Oil Prices, Charts, and Analysis The People’s Bank of China (PBoC) unexpectedly cut borrowing costs. Oil may look to consolidate recent gains. Recommended by Nick Cawley How to Trade Oil The People’s Bank of China (PBoC) unexpectedly cut its one-year medium-term lending facility – the rate at which Chinese banks borrow money from the PBoC
Share: S&P 500 has given up 2.72% so far in August. The index is in an official short-term downtrend. Target, Walmart and Home Depot release quarterly earnings this week. US Census Bureau reports July US Retail Sales on Tuesday. S&P 500 opened Monday lower alongside other major indices. The S&P 500 traded off about 0.1%
UPCOMING EVENTS: Tuesday: PBoC MLF, Australia Wage Price Index, China Industrial Production, UK Jobs Report, German ZEW, US Retail Sales, Canada CPI, NAHB Housing Market Index. Wednesday: RBNZ Policy Decision, UK CPI, FOMC Meeting Minutes. Thursday: Australia Jobs Report, US Jobless Claims. Friday: Japan CPI, UK Retail Sales. Tuesday The PBoC is expected to keep
Monday: Fed’s Bowman (hawk – voter) delivered hawkish comments over the weekend as she leans towards more rate hikes: We should remain willing to raise rates at a future meeting if data show inflation progress has stalled. In considering further rate hikes and how long to keep rates restrictive, consistent drops in inflation will be
While Bitcoin seems to be on the road to recovery, the last few months have not been great for the crypto industry in the United States. It has been revealed that Binance, one of the biggest exchanges in the world, considered shutting its doors in the country. This also comes as popular UK digital bank
Markets: Gold flat at $1912 US 10-year yields up 8.8 bps to 4.17% WTI crude oil up 35-cents to $83.17 S&P 500 flat GBP leads, NZD lags The final changes on the day and the headlines don’t capture what was a lively August Friday. The PPI numbers hit and were slightly stronger than expected. Normally
Oil (WTI, Brent Crude) Analysis OPEC’s demand forecast suggests tight oil market into year end Brent crude oil pulls back from resistance as bullish momentum subsides WTI crude oil tests trendline support on latest dip The analysis in this article makes use of chart patterns and key support and resistance levels. For more information visit
Share: Data released on Friday showed that Nonfarm Payrolls in the US rose by 187,000 in July, falling below the market consensus of 200,000. June’s figures were also revised lower to 185,000, marking the lowest level since December 2020. Analysts at Wells Fargo point out that the slower pace of hiring in July
UPCOMING EVENTS: Monday: Canada Holiday, Swiss Unemployment Rate, BoJ’s Summary of Opinions. Tuesday: NFIB Small Business Optimism Index. Wednesday: China CPI. Thursday: US CPI, US Jobless Claims. Friday: Japan Holiday, UK GDP, US PPI, University of Michigan Consumer Sentiment. Monday: The BoJ’s Summary of Opinions will be scrutinised by market participants for details and clues
Monday: Fed’s Kashkari (hawk – voter) kept the door open for a rate hike in September as the FOMC remains data dependent: Not sure when the Fed will be done raising interest rates, making good progress. Will let the data guide the Fed, may or may not raise rates in September. US Economy has remained
