
Last week marked the consolidation for the most active assets of March 1-15 (which is oil and gold). But next week has a lot to show, be ready to take part!
2021-08-25 • Updated
This week began with several positive news which made investors feel confident about future global economic recovery.
China's apparent success in fighting the Delta variant of the coronavirus, with no cases of locally transmitted infections in the latest data. Moreover, on Monday the U.S. Food and Drug Administration issued full approval for the Pfizer/BioNTech two-dose vaccine. The World Health Organization reports the number of new Covid-19 cases "seems to be plateauing" after increasing for nearly two months.
Brent has always been the driver of economic recovery and development. In this article, we will discuss why the end of the pandemic is equal to the beginning of the new raw material cycle.
Let’s check the global Brent oil futures chart!
Brent futures, monthly chart
Source: tradingview.com
According to Tradingview data, the Brent price might get pumped during an upcoming month. There are three reasons for that:
Short term period:
XBR/USD, 1H chart
On the 1 hour chart, the bearish divergence occurred. The closest support level is $69.8. If the price breaks through, it will drop to $68.6. Otherwise, we might see the price reaches $71.3 and the main August target of $72 shortly.
Last week marked the consolidation for the most active assets of March 1-15 (which is oil and gold). But next week has a lot to show, be ready to take part!
Why brothers? If you put an oil chart on the S&P500 chart, you will find out that these assets have a strong correlation…
Besides US Retail Sales data, Australian Unemployment Rate and New Zealand GDP this week will bring us Quadruple Witching – one of the four most important days of a year for futures and options!
Last year was tough for the Japanese yen. USDJPY gained more than 30% over 2022, striking above 150 in October. While anticipation of slower Fed rate hikes pulled the pair below the 130 level at the start of 2023, the speculations over the destiny of BOJ’s yield control policy grabbed the attention of the Japanese assets in the middle of January. What lies ahead for traders of the Japanese yen?
Today, at 5:00 pm (GMT +2), the Bank of Canada will publish the Overnight Rate, which represents short-term interest rates, and is pivotal to the overall pricing of the Canadian Dollar in the global markets. Let's look at how the markets are faring ahead of the BoC rates release.
In a call scheduled for January 25, 00:30 am GMT+2, Microsoft will publish the company's earnings for the final quarter of 2022 and comment on the results, projections, and outlook for the nearest future of the company.
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