Crude Oil WTI

Euro Pulls Back at Support Ahead of ECB Meeting EURUSD continues its retreat as price action slipped to the support area. There is also a confluence of the rising trend line, indicating that there is strong support at the 1.1300 region. If…
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EURUSD Gains Look to Be Overdone The euro retreats after testing a session high of 1.1354 on Friday, marking a rally to a one-year high. Prices are consolidating near the 1.1300 region at the moment. A close below this level could signal a…
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The optimism in the markets following the IMF pledging $50 billion in aid to fight the coronavirus outbreak was short-lived. After the state of California declared an emergency, equity markets continued to fall. So far, the sell-off…
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Almost all asset classes, with the exception of bonds, closed strongly bearish into Friday’s close. Even safe-haven precious metals succumbed to the panic. Economic data was pushed to the backseat. Investors ignored the 0.6% monthly…
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Consumer confidence, as measured by the Conference Board saw a modest increase in February. The data showed that the consumer confidence index rose to 130.7 from a downward revised 130.4 in January. The data was below estimates of 132.5.…
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Investors sought the safety of safe-haven assets, selling the risk-heavy equities. This came amid an increase in the Coronavirus cases outside of China. Besides some Asian countries, Europe is also being affected. This led to an…
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USDJPY Rises on Potential Japanese Stimulus The Japanese yen fell sharply last week amid renewed concern that Japan could be on the brink of a recession. Speculations run high that the Bank of Japan may roll out further monetary stimulus…
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In what could be a sign of a turnaround in the US manufacturing sector, the Philly Fed manufacturing index rose to a 3-year high in February. The index jumped from 17.0 in January to 36.7. A positive reading indicates expansion in the…
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The latest producer prices data surprised to the upside in January. Data from the Labor Department showed that producer prices rose 0.5% in January. This comes after a 0.2% increase in December. The gains came despite a 0.7% decline in…
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