ONLINE FOREX BROKER
2020-10-09 • Updated
Oil dropped below $37 per barrel at the beginning of September. By the middle of the month, it was in $41. October saw it drop to the same range of $36.50-37, just slightly higher. Finally, now we are witnessing it come again to $41-41.15. So the question is: will bounce down again as it did three weeks ago, or it will break the resistance and aim at $43.50?
Hurricane Delta seems to leave little room for doubts: the price will rise. This category 3 storm in the Gulf of Mexico has forced the emergency shutdown of many businesses, including those of oil extraction, many of which are located in the south of the US – exactly where the hurricane is expected to hit. Therefore, this temporary stall of oil production will lead to a consecutive local shortage of oil supply, tilting the balance towards higher prices. In case you like geopolitics, this is happening at the background of the OPEC emerging from the virus with the high market share as many US oil producers had to discontinue their business because of low prices in the previous months. In this sense, Delta boosts the oil price and the OPEC’s tactical position at the same time.
The S&P 500 had a good week due to the impressive start of Q1 earnings and favorable inflation data. In March, the consumer price index rose 5%, lower than the previous month's 6%, and met economists' expectations.
The previous year 2022, was undoubtedly tumultuous for the stock markets, with several stocks plummeting across multiple industries. Analysts have blamed the hard times on inflation, hawkish federal reserve policies, an impending global recession, and the ongoing crisis in Ukraine. This year, however, we're beginning to see some recovery in the stock markets. This article will find a few stocks worth buying this year.
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.
Let's dive into the latest developments shaping the global economic landscape. Good news first: the threat of an unprecedented US debt crisis has receded, as US lawmakers passed a bill to raise the debt ceiling and avoid a catastrophic default. Phew! But don't pop the champagne just yet, because storm clouds are still looming. High inflation, rising interest rates, and sluggish growth are challenges that have yet to disappear.
Thanks to the incredible advancements in horizontal drilling and fracking technology, the United States has experienced a mind-blowing shale revolution. They've become the heavyweight champion of crude oil production, leaving Saudi Arabia and Russia in the dust. They even turned the tables and became net exporters of refined petroleum products in 2011.
Let's dive into the world of gold. Currently, the price of gold, represented by XAUUSD, is stuck in indecision, hovering around the $1,975 mark. The market is anxiously awaiting two important factors: the release of the Federal Reserve's meeting minutes and the extension of the US debt ceiling.
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