 12:42 PM
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GBP spikes on reports the BOE may extend bond purchases

The BOE have now done two U-turns within 24hrs, by first cancelling their bond buying programme but then signalling behind closed door they may extend it.

Close-up of Union Jack flag

GBP spikes on reports the BOE may extend bond purchases

The BOE have now done two U-turns within 24hrs, by first cancelling their bond buying programme but then signalling behind closed door they may extend it.

Close-up of market chart

European Open: DAX to extend its countertrend bounce? OPEC in focus

Whilst futures markets point towards a retracement against yesterday’s gains across European cash markets, we’re looking for support to hold and break above yesterday’s highs.

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October 5, 2022 12:49 AM
Close-up of market chart

European Open: DAX to extend its countertrend bounce? OPEC in focus

Whilst futures markets point towards a retracement against yesterday’s gains across European cash markets, we’re looking for support to hold and break above yesterday’s highs.

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October 5, 2022 12:49 AM
Oil rig in the sea

OPEC+ Preview: Will 1,000,000 bpd cut it?

If OPEC+ cuts 1,000,000bpd, be careful of a “buy the rumor, sell the fact” trade.

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October 3, 2022 04:13 PM
Oil rig in the sea

OPEC+ Preview: Will 1,000,000 bpd cut it?

If OPEC+ cuts 1,000,000bpd, be careful of a “buy the rumor, sell the fact” trade.

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October 3, 2022 04:13 PM
Research

USD/JPY taps 144, Oil breaks lower, BOC in focus

It’s been a relatively lively session for traders overnight which saw USD/JPY steam ahead above 144 and WTI hit a new cycle low. Next up we have the BOC meeting.

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September 7, 2022 02:10 AM
Currency prices

Canadian GDP weaker than expected. USD/CAD following oil on shorter timeframes

Will the GDP data matter come the BOC’s interest rate decision meeting next week? It may depend on whether USD/CAD continues to follow the price of oil!

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August 31, 2022 03:23 PM
Oil extraction

Crude oil: WTI reversing yesterday’s surge, OPEC+ on tap next week

With most producers already operating at or above capacity and growing signs that the global economy may be slowing, some reduction of supply is looking increasingly likely in the coming months...

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August 30, 2022 10:42 AM
Oil rig on an grey day

Crude Oil continues bounce on OPEC comments

Comments from OPEC+ officials regarding possible supply cuts are currently outweighing fears of a recession. As a result, the price of WTI Crude Oil is moving higher.

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August 23, 2022 03:22 PM
Oil rig on an grey day

Crude oil drops again with WTI below $90

US crude oil prices could be heading towards low- to mid-$80s.

Oil rig in the sea

WTI lower, but it has little to do with the upcoming OPEC+ meeting

With negative manufacturing data beginning in China and continuing throughout the US session, WTI Crude Oil has been trading lower, down nearly 5% on Monday.

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August 1, 2022 03:04 PM

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Oil extraction

Crude oil off lows after slump

The focus for oil and other investors will turn to the latest Chinese and US data...

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July 14, 2022 12:06 PM

Oil takes a hit as recession and Covid fears loom

The German ZEW and the continued on again/off again lockdowns in China are contributing to fears of a global slowdown or recession.

Oil rig on an grey day

Crude oil plunges as recession fears intensify

WTI has plunged about $10 from the highs to fall below $100 and was still going lower at the time of writing

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July 5, 2022 11:31 AM
Oil rig on an grey day

OPEC preview: Will OPEC+ increase output in August?

When OPEC+ meets later this week, it is unlikely to increase output more than the expected 648,000 bpd.

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June 27, 2022 03:39 PM

ECB and the euro in focus, WTI bulls eye $124

The conclusion of today’s ECB meeting is the only game in town today, which has seen the yen and euro rise against the dollar just hours ahead of it.

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June 9, 2022 12:59 AM
Oil rig on an grey day

OPEC + hikes output more than expected

The rumors are still making the rounds that OPEC+ may suspend Russia and that Saudi Arabia may increase production as price continues to soar.

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June 2, 2022 11:59 AM