Crude Oil WTI

Equity markets are holding steady as they trade close to the all-time highs. This comes amid a mixed investor sentiment. Gold prices also continue to hold steady. The economic calendar is generally quiet and Powell’s speech did not give…
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Trade of the Week GBPUSD softens as trade uncertainty looms Post-Brexit euphoria might have come to an end as investors shifted their focus to EU-UK trade negotiations. The reality is that each side has a different vision of the shape…
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The US dollar reversed losses on Monday after the Institute for Supply Management’s PMI report on manufacturing beat estimates. Not only did the data outperform forecasts of 48.5, but it also rose to 50.9. A reading above the 50-level on…
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The Bank of Canada held its monetary policy meeting on Wednesday. As widely forecast, the BoC left the key interest rate steady at 1.75%. Ahead of the BoC meeting, Canada’s inflation data came out. Consumer prices were seen to be fairly…
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Equity markets rose to post new highs on Friday. The Dow Jones index briefly broke the 29,000-mark before pulling back. Despite this, all major equity indices closed positive on the week. The payrolls report for December was soft. The…
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Trade of the week EURUSD Struggles to Push Higher A relatively calm week ahead data-wise as traders leave for a well-deserved Christmas on Wednesday. We would expect the euro to pull back for lack of a significant catalyst. Some…
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Investors remain cautious as the risk of a no-deal Brexit puts focus back on the UK. This comes amid a lack of any new reports on the US-China trade deal. Economic data also remains sparse for the USD. There were some speeches from Fed…
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Equity markets broke fresh ground on Thursday. Reports indicate that Washington is ready to cut the existing tariffs by half on over $360 billion goods. There is also speculation that the US will cancel the new tariffs due to kick in…
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Friday’s payrolls report came in the midst of speculation that the labor market was cooling. This sentiment was set after a weaker than expected private payrolls report. However, investors were in for a surprise when the payrolls for…
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The current 4H formation on USOIL shows an intervening primary wave Ⓧ consisting of intermediate sub-waves (А), (В) and (С). The bullish corrective wave (B) hints to a triple zigzag pattern W-X-Y-X-Z of the minor degree. At the time…
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