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Don’t waste your time – keep track of how NFP affects the US dollar!
The Suez canal is pretty shallow and narrow. Exactly the width of one huge ship. Currently, a container carrier is stuck in the canal transversely. Oil tankers are waiting for the situation to get resolved as the oil they're carrying needs to come to the destination. However, it was underlined that it may take days for the Suez canal to get cleared.
Initially, the WTI oil spiked from depths around $57 above $60. However, it was quick to reverse the gain. Currently, it goes sideways at $60, although, with somewhat increased volatility. In general, it appears that the effect of the Suez canal incident on the WTI price was as minimal as short-lived. Therefore, unless the clearing of the canal takes much longer than expected, we may safely assume that no bullish sentiment is about to appear on the chart in the short-term unless fundamental indicate that.
What will happen? The Organization of the Petroleum Exporting Countries and 10 additional oil-exporting countries, including Russia, will hold a videoconference on July 1…
Optimistic forecasts on oil prices, nuclear talks with Iran, and upcoming OPEC+ meeting. How to trade oil these days?
The Bank of Canada releases a monetary policy statement with an update on the interest rate on June 9, at 17:00 MT time.
Elon Musk, Tesla’s founder and CEO, said the company wouldn’t accept Bitcoin as payment any longer. As a result, BTC/USD dropped to $45,300, the low unseen since March.
Commodities (iron ore, oil) and commodity-linked currencies (AUD, CAD) surged. West Texas Intermediate has reached $75 a barrel, while Brent rose to the highest mark since October 2018.
Although Jerome Powell’s speech sounded hawkish on Wednesday, September 22, markets did not get scared and the main stock indices got bought back…
Turkey’s central bank governor was at a crossroads: to hold interest rates and take a risk to be fired like it was for three governors before him, or to comply with the president, to cut rates, and to risk the market. Let’s find out, how to react to the rate cut.
The Fed can start tapering already this November, oil is rallying pushing the Canadian dollar up! Jump in to know more!
Germany, the leading economy in the Euro Zone, will reveal one of the key economic indicators – German Ifo Business Climate on September 24 at 11:00 MT time.