EUR/USD 1.17827
0.224%
Gold 3339.98
0.422%
Oil 66.130
-0.276%
USD/JPY 144.336
-0.393%
GBP/USD 1.36754
0.146%
GBP/JPY 197.389
-0.230%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Germanys seasonally adjusted manufacturing orders month-on-month rate in May was -1.4%, in line with expectations of -0.1% and the previous value of 0.60%.On July 4, Xiaomi Motors official blog said that as the Xiaomi YU7 is about to start delivery, the new version of Xiaomis end-to-end assisted driving HAD will also be launched simultaneously. The entire YU7 series will be equipped with the 10 million Clips version of Xiaomis end-to-end assisted driving system when it is released, and SU7Pro/Max/Ultra is expected to start pushing in late July.July 4, European Central Bank President Christine Lagarde said on Friday that the EUs economic system needs to be more efficient and productive so that the euro can play an equal role with the dollar as the worlds most important currency. "Political leaders and policymakers need to get involved to make our economy more productive and efficient, and then the euro can become a major global currency."Futures July 4 news, 1. WTI crude oil futures trading volume was 680,832 lots, a decrease of 138,022 lots from the previous trading day. The open interest was 1,993,630 lots, a decrease of 9,845 lots from the previous trading day. 2. Brent crude oil futures trading volume was 149,874 lots, a decrease of 4,134 lots from the previous trading day. The open interest was 177,772 lots, an increase of 41 lots from the previous trading day. 3. Natural gas futures trading volume was 427,949 lots, an increase of 112,281 lots from the previous trading day. The open interest was 1,500,816 lots, an increase of 4,078 lots from the previous trading day.ECB President Lagarde: The EU needs to further reduce trade barriers and simplify regulatory measures within Europe.

WTI struggles to surpass $85.00 despite the fact that hurricane Fiona and US President Biden favor bulls

Alina Haynes

Sep 19, 2022 14:39

156.png 

 

After declining for three consecutive weeks, WTI crude oil prices posted modest gains around $85.30 during Monday's Asian session as traders prepared for the Fed's monetary policy decision. In addition to price-positive news from China and the United States concerning Hurricane Fiona, the price of black gold remains positive. In addition, statements from Vice President Joe Biden appeared to have supported oil prices during a lackluster session.

 

Recent information from the National Hurricane Core (NHC) indicates that the center of hurricane Fiona will approach the northern shore of the Dominican Republic tonight. The Reuters update also stated, "Hurricane Fiona is currently traveling west of Puerto Rico and is headed for the eastern Dominican Republic, producing devastating flooding."

 

The news that Dalian, a city in the Chinese province of Liaoning, will remove the citywide lockdown on Monday also seems to have supported the WTI recovery. On the same line, US President Biden is quoted as saying, "I'm more positive than I've been in a very long time." The national leader also claimed that inflation will be brought under control.

 

Nonetheless, the oil bears are optimistic due to the Fed's hawkish wagers and the economic concerns emanating from China and Europe. Initial September Consumer Sentiment readings from the University of Michigan came in at 59.5, up from 58.6 the previous month but below market expectations of 60.0. With the stronger US statistics, the probability of a 75 basis point (bps) rate hike by the Federal Reserve increased to over 80%, or 82% at the time of publication, while the market's estimates of a complete one percentage point increase in the Fed rate jumped to 18%.

 

In the future, demand concerns are likely to continue exerting downside pressure on the energy market, despite the fact that the absence of important data/events on Monday and hurricane updates are likely to assist the black gold in recouping recent losses.


Suggestion