All Articles Tagged - WTI

Technical Analysis – WTI futures stands below 7-year high and 90.00

Posted on February 10, 2022 at 8:16 am GMT

WTI crude oil futures are struggling to gain positive momentum after their pullback off the seven-year high of 93.15. The downside reversal in the RSI and the slowdown in the MACD justify the diminishing buying pressure, though both remain well above their neutral thresholds keeping the short-term risk skewed to the upside. In trend indicators, the bullish cross between 20- and 50-day simple moving averages (SMAs) is still an encouraging signal. Should selling forces strengthen, the Fibonacci retracement levels of the [..]

US Open Note – Market in a volatile day; dollar surges to more than 1 ½ -year high

Posted on January 28, 2022 at 1:55 pm GMT

PCE price index ticks up; Rates in US rise December’s PCE data came into focus today from investors. The core PCE price index rose from 4.8% to 4.9% year-on-year. Currently, it is the highest since September 1983 and well above the Fed’s 2% goal rate. Personal income and spending also came in at 0.3% and -0.6% m/m respectively. Because of the widespread distribution of the omicron variety, retail sales and consumption decreased in December of last year. Rates in the United States are rising, [..]

US Open Note – Dollar surges ahead of FOMC decision; stocks back in positive ground

Posted on January 26, 2022 at 1:54 pm GMT

Markets are gradually stabilizing, despite the fact that Russia-Ukraine tensions remain high. The two-day FOMC meeting concludes this afternoon. FOMC meeting ends today The Fed is widely expected to keep a hawkish stance as it prepares the market for a rate lift-off on March 15-16. This year’s three quarterly rate increases have already been factored into the market. In the absence of any new macro projections or Dot Plots, we expect Fed Chair Powell to make a very clear message [..]

US Open Note – Market awaits FOMC meeting, keeps an eye on Ukraine crisis

Posted on January 25, 2022 at 1:52 pm GMT

FOMC minutes attract attention The two-day FOMC meeting begins today and concludes tomorrow with a decision as the global economy is feeling the pain of omicron variant. The Federal Reserve is widely expected to maintain its hawkish stance as it prepares the market for liftoff at its next meeting. Anyone hoping for some form of Fed Put this week will likely be disappointed. The Federal Reserve’s top aim right now is to keep inflation under control. Because the economy is on the verge of reaching full employment and inflation [..]

US Open Note – Dollar eases ahead of FOMC minutes

Posted on January 5, 2022 at 1:27 pm GMT

Investors are expecting the release of the FOMC minutes and, more crucially, the release of non-farm payrolls in the US later this week. Following a robust surge in government bond yields, the yen has remained the currency with the worst performance for the time being. The pound has managed to outperform the euro. Although the dollar is the second strongest currency, it is still stuck in a range, except against the yen. FX market view and FOMC minutes expectation The dollar is weakening ahead of the ADP employment [..]

US Open Note – Dollar hits five-year high against yen; OPEC next on the radar

Posted on January 4, 2022 at 1:45 pm GMT

Omicron virus does not affect economic recovery Despite concerns about the extremely contagious omicron virus subtype, investors are focusing on the economic recovery from the pandemic and central bank’s plans for stimulus reduction at this time. In the FX market, the focus today is on dollar/yen, which surged to a new five-year high of 116.33 as risk-on sentiment pressed safe-haven currencies such as the yen. It may be difficult for sellers to reverse the trend. The BOJ will stay the most dovish, so the weak [..]

Weekly Comment – US jobs and PMI data eyed as Omicron cases surge

Posted on December 30, 2021 at 2:47 pm GMT

Stocks staged a post-Christmas rally, reaching new highs amid thin trading volumes. Meanwhile, the Japanese yen has emerged as the undisputed loser in the FX arena, as Omicron fears ease, prompting traders to shift into riskier assets. In the upcoming week, the latest US employment data and FOMC minutes take center stage, together with a raft of PMI data from most major economies and European flash inflation figures. Highlights: Final Manufacturing PMI data for the Eurozone, US, UK, Japan and [..]

Technical Analysis – WTI futures plummet as negative momentum prevails

Posted on December 21, 2021 at 8:40 am GMT

WTI oil futures (February 2022 delivery) have been giving up ground since early November but managed to post a moderate recovery after the price encountered strong support at the four-month low of 62.25. However, in the short term, the commodity experienced a sharp dip, which was partially offset by a minor upside correction in the last few sessions. This near-term rebound is more likely to come short as the short-term oscillators indicate an imminent bearish momentum for the commodity. The [..]

US Open Note – Quiet day ahead of raft of central bank meetings

Posted on December 13, 2021 at 2:02 pm GMT

It’s a relatively quiet start to the week before the expected onslaught of central bank meetings that will take place this week. On Monday, US futures gained along with European stocks as traders braced for a week of central bank decisions amid fears about inflation and the omicron virus. Fed, ECB and BoE meetings in the spotlight this week The Federal Reserve is anticipated to accelerate its stimulus withdrawal on Wednesday and could pave the way for quicker interest rate hikes in 2022 if price pressures remain around a [..]

US Open Note – Markets dive as new Covid variant identified

Posted on November 26, 2021 at 1:57 pm GMT

FX market is bleeding due to new variant; yen shines After the discovery of a new and possibly vaccine-resistant coronavirus variant in South Africa, Botswana, and Hong Kong, the FX market is posting strong losses and US stock futures are indicating a negative open. Flights from South Africa and other nearby countries have already been temporarily banned by Britain, which was followed by Israel and Singapore, and could lead to similar bans in other countries. The introduction of the new variant comes at a time when different European countries are coping [..]

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