Oil is at 13-month high due to deep freeze in Texas

Oil is at 13-month high due to deep freeze in Texas

Latest news

  • Stocks are rallying up further amid the ongoing global recovery. S&P 500 set a record high at 3 956, Nasdaq – at 13 884. Japan’s Nikkei 225 rose above 30 000.
  • Oil prices surged to 13-month highs as oil production stopped in Texas because of extremely cold weather. Besides, such a deep freeze boosted power demand. Rising oil prices pushed up commodity-sensitive currencies such as the Canadian dollar.
  • Ten-year Treasury yields soared above 1.24%, marking the highest level in almost a year. It may press gold down.
  • Bitcoin skyrocketed to another record, approaching the milestone of $50 000.
  • “Continued monetary stimulus and bursts of fiscal support maintain a strong foundation for risk assets, compensating for the slower than expected vaccine rollout,” said Principal Global Investors.

Technical analysis

EUR/USD has been trading back and forth just below the 50-day moving average at 1.2150. If it manages to break it, the way up to the high of January 22 at 1.2190 will be open. On the flip side, the move below the low of February 12 at 1.2090 will drive the pair down to the next support of 1.2030.


GBP/USD jumped to the psychological mark of 1.3950 but failed to cross it. If it breaks it on the second try, the doors towards the next resistance of 1.4000 will be open. Support levels are at yesterday’s low of 1.3900 and at the low of February 12 at 1.3840.


USD/JPY has soared to the 200-day moving average of 105.60. If it manages to break it, the way up to November’s high of 106.00 will be open. On the flip side, if it fails to break it again, it may drop to the support of 105.00.


WTI oil is trading just above the $60.00 level. The way up to yesterday’s high of $61.00 is clear. Support levels are $59.00 and $57.50. Current oil CFDs: WTI-21H expires on February 19, WTI-21J expires on March 19.




Latest news

The US NFP: What’s New?
The US NFP: What’s New?

The US Bureau of Labor Statistics will announce average hourly earnings, nonfarm employment change (NFP), and the unemployment rate on July 8, at 15:30 MT time.

What Are FOMC Insights?
What Are FOMC Insights?

The Federal Open Market Committee, a committee within the Federal Reserve, will reveal a detailed record of the central bank’s last meeting on July 6 at 21:00 MT.

Will Australian Cash Rate Change?
Will Australian Cash Rate Change?

The Reserve Bank of Australia will announce its cash rate and make a statement about future rate policy on Tuesday, July 5, at 07:30 MT.

Deposit with your local payment systems

Be on top of your game

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.


A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera