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Crude Oil Futures: Potential correction lower

Crude Oil Futures: Potential correction lower

CME Group’s advanced figures for petroleum futures markets noted traders increased their open interest positions by around 15.1K contracts following four consecutive daily pullbacks on Wednesday. Volume, instead, shrank for the second session during a row, this point by quite 187K contracts. WTI…

Market News
NZD/USD now moved into a consolidative phase – UOB

NZD/USD now moved into a consolidative phase – UOB

NZD/USD is forecast to trade between 0.6960 and 0.7105 within the next weeks, noted FX Strategists at UOB Group. Key Quotes 24-hour view: “While we expected NZD to strengthen yesterday, we were of the view…

Market News
Gold Price Forecast: XAU/USD is looking to find its feet, but bullish potential is limited

Gold Price Forecast: XAU/USD is looking to find its feet, but bullish potential is limited

Gold price is finding its feet after Tuesday’s drop, although $1790 remains a troublesome nut to crack for the bulls. US Markit PMIs are awaited for fresh cues, FXStreet’s Dhwani Mehta briefs. See – Gold…

Market News
Natural Gas Futures: Potential for a move lower

Natural Gas Futures: Potential for a move lower

Considering preliminary figures for gas futures markets from CME Group, open interest shrank for the fifth consecutive session on Tuesday, now by around 3.5K contracts. Volume followed suit and went down by around 35.6K contracts.…

Market News
Crude Oil Futures: Correction lower overdue?

Crude Oil Futures: Correction lower overdue?

CME Group’s advanced readings for petroleum futures markets noted both open interest and volume shrank markedly on Tuesday, this point by around 30.5K contracts and by around 183.7K contracts, respectively. WTI remains in overbought levels Prices of the WTI…

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USD/INR Price News: Indian rupee buyers seek entries above 74.00 on cautious optimism

USD/INR Price News: Indian rupee buyers seek entries above 74.00 on cautious optimism

USD/INR steps back from intraday top after a two-day downtrend. Mildly upbeat sentiment weighs on USD before Powell’s testimony. US-China jitters, covid updates, and second-tier data add filters to the moves. USD/INR defends the 74.00 thresholds, snapping…

Market News
Gold Price Forecast: XAU/USD to extend its recovery on a break above $1778

Gold Price Forecast: XAU/USD to extend its recovery on a break above $1778

Gold is attempting a bounce from two-month lows amid falling yields, although a broadly firmer US dollar is probably going to limit the rebound, FXStreet’s Dhwani Mehta briefs. XAU/USD attempts a bounce amid falling yields,…

Market News
US Dollar Index Price Analysis: Above 92.00 targets the 92.50 region

US Dollar Index Price Analysis: Above 92.00 targets the 92.50 region

DXY records 2-month highs beyond 92.00, retreats afterward. Next on the upside comes during a Fibo level near 92.50. DXY advances above the 92.00 mark for the primary time since April on Friday. The improved…

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US Dollar Index pushes higher to the 91.60 zone ahead of data

US Dollar Index pushes higher to the 91.60 zone ahead of data

DXY extends the sharp rebound further north of 91.00. The dollar regains traction following the FOMC event. Initial Claims, Philly Fed Index, Yellen next on tap. The dollar keeps pushing higher and extends the recent…

Market News
Silver Price Analysis: XAG/USD bears gather strength to breach 100-DMA support

Silver Price Analysis: XAG/USD bears gather strength to breach 100-DMA support

Silver tracked the sell-off in gold price after Fed’s hawkish turn. XAG/USD battles 50-DMA as bears gather strength for subsequent downswing. RSI has turned flat but stays bearish, keeping sellers hopeful. Silver price (XAG/USD) tumbled in tandem…