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Crude oil testing key level following Saudi price cuts
US crude oil prices were hammered to start the trading week, undermined by news major exporter Saudi Arabia has reduced the price for benchmark Arab Light crude for delivery to Asia to the lowest level since late 2021.
Gold 2024 Technical Outlook Preview
Objective 2024 gold targets are at $2200 and $2360. Will it get to these targets? I wouldn’t bet against it, that’s for sure...
US open: Stocks tumble as inflation unexpectedly rises
Stocks are set for a steeply lower start after the keenly awaited CPI data showed that inflation unexpectedly rose in May to 8.6% YoY a fresh 40 year high.
Two trades to watch: GBP/USD, Oil
GBP/USD rises despite PM Boris Johnson facing a vote of no confidence. Oil prices rise as Saudi Arabia hikes prices.
Two trades to watch: DAX, Gold
DAX holds steady as Russia cuts gas supply to Poland, Bulgaria. Gold trades under pressure on USD strength.
Two trades to watch: EUR/USD, Oil
EUR/USD rises towards 1.10 ahead of the Fed rate decision. WTI crude oil rises after 11% declines in 2 days.
US open: Futures fall as jump in oil stokes stagflation fears
US stocks point to a weaker start after oil prices rise over $120, fuelling stagflation fears.
Two trades to watch: BP, oil
BP swings into profit. Oil steady ahead of API.