EUR/USD 1.15680
-0.086%
Gold 4211.19
0.010%
Oil 83.533
-1.878%
USD/JPY 160.178
0.135%
GBP/USD 1.34029
-0.094%
GBP/JPY 214.690
0.050%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
The French presidential palace stated that President Macrons attendance at the Franco-Italian summit will help deepen cooperation between the two countries in areas such as energy and defense.Britains new defense secretary: Investment plans are still being finalized.On June 12th, Morgan Stanley economist Bruna Skarica noted in a report that UK monthly GDP appears to be benefiting again from strong performance in the white-collar services sector, particularly the information and communications technology (ICT) industry. She pointed out that output in this sector is currently up 6.7% year-on-year, and has grown by 45.4% since the fourth quarter of 2019, while the overall economy has only grown by 6% during the same period. "It seems far from a coincidence that the sector most vulnerable to the rapid spread of artificial intelligence is simultaneously driving GDP growth and productivity gains," Skarica added. Given that the Bank of England stated last year that structural productivity growth in the UK was negative, the bank should comment further on this this year.On June 12th, HSBC analysts noted in a report that the US dollar is currently trading below levels implied by market expectations of US interest rates. They stated that the dollars reaction has been limited as recent market expectations have shifted from anticipated rate cuts to possible rate hikes. They believe this may reflect the loose financial environment in the US and market expectations for a resolution to the Middle East conflict. They added that the dollar needs clear stimulus from monetary policy. If the Federal Reserve fails to support rate hike expectations at next weeks meeting, the dollar "could be in trouble."On June 12th, analysts at Nomura Securities stated in a report that the Bank of England is likely to raise interest rates by 25 basis points in July to avoid the risk of a second wave of inflation. However, with inflation risks diminishing, they believe the Bank of England is likely to resume rate cuts in 2027. LSEG data shows that investors expect a 34% probability of a rate hike by the Bank of England in July.

Look at $82.75 on NYMEX crude oil

Oct 26, 2021 11:02

On Tuesday (October 12), international oil prices continued their upward momentum in the previous three trading days. Analysts said that the rebound in global demand and energy shortages in economies from Europe to Asia have driven oil prices to strengthen rapidly. NYMEX crude oil looks at US$82.75.

GMT+8 13:57, NYMEX crude oil futures rose 0.43% to 80.87 US dollars per barrel; ICE Brent crude oil futures rose 0.50% to 84.07 US dollars per barrel.


Overnight, the two cities respectively set a new high of US$82.18/barrel since October 29, 2014 and a new high of US$84.60/barrel since October 10, 2018.

Craig Erlam, senior market analyst at OANDA, said: "There is still a lot of momentum behind the oil rally, and the fundamentals are still extremely favorable. Even if we see oil prices return to triple digits later this year, it will not surprise us."

Driven by energy shortages in Asia, Europe and the United States, electricity prices have risen to record highs in recent weeks. The surge in natural gas prices has also prompted power plants to switch fuels from cleaner natural gas to oil.

Qatar, the world's largest producer of liquefied natural gas (LNG), told customers on Monday that it cannot help lower energy prices and supply more fuel to the market. Analysts estimate that the shift from natural gas to oil-based power generation may increase crude oil demand by 250,000 to 750,000 barrels per day.

On the daily chart, U.S. oil is in an upward ((3)) wave that started from $61.74, breaking through the 23.6% target of $78.37. The upper resistance looks at the $80 mark and ((3)) the 38.2% target of 88.66. Dollar.

On the hourly chart, oil prices are in five upward waves starting from $74.97, and the upper resistance looks at the 161.8% target of $82.75. Wave 5 is a sub-wave of the up (1) wave that started at $61.74. (1) Waves are the sub-waves of ((3)) waves.

Suggestion