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OIL-DEC24

Analysis

Analysis - 4 days ago

Daily Comment – Gold edges up amid Ukraine tensions, stocks and dollar subdued

Gold rebounds as Biden lets Ukraine use long-range missiles on RussiaYen slips again after Ueda offers no clues on December hikeEquities mixed as Trump trade fadesUkraine war escalates as Biden U-turns on missilesThe conflict between Ukraine and Russia took a dangerous turn on Sunday after President Biden gave Kyiv the green light to use long-range US missiles inside Russia.
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Analysis - 1 week agoNeutral

Technical Analysis – WTI oil: Will It break or bounce?

WTI oil futures continue to flatline near a critical support areaBullish trend reversal is a long way above 77.80 WTI oil futures kept their footing above the 67.00-68.00 support region for the third time since the current sideways trajectory began in September. This base has been a strong source of buying in 2021 and 2023 too. Hence, as long as it holds, there’s hope for a bounce back.But excluding the recent green bullish doji candlestick and the oversold signals coming from the Stochasti
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Analysis - 1 week ago

Quick Brief – Are oil prices headed for September’s lows?

Oil prices tumble to a two-week low after Trump’s victoryStronger dollar on Fed pause bets weighTariffs on Chinese goods and demand concerns also driversOil prices fell sharply lately, driven by a cocktail of developments, including a stronger dollar following Donald Trump’s election as the 47th US president, concerns about what that presidency means for China, the world’s largest oil consumer, disappointment about China’s efforts to stimulate the economy, and OPEC’s downside revision
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Analysis - 1 week ago

Markets return to a low-volatility environment after the US election – Volatility Watch

Euro/dollar volatility has eased aggressivelyVolatility has dropped to monthly low in both gold and silverStock indices experience a significant decline in volatilityEuro/dollar volatility has eased significantly, as market participants have reacted favourably to both the outcome of the US presidential election and the absence of the post-election shenanigans seen in 2020. The dollar has strengthened over the past week with the euro suffering the most.
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Analysis - 2 weeks ago

Daily Comment – Positive sentiment lingers despite mixed newsflow

Markets continue to dance to the tune of Trump’s winGold and oil suffer, while bitcoin and equities rallyMinority government in Japan, BoJ mini-minutes unsurprisingEuro under pressure as Germany gets closer to snap electionTrump prepares to take overThe markets continue to digest Trump’s victory and last Thursday's dovish Fed rate cut, with most market participants now speculating on the course of action of the new administration as the president-elect is assembling his cabinet. In this
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Analysis - 2 weeks ago

Daily Comment – Dollar and stocks surge on Trump victory bets

Donald Trump secures key battleground statesDollar rallies as his policies are seen as inflationaryStocks celebrate prospect of tax cuts and deregulationBitcoin hits fresh record high, oil retreatsTrump knocks the White House doorThe dollar skyrocketed during the Asian session today, and it appears to be headed for its biggest one-day gain since March 2020.Following the closing of the election ballots in the US, early signs that former president Donald Trump is likely to return to the White Hous
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Analysis - 2 weeks ago

Volatility remains high as US voters elect a new president – Volatility Watch

Euro/dollar volatility climbs to a new monthly highVolatility remains very elevated in both gold and silverStock indices experience a jump in volatilityEuro/dollar volatility has climbed to a new 30-day high, as market participants are preparing for the US presidential election and Thursday’s Fed meeting. This heightened volatility is being observed across the FX space, including in the yen pairs.
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Analysis - 3 weeks agoBearish

Technical Analysis – WTI crude oil recoups bearish gap

WTI crude oil runs to 71.00 critical level near downtrend lineMomentum oscillators reflect positive biasWTI crude oil prices recovered the bearish gap that was created in the preceding week and is currently testing the medium-term downtrend line near 71.00.The price has added more than 6% over the last couple of days with the technical oscillators mirroring the latest upward wave.
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Analysis - 3 weeks ago

Quick Brief - Oil prices rebound after unexpected drop in gasoline stockpiles

US gasoline stockpiles drop to a two-year lowOPEC+ could delay a planned production increaseChinese manufacturing PMI also a helping handOil prices rebounded on Thursday, perhaps buoyed by demand optimism in the US after gasoline stockpiles dropped unexpectedly to a two-year low last week, according to the Energy Information Administration (EIA).What may have also encouraged investors to buy more oil were reports that OPEC and its major allies, known as the OPEC+ group, could delay a planned pro
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Analysis - 3 weeks ago

Volatility jumps as markets prepare for action-packed period – Volatility Watch

Euro/dollar volatility climbs to a new monthly highVolatility remains very elevated in both gold and silverStock indices continue to experience average volatility Euro/dollar volatility continues to increase, achieving a new 30-day high, as the markets are preparing for Friday’s jobs report, and next week’s US presidential election and the Fed meeting.
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Analysis - 3 weeks ago

Daily Comment – Dollar maintains gains amidst fragile market conditions

Markets prepare for a 10-day long rollercoaster rideFocus today on earnings but key US data in sightGold and bitcoin rally, oil suffers, and 10-year US yield reaches 4.3%Yen suffering might linger as party negotiations continueImportant data week, Alphabet reports todayMarket participants are gradually preparing for an action-packed week, with Friday’s US jobs report being the key event, that also includes some major earnings releases.
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Analysis - 4 weeks ago

Daily Comment – Oil slumps after Israel’s attack; yen slips on Japan election shock

Oil and gold slide as Israel shows restraint in retaliatory strike on IranYen under pressure after LDP party loses majority in snap electionTrump poll boost keeps dollar firm as crucial US data week awaitsIsrael strikes back at Iran, but relief on measured attackOil prices tumbled as trading got underway on Monday, opening with a gap down as investors responded to Israel’s retaliatory attack against Iran on Saturday.
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Analysis - 4 weeks agoBullish

Technical Analysis – WTI crude oil meets downtrend line again

WTI crude oil surpasses 20- and 50-day SMAsTechnical oscillators are mixedWTI crude oil futures are experiencing a new bullish wave, meeting the medium-term descending trend line again near the 73.00 level after the significant rebound off the 68.90 support level.Technically, the MACD oscillator is moving horizontally still beneath its trigger and zero lines; however, the stochastic oscillator is climbing above the 80 level, confirming the upside momentum in the market.
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Analysis - 4 weeks ago

US elections update: The race to the White House tightens

Trump closes in on Harris’s lead in the pollsNeck and neck race spurs market jittersOutcome still hinges on battleground statesTrump narrows the gapThe time for Americans to vote for a new president is drawing ever closer, but who will win on November 5 is looking a lot less certain now than it did when Vice President Kamala Harris entered the race.
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Analysis - 4 weeks agoNeutral

Volatility remains elevated in FX space and commodities – Volatility Watch

Euro/dollar volatility reaches new 30-day highVolatility in both gold and silver jumpsStock indices continue to experience average volatilityEuro/dollar volatility has climbed to the highest level of the past month, as the ECB delivered its much-expected rate cut and the discussion about the November Fed meeting is underway. But more importantly, the market is preparing for the November 5 US presidential election.
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