The price of crude oil rose today as the market reacted to the historic deal signed between OPEX and non-OPEC members to cut production. The signatories agreed to cut oil production by 9.7 million in the next two months...
Spending and GDP During the upcoming trading week, traders and investors look to the release of US Retail Sales data and Chinese Gross Domestic Product numbers for direction. US retail spending is likely to have taken a sharp hit...
EUR/USD remains soft amid the Good Friday holiday in major markets. The pair’s pullback from the monthly resistance line portrays further declines. An upside break needs validation from 200-bar SMA. While taking a U-turn from the short-term resistance trend...
GBP/USD steps back from two-week-old horizontal resistance. Good Friday holidays limit immediate moves. A two-day-old support line, 200-HMA could question sellers. Buyers may target 50-day and 200-day SMAs during the successful upside. While stepping back from a fortnight-old resistance,...
WTI remains on the back foot inside following its U-turn from 61.8% Fibonacci retracement. Channel’s support, 23.6% Fibonacci retracement could check further downside. Buyers could target $30.00 during the sustained run-up. Following its U-turn from the key Fibonacci retracement,...
USD/CHF remains on the back foot after breaking near-term key supports, Good Friday holiday restricts the moves. Late-March lows, 61.8% Fibonacci retracement on sellers’ radars. 200-day SMA adds to the resistance beyond the latest ones. Although Good Friday’s inactive...
The price of crude oil declined in overnight trading even after OPEC and its allies agreed to a historic supply cut. The members agreed to cut production by 10 million barrels per day. This is the biggest oil supply...
Open interest in EUR futures markets increased for the second session in a row on Wednesday, this time by just 105 contracts, according to preliminary figures from CME Group. Volume, instead, prolonged the erratic performance and went down by...
In light of advanced readings from CME Group, open interest and volume in JPY futures markets shrunk by around 2.6K contracts and by nearly 6.4K contracts, respectively, on Wednesday. USD/JPY still sees a test of 110.00 USD/JPY managed to...
According to preliminary figures for Gold futures markets from CME Group, open interest rose by just 420 contracts on Wednesday, while volume went down by more than 89K contracts, reversing two builds in a row. Gold still eyes a...
