Oil and BTC Surged, EUR Awaits ECB
Today traders await the European Central Bank to make a policy statement at 14:45 MT (GMT+3).
12% of global trade blocked in Suez: oil at risk?
What happened?
The Suez canal is pretty shallow and narrow. Exactly the width of one huge ship. Currently, a container carrier is stuck in the canal transversely. Oil tankers are waiting for the situation to get resolved as the oil they're carrying needs to come to the destination. However, it was underlined that it may take days for the Suez canal to get cleared.
What was the market reaction?
Initially, the WTI oil spiked from depths around $57 above $60. However, it was quick to reverse the gain. Currently, it goes sideways at $60, although, with somewhat increased volatility. In general, it appears that the effect of the Suez canal incident on the WTI price was as minimal as short-lived. Therefore, unless the clearing of the canal takes much longer than expected, we may safely assume that no bullish sentiment is about to appear on the chart in the short-term unless fundamental indicate that.
Similar
Oil and Bitcoin Dropped, Gold Recovers
Oil dropped to the lows unseen since late May. Bitcoin has dropped below $30,000, while gold has reversed up from a dip under $1,800.
How will AUD React to Australian Retail Sales?
Australian monthly retail sales will be announced at 04:30 MT time (GMT+3) on Wednesday, July 21. T
Latest news
Trade ideas for August 2-6
What events to follow and how to trade during the week of July 2-6?
EUR/USD is Ready for Reverse, Amazon's Poor Results
EUR/USD retraced to 1.1870 after breaking out this level. It should be just a natural sell-off ahead of the further rally up.
Weak USD, Gold and China's Stocks Recover
The Fed held a much-awaited meeting yesterday. The bank hasn’t made any policy changes. As a result, the USD weakened and EUR/USD rocketed. Jump in to know all the latest news!
Deposit with your local payment systems
