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Crude Oil Updates by Solid ECN
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[QUOTE="SOLIDECN, post: 219870, member: 80239"] [JUSTIFY][img]https://www.linkpicture.com/q/728x90.png[/img][/JUSTIFY] [HEADING=1][JUSTIFY]Oil[/JUSTIFY][/HEADING] [LIST] [*][JUSTIFY]Major Asian stock indexes ended the session lower after yesterday's slump on Wall Street.[/JUSTIFY] [*][JUSTIFY]Chinese and Japanese markets were closed today for holidays.[/JUSTIFY] [*][JUSTIFY]Retail sales data from Australia came in slightly better than expected. March retail sales came in at 0.4% on a monthly basis, against expectations of 0.3% month-on-month and the previous reading of 0.2% month-on-month.[/JUSTIFY] [*][JUSTIFY]The Reserve Bank of New Zealand released its latest Financial Stability Report today.[/JUSTIFY] [*][JUSTIFY]Governor Adrian Orr says that New Zealand’s financial system is well placed to handle the higher interest rate environment and international financial disruption.[/JUSTIFY] [*][JUSTIFY]New Zealand's labor market report for Q1 showed the addition of new jobs and a lower-than-expected unemployment rate.[/JUSTIFY] [*][JUSTIFY]Data from NZ, combined with the RBNZ's lack of stability concerns, increase the chances of a RBNZ rate hike at its next meeting. That is scheduled for May 24. [/JUSTIFY] [*][JUSTIFY]NZD/USD rose on the session to highs just above 0.6250.[/JUSTIFY] [*][JUSTIFY]Bank of Korea Governor Rhee spoke in an interview saying, amongst other points, that it’s a little bit premature to talk about a policy pivot.[/JUSTIFY] [*][JUSTIFY]Across major FX the USD lost ground against a higher JPY, CHF, EUR and GBP. AUD and CAD lagged.[/JUSTIFY] [*][JUSTIFY]Investors are awaiting a decision on interest rates in the US.[/JUSTIFY] [*][JUSTIFY]In addition to the Fed decision, today will see the release of the ADP report and the ISM index for services, as well as data on US oil inventories.[/JUSTIFY] [/LIST] [JUSTIFY][img]https://imgtr.ee/images/2023/05/03/aoroM.png[/img] Crude oil scored a weak session yesterday. OIL.WTI quotes are on track to test support at the round $70 level.[/JUSTIFY] [/QUOTE]
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