U.S Crude Oil has continued to add to its climb which has been underway since June of this year. Important resistance levels are being approached and will be tested in the near term. OPEC will be conducting important production meeting next week.
Category : Commodities
Forex became range bound on Tuesday as global investors become cautious before their American counterparts disappear for a long holiday weekend. However, sudden surges can be expected the next two days as trading volumes evaporate. Gold remains tranquil, but Crude Oil has gained well the past day.
The Euro continues to experience headwinds as political concerns swirl in Germany. Gold saw resistance raise its ugly head on Monday as the precious metal was pushed lower. The Pound should be watched as Inflation Hearings are held in the U.K today.
The Euro has been sold off this morning as investors react to the failure of coalition talks in Germany, which have put Angela Merkel’s leadership into question. Gold has sustained its gains made late last week and will be speculative in the coming days if political anxiety mounts.
The U.S Dollar has been slightly stronger in early trading this morning. The Euro has given back gains made before going into the weekend, and the Pound has softened on news surrounding Prime Minister May’s vulnerable hold on power.