EUR/USD 1.17114
-0.019%
Gold 4690.49
0.037%
Oil 96.840
-0.137%
USD/JPY 157.874
-0.002%
GBP/USD 1.35183
-0.035%
GBP/JPY 213.424
-0.034%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
May 14th - The UK economy, which started the year strong, now faces risks due to the aftermath of the Iran war and the potential change of prime minister. Data released by the Office for National Statistics on Thursday showed that first-quarter GDP grew by 0.6%, up from 0.2% in the first three months, marking the fastest pace in a year. This figure is in line with the median forecast of economists and higher than the Bank of Englands forecast of 0.5%. The strong start to 2026 was largely due to strong growth in February, before the Iran war, when the economy grew by 0.4%. However, March growth also reached 0.3%, mainly driven by strong growth in the service sector. Economists had previously expected a slight slowdown in March growth. Despite the relatively optimistic economic situation, the Labour Party suffered a crushing defeat in last weeks local elections, making it difficult for Prime Minister Starmer to secure his position. Economists and investors warn that political turmoil will put pressure on the UKs economic outlook. This turmoil has already disrupted the bond market, pushing up borrowing costs for long-term bonds.On May 14th, Alibaba Cloud launched Wanxiaozhi 2.0, an enterprise-level AI website building platform. It provides users with complete services from website generation, domain name registration, website launch to backend management and operation. It can generate and launch a production-grade website that meets the users needs in as little as a few minutes.The speaker of the Philippine Senate announced that he will convene an impeachment trial for Vice President Sara Duterte on May 18.Lenovo Group (00992.HK) shares surged in the short term, currently up over 3%.The yield on Japans 20-year government bonds rose 8 basis points to 3.555%.

Brent Crude Rose 15% in A week Due to Australian Export Restrictions on Aluminum

Haiden Holmes

Apr 02, 2022 09:57

CRU1.png


The daily chart indicates that the price has recovered from the 50 MA and is now aiming for the 20 MA after three straight rising sessions. Since December, the long-term bull momentum has remained intact, as evidenced by the rising trend line connecting the lows.


The four-hour chart also demonstrates the price's strength, as the candlestick has now violated all significant moving averages and is stuck to an upward trajectory.


The next level of resistance is $3638, which will assist the metal in recouping all of its losses over the last two weeks. The price will be supported by the months-long trend line at roughly $3268 per ton.

Brent Crude Oil

Brent crude oil prices have been rising for six consecutive days and have jumped more than 6% to begin the new week. Brent Crude, the worldwide benchmark, is trading as high as $114.80 a barrel on Tuesday, having gained more than 15% in the previous week. The price increases as EU foreign ministers convene in Brussels to consider more measures against Russia.


Two weeks ago, the price of the most critical energy plummeted from a decades-high level and is now seeking to reclaim its peak. The daily chart indicates that the price has risen above the short-term indication and is now trading above the 20-day moving average, with the 50-day and 100-day moving averages still some distance away.


In the short term, the level of $117.4 will act as a critical stumbling block before the market re-enters the $120 plus zone. From the daily trend line, a support level between $108 and $109 may be seen.


Sentimentally, the RSI on the hourly chart has entered oversold territory, which might halt the bull-bias purchasing in the short term. However, the RSI level on the daily chart remains below the average for the last two months, indicating that the price may nudge higher.

Suggestion