Crude Oil Climbs to 9 Month

High Following OPEC+ Production Agreement West Texas Intermediate (WTI) crude oil rose to the highest since the beginning of March on Friday, a day after the OPEC+ group decided on gradual production increases in the new year instead of a one-time rise of 2-million barrels per day that risked oversupplying a market still coping with…

COPPER price

The price of copper is believed to provide a reliable measure of economic health, as changes to copper prices can suggest global growth or an upcoming recession. With high volatility and strong liquidity, copper is attractive to traders. Copper spot price is affected by extraction and transportation costs, as well as supply and demand. Use…

OIL Price Correction Coming?

While UK Brent oil when up +0,78%, the DXY (Us dollar index) went down -0,57% for last Friday Feb. 5th. Even as Baker Hughes reported a rise in the number of active drilling rigs in the United States on Friday, oil prices continued to see gains on Friday afternoon. Friday afternoon, Brent was still up over 1% on the…

XAG/USD week 3

Silver has been trading above $25 an ounce on Tuesday, after falling 2.5% in the previous two sessions, supported by prospects of further US stimulus despite uncertainty over the size and timing of the new package. Meanwhile, investors also await Fed’s monetary policy decision on Wednesday and expect it to reinforce its commitment to a…

CHFJPY week 53

The USD/CHF pair refreshed multi-year lows during the early North American session, with bears now looking to extend the downward trajectory further below the 0.8800 mark. The pair failed to capitalize on its intraday uptick, instead met with some fresh supply near the 0.8825 region and drifted into the negative territory for the fourth consecutive…

EURJPY week 53

The Japanese Yen was little changed, at near 9-month highs of 103.141 against the USD on Thursday and gaining 5.05% for the year as investors continued their retreat from the USD amid rising fiscal and current account deficits as the government increases spending to tackle coronavirus-related business shutdowns.

Copper futures

Copper futures fell from a near 8-year high of $3.63 per pound hit last week, after a resurgence of a new faster-spreading variant of the Covid-19 virus in the UK threatened global economic recovery with further lockdowns and travel restrictions. However, the demand and supply fundaments remain supportive for the coal market, amid rising winter…