Oil prices benefit from weaker greenback
Oil has benefited from the recent dollar decline, with both UKOil (Brent) and USOil (WTI) CFDs moving into the neutral areas between their blue bands (green rectangles).
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Oil has benefited from the recent dollar decline, with both UKOil (Brent) and USOil (WTI) CFDs moving into the neutral areas between their blue bands (green rectangles).
The weekly gold charted a series of lower peaks (LP) followed by lower troughs (LT). Thus, XAUUSD is trending down on a primary basis. Therefore, in our view, the week of Monday, 18 April (black dashed vertical) was a critical period (T1) for the precious metal, marking its first LP.
USOil finds reprieve after yesterday’s plunge, as the International Energy Agency (IEA) talks of critically low inventories, in today’s latest monthly report
XAU/USD tries to take a breath today, after yesterday’s slump due to recession fears that sent investors to the arms of the US Dollar
Oil capitulates as market ponders demand destruction.
The commodity registered its first negative month of the year, amidst stagflation fears, while OPEC+ maintained its output hike plan
Oil bid as OPEC and OPEC+ set to meet over the next two days.
Real yields exert pressure on the pressure metal. As the Fed hiking cycle continues, this pressure may keep up in the near-to-medium term if the correlation holds.
The commodity keeps its gains as the group of seven advanced economies is mulling a limit on the price of oil imports from Russia, while Libya warns of potential export halt
XAU/USD opened higher today, as the G7 economies are expected to sanction imports of Russian gold, based on the US President’s comments over the weekend
The gold price retested its bearish continuation pattern following its breakdown.
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