Oil market updates on December 4
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Oil spikes on the tweet by Iran's foreign minister
The tweet by Iran's foreign minister increased the possibility of tensions in the region. It pushed the oil prices up.
On H4, Brent's price has tested the $65.2 level. If this level is broken, the next support will lie at $65.76. From the downside, the first support will lie at $63.46. After that, bears will pay attention to the $63 level.
WTI has touched the resistance at $59.42. If it is broken, the next level will lie at $59.85. Bears will be focused on the downward movement to the $57.80 level (50-period SMA). The next support will lie at $57.2.
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Today, the oil prices may move on the release of crude oil inventories at 18:00 MT time.
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Currency market on December 9
The main attention of traders is paid to the news concerning the US-China developments ahead of the US tariffs deadline scheduled on December 15.
5 important events this week will bring us
The UK Parliament election, American and European interest rates announcements and monetary policy press conferences - all of these are going to take place this week.
Is the Fed holding the rate?
The Federal Funds Rate is announced at 21:00 MT time on December 11.
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