Oil prices jumped by more than 3%, rising for a fifth consecutive session on expectations of a widening Middle Eastern conflict that could tighten global crude oil supplies.
The Oil-Dollar pair skyrocketed 3.7% in the last session. According to the CCI, we are in an overbought market.
WTI/USD skyrocketed 3.7% in the last session.
The CCI points to an overbought market.
Support: 76.7567 | Resistance: 77.4767
A week of wild market swings has investors looking ahead to inflation data, corporate earnings and presidential polls for signals that could soothe a recent outbreak of turbulence in U.S. stocks. U.S. stock volatility has surged this month as a run of alarming data coincided with the unwinding of a massive, yen-fueled carry trade to deal equities their worst selloff of the year.
USD was off a one-week high, capping off a turbulent week as traders digested a drop in U.S. jobless claims and the prospect of a looming economic downturn. USD was down against the Japanese yen following a three-day rebound, as firmer-than-expected employment data spurred a paring back in bets for Federal Reserve interest rate cuts later this year.
Gold prices held steady on Friday after a sharp rise in the previous session, bolstered by a dip in U.S. Treasury yields, as investors grew confident that the Federal Reserve would lower interest rates in September.
The Gold got a slight bump of 0.2% against the Dollar in the last session. The ROC is giving a positive signal.
The Gold-Dollar pair gained a moderate 0.2% in the last session.
The ROC is currently in positive territory.
Support: 2364.6447 | Resistance: 2458.8487
U.S. stocks were lower in choppy trading, rising early with technology shares and then falling in tandem with them as investor jitters were stoked by weak demand in a 10-year Treasury auction. S&P500 was down 0.45%.
Oil prices gained more than 2%, bouncing back from multi-month lows, after data showed a bigger-than-expected draw in U.S. crude stockpiles, even as worries about weak oil demand in China persisted.
The Oil-Dollar pair skyrocketed 3.5% in the last session. The Williams indicator is giving a positive signal.
WTI/USD skyrocketed 3.5% in the last session.
The Williams indicator is currently in the positive zone.
Support: 71.2833 | Resistance: 75.9633
