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Natural Gas Futures: Downward pressure appears temporary

Considering advanced prints from CME Group for natural gas futures markets, open interest went down for the third session in a row on Friday, now by around 19.5K contracts. In the same line, volume reversed the previous daily build and dropped sharply by around 183.2K contracts. Natural Gas: Next on the upside comes $2.90 ahead […]

Crude Oil Futures: Further upside not ruled out

Open interest in crude oil futures markets increased by around 13.5K contracts after four consecutive daily advances on Friday according to preliminary readings from CME Group. Volume, instead, shrank for the third straight session, this time by nearly 50K contracts. WTI still targets July highs above $77.00 WTI prices kept the optimism well in place in […]

USD/CAD remains depressed below mid-1.3100s

The USD/CAD pair continues losing ground for the fourth successive day on Thursday and drops to a fresh weekly low during the early part of the European session. Spot prices currently trade just below mid-1.3100s, down less than 0.20% for the day, and remain well within the striking distance of the YTD trough touched last […]

Natural Gas Futures: Extra advances look likely

CME Group flash data for natural gas futures markets noted traders reduced their open interest positions by around 3.2K contracts on Wednesday, leaving behind the previous daily build. In the same line, volume resumed the downtrend and dropped by around 50.7K contracts. Natural Gas appears supported around $2.50 Prices of natural gas retreated modestly on Wednesday. This […]

July 20, 2023
By admin

XAG/USD eases from over two-month top

Silver retreats from its highest level since May 11, around the $25.25 region touched this Thursday and drops to a fresh daily low during the early European session. The white metal, however, manages to hold above the $25.00 psychological mark and seems poised to prolong its recent upward trajectory witnessed over the past month or so. […]

July 20, 2023
By admin

USD/JPY recovers to 139.50 on Japan economic fears

USD/JPY picks up bids to reverse the early-day losses around 139.50 during the initial hour of Thursday’s European session. The Yen pair justifies recently downbeat macros, as well as news, surrounding Japan while failing to cheer the US Dollar weakness amid a sluggish trading day so far. That said, the Japanese government recently announced a downward […]

July 20, 2023
By admin

GBP/USD remains under pressure

The GBP/USD pair remains under pressure around 1.2920 heading into the European session. The Pound Sterling extends its downside following the softer-than-expected inflation readings for June. The UK headline Consumer Price Index (CPI) MoM rose 0.1% in June, below the 0.4% expected and the 0.9% increase in May. On an annual basis, headline CPI dipped to 7.9%, […]

Crude Oil Futures: Scope for further gains near term

Considering advanced prints from CME Group for crude oil futures markets, open interest dropped for the second session in a row on Wednesday, now by around 59.3K contracts. Volume followed suit and went down by around 52.3K contracts after two daily builds in a row. WTI: Immediate hurdle comes just above $77.00 Wednesday’s downtick in […]

US Retail Sales expected to surge in June, deliver potential US Dollar relief

Retail Sales data in the United States (US) will be published by the Census Bureau on Tuesday, July 18. The June headline Retail Sales figure is expected to see another increase after unexpectedly rising in May. Note that the Retail Sales data is adjusted for seasonality but not for inflation. The United States Dollar (USD) […]

July 18, 2023
By admin

WTI Price Analysis: Oil bounces off 10-DMA to snap two-day losing streak above $74.00

WTI crude oil clings to mild gains around $74.30, up 0.33% intraday heading into Tuesday’s European session, as it rebounds from the 10-DMA support to print the first daily gain in three. Apart from the 10-DMA support, the bullish MACD signals also underpin the upside bias surrounding the Oil price. However, the support-turned-resistance line stretched […]