This is what you need to know to trade today Monday June 27: The dollar index remains relatively calm near 104.00 in the early hours of Monday, after closing the previous week slightly lower. US stock index futures are trading flat on the day as attention turns to May’s durable goods orders data. Pending home […]
Tag: Commodities
Ecuador: Oil production could stop completely in 48 hours – Minister of Energy
Ecuador’s Energy Minister, Xavier Vera-Grunauer, warned on Sunday that oil production has reached a “critical” level and could come to a complete halt within 48 hours if protests and roadblocks continue. Featured Comments “Oil production is at a critical level“. “If this situation continues, the country’s oil production will be suspended in less than 48 […]
Gold Forecast: XAU/USD rises from weekly lows towards $1,825
Gold is headed for a second straight week of losses, down 0.64% despite rising on Friday. The 10-year TIPS (Treasury Inflation-Protected Securities) decline and US dollar weakness are a tailwind for gold prices. Gold Price Forecast (XAUUSD): Gold has a neutral-bearish bias. Gold (XAUUSD) bounces off weekly lows near $1,816, making up some ground on […]
Silver Price Analysis: XAG/USD Rebounds from Multi-Week Lows
Silver fell to a six-week low on Friday, confirming a bearish break below $21.00. Any significant rally attempts could be seen as a selling opportunity and remain limited. XAG/USD now looks vulnerable to weaken further below the $20.00 psychological level. the silver reversed a sharp drop to a six-week low and was last seen posting […]
Forex Today: Markets turn quiet ahead of US mid-level data.
This is what you need to know to trade today Friday June 24: Major currency pairs trade in relatively tight ranges throughout the week as investors try to figure out how central banks will continue to fight inflation in the face of heightened risks of a recession. German IFO business sentiment data will be released […]
WTI Price Analysis: Picking up but not out of the woods yet
WTI price remains vulnerable amid fears of an inevitable global recession. The large API crude stockpile and Biden’s suspension of the federal gasoline tax weigh on oil. Any rebound in WTI will likely be sold as bears keep their eyes on $100. WTI (NYMEX futures) is reversing a decline to the $101 level as the […]
Germany: From now on gas is scarce in the country – Robert Habeck
German Economics Minister Robert Habeck declared on Thursday that from now on gas is scarce in the country. Additional comments The current situation should not lull us into a false sense of security. Now we are asked to reduce gas consumption, ahead of winter. He wants to underline that this situation was always a threat. […]
Germany enters the second phase of the emergency plan for gas – Ministry of Economy
The Ministry of Economy declared on Thursday the second phase of the emergency plan for gas due to the cut off from Russia and high prices. Additional comments The Government will not activate the clause that allows companies to pass on price increases at this time. Security of supply is currently guaranteed, but the situation […]
Forex Today: Recession Fears Weigh on Sentiment, Spotlight on US PMI and Powell Testimony
This is what you need to know to trade today Thursday June 23: Markets remain risk averse on Thursday as investors are increasingly worried about a global recession. US stock index futures and major European equity indices push lower in European morning and the dollar continues to find demand as a safe haven. Later in […]
Silver Price Analysis: XAG/USD near 1-week lows, looks vulnerable to further decline
The price of silver falls for the second day in a row and again approaches the low of a week. The situation remains favorable to the bears and supports the prospects for further losses. Sustained strength above $22.00 is needed to negate short-term negative outlooks. Silver price is unable to take advantage of the previous […]
