Author: FX
West Texas Intermediate (WTI) US Oil trades around $59.50 on Friday at the time of writing, up 1.60% on the day, after hitting a daily high at $60.47. The Crude Oil recovers after a Ukrainian drone strike damaged an Oil depot at Russia’s Black Sea port of Novorossiysk, one of the country’s key export hubs. According to regional authorities cited by Reuters, debris from the strike hit a trans-shipment facility and several coast-side structures, immediately stoking fears of supply disruptions.Oil prices are also gaining support from risks surrounding upcoming United States (US) sanctions targeting Russian Oil flows, which come into…
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Alex Wickham, political editor for Bloomberg UK, posted on his X account that “Rachel Reeves received an improved fiscal forecast from her budget watchdog putting the fiscal hole at £20 billion, leading her to drop plans to raise income tax rates according to people familiar with the matter”. “The latest update from the Office for Budget Responsibility moved in a significantly better direction due to the strength of receipts and stronger wage performance. As well as filling the £20 billion gap, Reeves is still expected to deliver headroom against her fiscal rules of between £15 billion and £20 billion”. “An…
Gold (XAU/USD) attracts some sellers following an intraday move higher to levels beyond the $4,200 mark and drops to a fresh daily low during the early part of the European session on Friday. A growing number of Federal Reserve (Fed) policymakers signaled caution on further easing amid the lack of economic data, prompting traders to trim their bets for another rate cut in December. This, in turn, is seen as a key factor acting as a headwind for the non-yielding yellow metal.Investors, however, seem convinced that weakening economic momentum on the back of a prolonged US government shutdown could allow…
The Heat Map Multi Color MT4 Indicator is designed to simplify trading by transforming complex price movements into visual cues. It uses a color-coded system to indicate market strength: strong trends appear in bold colors, while weaker trends are shown in lighter shades. This makes it easy to see when a market is trending or consolidating without analyzing multiple charts or indicators. By providing this visual representation, traders can quickly determine whether to enter, hold, or exit a position, saving time and reducing confusion in fast-paced trading environments. Key Features and Benefits This indicator offers several advantages for traders of…
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U.S. crude oil prices just jumped back to $60 before seeing pullbacks! Are we seeing the beginning of a longer-term uptrend? Or was today’s upswing a fluke? WTI Crude Oil (USOIL) 4-hour Chart by TradingView Earlier today, Ukraine’s drone strikes on Novorossiysk, Russia’s second-largest oil export hub, stirred up fresh supply concerns and helped push USOIL above the $60.00 psychological level. The jump pulled back some of USOIL’s downswing after OPEC’s latest report suggested that supply might match the demand in 2026 instead of slipping into a deficit. That outlook took a lot of steam out of the bulls. With…
Oil prices climbed more than 2% in early Friday trade after a Ukrainian drone strike damaged an oil depot in the Russian Black Sea port of Novorossiysk, one of Moscow’s key export hubs. Brent rose 2.1%, while WTI gained 2.4%.Local authorities in Russia’s Krasnodar region said drone debris struck three residential apartments, a trans-shipment oil depot and nearby coastal facilities. Novorossiysk is a major outlet for Russian crude and condensate exports, handling roughly 2.2 million barrels per day.Prices had stabilised on Thursday as traders weighed the impact of sweeping U.S. sanctions on Russian oil giants Lukoil and Rosneft, which take…
Check out this fresh ascending channel forming on the 4-hour time frame of CHF/JPY! Is the pair gearing up for another pullback to the support zone? Here are the correction levels worth keeping tabs on: CHF/JPY 4-hour Forex Chart by TradingView This yen pair has been forming higher lows and higher highs connected by an ascending trend channel that’s been holding since mid-September, as safe-haven flows appear to be favoring the lower-yielding franc. Price is stalling at the channel top, which coincides with R3 (194.62) and could retreat back to nearby support levels marked by the Fibonacci retracement tool. Are…