UK OIL hits a fresh high
Oil (UK Oil) prices pushed to a six-month high, raising fresh inflation fears as the Chancellor of Britain attempts to play down ongoing worries over the economy. The evident cold weather season is a general factor in prices. However, with the fresh sanctions on Russian oil sales, the energy sector, in general, is getting a fresh lift that could continue until the summer. 84.00 is the immediate resistance, and 75.00 is a crucial support to defend.
EURUSD looking to snap six-week sell-off
The Euro has had a few months to forget after hitting continuous lower lows in the process. With the interest rate differential remaining in favour of the dollar, the course of the European economy continues to raise concerns. In addition, the possible political instability in Germany does not help the prospects of the currency as it attempts to develop a sustained upward trajectory. Further uncertainty could push the price lower below 1.0200, with 1.0360 as the closest resistance.
SPX 500 rallies supercharged by easing speculation
The stock market notched its best day since November after the latest update on inflation sent indexes higher. Driving the gains was a combination of cooler-than-expected core CPI data and a strong start to earnings season from big banks. This news reignited hopes the Fed will be able to cut rates more than once this year. Recovering from 5800 could help investors face the new year with confidence. 6000 is the immediate resistance.
