In this week’s Crude Oil Update, we discuss the OPEC+ production cuts, a war in Ukraine, and how oil markets have reacted to them. We also look at China’s industrial output, which is expected to grow 3.6% in 2022. China’s industrial output expected to have grown 3.6% in 2022 China’s industrial output is expected to …
The Producer Price Index (PPI) is a crucial gauge of wholesale inflation. This indicator is important to forex traders because it gives them an idea of what the cost of producing goods is. In turn, this can help them gauge what the prices of commodities and services will be in the near future. It is …
The S&P 500 broke its three-day winning streak on Tuesday, falling a bit after the Fed’s latest meeting. However, technical resistance kept the index above the key level of 3,900. Despite this, the market added 0.81% value, and closed at a new high for the year. After a volatile August, which saw an equity market …
Despite its storied pedigree as the world’s reserve currency, the Euro is not quite out of the woods yet. After a shaky start in the early aughts, Eurozone nations are enjoying a resurgence that can be attributed to a combination of a resurgent banking sector, increased foreign exchange reserves and a booming consumer base. This …
Traders and investors will be pleased to learn that oil prices made an impressive comeback in the last 24 hours. The market was looking ahead to the latest round of OPEC+ production cuts that were to be announced in the near future. The move was designed to boost oil prices and help the global economy …
Despite the Euro’s rout against the dollar this year, a reversal of the decline could be on the cards in December. The ECB is in the midst of an aggressive tightening cycle, which is likely to extend into next year. Moreover, a rebound in retail sentiment could fuel a further push towards higher highs in …
FTX’s collapse continues to reverberate throughout the crypto space. FTX and Alameda Research are two companies that have been linked in recent weeks, and both firms have suffered major losses due to their failure to operate as expected. While the collapse of Terraform Labs was the first big event to impact the crypto industry, FTX …
The AUD/USD is nearing an October high after clearing its high from late September. A rebound in the employment data in Australia is expected to halt the recent drop and support the currency pair. However, a below-forecast print would be bearish for the Aussie dollar as it would sap bets on an RBA rate hike …
AUD/USD’s recent selloff has caused the Relative Strength Index (RSI) to slip back into oversold territory. This is a bad sign for the currency pair, as further losses are likely. However, a move above 30 on the RSI will likely result in a near-term rebound. The selloff in the AUD/USD may be overdone, as the …
As the September Fed Meeting draws near, investors are likely to be closely watching the latest US inflation data. The Consumer Price Index (CPI) showed a rise of 8.3% year over year in August. The data was a tad below expectations, but still a big jump from last year. Despite the data, investors are still …