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Crude Oil Updates by Solid ECN
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[QUOTE="SOLIDECN, post: 218545, member: 80239"] [HEADING=1][JUSTIFY]Oil[/JUSTIFY][/HEADING] [JUSTIFY]On Tuesday, the market could see a drop in risk aversion The recent panic in the stock market, which was linked to the problems of the banking sector in the USA, has been halted[/JUSTIFY] [LIST] [*][JUSTIFY]The main stock indices from the Old Continent ended the session sharply higher[/JUSTIFY] [*][JUSTIFY]The DAX gained 1.83%, while the French CAC40 added 1.86% and London's FTSE closed 1.17% higher. Poland's WIG20 ended the session slightly above the benchmark +0.11%[/JUSTIFY] [*][JUSTIFY]DE30 quotations reached key short-term resistance at 15280 points[/JUSTIFY] [*][JUSTIFY]Today's CPI inflation data from the US was in line with expectations and showed that prices rose by 0.4% in February after accelerating by 0.5% in January. In contrast, annualised CPI was 6.0% in February, the smallest annual price increase since September 2021. (previously 6.4%). The underlying CPI was also in line with expectations.[/JUSTIFY] [*][JUSTIFY]Wall Street's major stock indices traded higher. The Nasdaq is up 1.5% at the time of preparing this commentary with the S&P500 and Dow Jones adding 1.05% and 0.45% respectively.[/JUSTIFY] [*][JUSTIFY]Apple halts bonus payments, Meta Platforms announces job cuts[/JUSTIFY] [*][JUSTIFY]Tuesday saw massive declines in crude oil. OPEC raised its forecast for crude demand growth in CHINA, but left the forecast unchanged when it came to global demand, explaining this by concerns about global economic growth. OIL.WTI quotes are losing more than 5%, with OIL down 4.5% and falling below the $77 per barrel level.[/JUSTIFY] [*][JUSTIFY]In the forex market today, we are seeing an outflow into commodity currencies, including the Canadian dollar, the New Zealand dollar and the Australian dollar. The Japanese yen is performing poorly. The EURUSD pair maintains bullish momentum and struggles to break out above the resistance level near 1.0750 on a sustained basis.[/JUSTIFY] [*][JUSTIFY]Tuesday brought a continuation of the increases in the cryptocurrency market. Bitcoin's quotations broke out with momentum above the USD 25,000 level, which is an important resistance in the medium term. Etherum's price, on the other hand, jumped above $1,750.[/JUSTIFY] [*][JUSTIFY]At 08:40 pm GMT, we will learn API data on oil stocks, and at 09:20 pm GMT, Bowman from the Fed will speak[/JUSTIFY] [/LIST] [JUSTIFY] [img]https://www.linkpicture.com/q/oil_9.png[/img] OIL.WTI quotes have overcome an internal trendline, which could herald an attack on the December minimum at $70 per barrel.[/JUSTIFY] [/QUOTE]
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