admin

US Dollar bears eye a break below daily support. Bulls could be attracted which could open risk towards 105.50 or a 50% mean reversion near 105.75.  The US dollar fell on Friday despite a surprisingly strong jobs report and fell to test the 104.50s where the price is consolidating in the Tokyo open. Even though the Nonfarm Payrolls
There was no surprise at Sunday’s OPEC+ meeting as the group left production quotas unchanged, as was expected. Hints at the decision were dropped to various news services last week so the announcement doesn’t come as a surprise, though some had held out hope for a cut. In October OPEC+ lowered production quotas by 2
The US has welcomed the USD 60-per-barrel price cap on Russian oil, describing it as an “important tool” that will benefit emerging markets and low-income economies and further cripple President Vladimir Putin‘s finances used to fund his “brutal invasion” on Ukraine. The European Union reached a deal on Friday for a USD 60-per-barrel price cap
The tone of the markets was well set by Fed Chair Jerome Powell’s indication of smaller rate hike in the upcoming FOMC meeting. The biggest reactions were found in treasury yields, which decline was surprisingly steep. US stocks ended higher but upside momentum appeared to be diminishing. Dollar was sold off broadly and closed as
The price of crude oil futures settled at $79.98. That is down -$1.24 or -1.53%. The OPEC+ meeting will take place virtually on Sunday. No change in production is expected. The price cap looks to be set at $60 for Russian oil The Russian sanctions will also go into effect cutting off all imports of