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Commoditytrading

Low inflation estimates reversed the greenback’s gainsEUR/USD 🔼 GBP/USD 🔼 AUD/USD 🔼 USD/CAD 🔽 XAU 🔼 WTI 🔼 After a long run of a strong dollar, investors are warming to the idea of slowing US inflation, expecting a falling CPI and a stagnant core CPI. As a result, other major currencies are able to recover against the greenback. EUR/USD retreated from a high of 1.0193 to 1.0119, while the latest German Economic Sentiment Index readings will be available later this afternoon. GBP/USD increased to 1.1679, the country still awaits what the new monarch and prime minister will bring to the country amidst a multitude of challenges. The Australian Consumer Sentiment Index rebounded to 3.9, and the AUD/USD currency pair then climbed and stabilized at 0.6880, finally closing at 0.6887. On the other hand, USD/CAD declined to 1.2991, gold futures were last traded at $1,740.6 an ounce after reaching $1,745.3. A standstill nuclear talks with Iran have stalled the hopes of adding one million barrels of oil per day to the market, hence WTI oil futures rose to $87.78 a barrel. More information on Mitrade website.
by Mitrade_official
Queen Elizabeth has passed away, ECB raised rates by 75 bpsEUR/USD ▶️ GBP/USD 🔽 AUD/USD 🔽 USD/CAD 🔽 USD/JPY 🔼 XAU 🔽 WTI 🔼 The United Kingdom is in a somber mood upon their Queen’s passing, GBP/USD fell to 1.15 with minor fluctuations. Across the English Channel, the European Central Bank has followed the Bank of Canada with an aggressive 75 bps rate hike, to a total of 1.25%. Meantime, EUR/USD traded flat and closed at 0.9994, just managed to recover to 1.0052 today. In the US, the Federal Reserve’s persistence to control inflation leads to a hawkish path of monetary tightening, overpowering the dovish Japanese yen, the USD/JPY pair was mostly stable and last traded at 144.09. On the other hand, USD/CAD closed lower at 1.3091, citing slightly higher oil prices. Crude Oil Inventories increased by almost 9 million barrels, despite the market estimating a minor depletion. Nonetheless, WTI oil futures moved up slowly to $83.54 a barrel. Gold futures rebound from a low of $1,715 an ounce to $1,720.2, closing with minor losses. Although Australia experienced lower inflation than other major countries, the Governor of the Reserve Bank of Australia did state it took the central bank by surprise, and AUD/USD dropped to 0.6751. More information on Mitrade website.
by Mitrade_official
Bank of Canada raised its interest rate by 75 bpsEUR/USD 🔼 GBP/USD 🔼 AUD/USD 🔼 USD/CAD 🔽 USD/JPY 🔼 XAU 🔼 WTI 🔽 Coinciding with the greenback’s softening, the Bank of Canada raised its interest rate by 75 basis points to 3.25%. USD/CAD rose to 1.3125, and USD/JPY reached a high at 144.99, then retreated to 143.7. EUR/USD briefly surfaced above the parity before closing at 0.9999, as the market expects a 75 basis points rate hike from the European Central Bank tonight. The Pound/Dollar pair closed higher with minor gains at 1.1525, after sliding to a low of 1.1413, not seen since 1985. Although the Australian trade balance only recorded an $8.733 billion reading, considerably lower than the original estimate of $14.500 billion. The GDP results were not far from the mark, a 3.6% quarterly increase enabled the Aussie to climb to 0.6769 against the US dollar. Gold futures recovered and stabilized at $1,727.8 an ounce as the greenback eased. Slowing global demands saw WTI crude futures returning to pre-Russian invasion levels at $81.94 a barrel. More information on Mitrade website.
by Mitrade_official
Why Rice Prices Determine the Direction of Interest Rates?Recently, I received questions asking my opinion on their borrowing cost, if they should go for fixed or float rates. We somehow know there is inflation, but not exactly sure how long it will last and how bad it will get. Because higher inflation leads to higher interest rates. While I cannot advise them as I do not have a banking license to do so. However, I can point them to the commodity markets, I hope by doing so, it can help them to understand and read into the direction of interest rates with greater clarity. Background on edible commodities: Rice is a staple in the diets of more than half of the world’s population, especially in Latin America, Asia, and the Middle East. Annual production of milled rice tops 480 million metric tons, which makes it the third most-produced grain in the world after corn and wheat. An increase in rice prices or edible commodities, it will really add pressure to the existing global inflationary pressure. Hardship will be more intense especially compare to other commodities like crude oil. In short, people can still live with some inconvenience without cars, but not without food. Therefore, when food prices become much more expensive, the central banks immediate and urgent measures is to counter it by rising interest rates. Content: . Why edible commodities determine the direction of interest rates? . Technical studies . How to hedge or buy them? Rice Market: 91 Metric Tons $0.005 = US$10 Example - $0.01 = US$20 $18.00 = 1800 x US$20 = US$18,000 From $18 to $19 = US$10,000 If you are trading this market for the short-term, do remember to use live data than delay ones. Disclaimer: • What presented here is not a recommendation, please consult your licensed broker. • Our mission is to create lateral thinking skills for every investor and trader, knowing when to take a calculated risk with market uncertainty and a bolder risk when opportunity arises.
CBOT:ZR1!Education
by konhow
USOIL Sep 2022 W.1: F&T ForecastFundamental Forecast -There are several stories unfolding in the energy space that should keep volatility elevated across energy markets, none of which are likely to find any permanent resolution anytime soon. -Net-long positioning in the oil futures market remains near its yearly low, and its lowest level since August 2016. -The IG Client Sentiment Index suggests that crude oil prices have a mixed trading bias Technical Forecast The trade ideas are derived from the both the monthly and weekly time frames. On the monthly, the price recently closed with a bearish candle below the mini double top neckline and in between the short-term moving averages, dis-confirming the bullish half a bat pattern and the moving averages bullish trend, in confirming a bearish drop for the 3rd Monthly Key Lvl/Monthly Neckline 3 together with the 21/50 moving averages. Monthly Chart: Weekly Chart rundown: As you see in the first chart image, we're looking a 3 possible scenarios that will either confirm or disconfirm the bearish bias. Starting with how it will be rejected, the price will do so after it has bullish broke and retested the Weekly Neckline together with the 50 and 8 moving average. If it bounces off the 2nd Daily Key with a bearish candle formation that leads the price to bearish break and retest the 1st Weekly Key Lvl either on the current or lower time frame, that will trigger and fully confirm the bearish trend. That's it for today. I hope you gained value from this trade idea. If you have a different concept in mind, feel free to share it in the comments section. I'd love to know your thoughts! Stay Blessed, Sphatrades.
TVC:USOILShort
by Doji-2k1
2
Cooled private employment readings lower nonfarm estimatesEUR/USD 🔼 GBP/USD 🔽 AUD/USD 🔽 USD/CAD 🔼 USD/JPY 🔼 XAU 🔽 WTI 🔽 Yesterday, the ADP Nonfarm Employment change tracking the private sector showed 132,000 workers joined the labor market, significantly lower than the expected 300,000. The lackluster result raised doubts about the nonfarm payrolls provided by the US Bureau of Labor Statistics, which also has a 300,000 estimate for the month of August. If the official figures also disappoint, the Federal Reserve is more likely to opt for a 50 bps rate hike rather than a 75 bps one. However, USD/CAD still managed to rise to 1.3127, currently trading at 1.3161, Canada's GDP growth was at 0.1% as predicted. USD/JPY first closed at 138.96, then reached a record high not seen after 1998, jumping to 139.53. Regarding other major currencies, EUR/USD briefly went below the parity level again, but soon recovered to 1.0057. Eurozone’s headline inflation rate slightly surpassed original projections at 9.1%, and investors expect tonight’s German retail sales to record fewer losses. GBP/USD slid from 1.1692 to 1.1622, while the Aussie declined to 0.6839 against the greenback. Gold futures declined to $1,726.2 an ounce. Yet another pipeline maintenance from Russia to Europe tightened the energy supply on the continent, and despite falling Crude Oil Inventories, WTI oil futures dropped and stabilized at $89.00 a barrel, before closing at 89.55. More information on Mitrade website
by Mitrade_official
Falling oil prices boost Euro above parityEUR/USD 🔼  GBP/USD 🔽  AUD/USD 🔽  USD/CAD 🔼  XAU 🔽  WTI 🔽 Crude oil prices have been suppressed by optimistic reports from Iran, Iraq, and Venezuela, all showing signs of increasing oil supply to the market. As a result, WTI crude futures lost almost $5.00 to $91.64 a barrel, Brent went below $100 to $97.84. Europe's energy shortage is then partially relieved, finally sending EUR/USD above parity to 1.0012, as the market awaits Eurozone and Germany's inflation data later today. Despite recession fears, the latest US Consumer Confidence and Job Opening provides positive readings, which may encourage the Federal Reserve to extend its series of aggressive rate hikes in September. USD/CAD climbed to 1.3092, gaining over 80 pips, and Canada will also announce its GDP tonight. GBP/USD dropped from a low of 1.1627 to 1.1655, while AUD/USD fell and stabilized at 0.6851. A stronger dollar once again held back gold prices, gold futures declined to $1,736.3, currently at $1,732.60 an ounce. Bitcoin briefly lost support at $20,000 and just rebounded to $20,233.0. More information on Mitrade website.
by Mitrade_official
Why Crude Oil is Trending Higher Again, Breaking Above US$100In this tutorial, I will explain both its fundamental and technical reasons for crude oil likely to break above and stay above US$100. I am having two portfolios at all times, one for long-term investing and the other for short-term trading. For the long-term I am mindful the current global inflationary pressure is real and it may last many months or even years ahead. Therefore, my current investment mandate: • U.S. stock markets – To trade them • Commodities – To buy them Disclaimer: • What presented here is not a recommendation, please consult your licensed broker. • Our mission is to create lateral thinking skills for every investor and trader, knowing when to take a calculated risk with market uncertainty and a bolder risk when opportunity arises. For your reference: NYMEX Crude Oil $0.01 = US$10 Example: From $94.00 to $100.00 (10000-9400) x US$10 = US$6,000
NYMEX:CL1!Education
by konhow
1
Dollar / Yen currency pair still going strongEUR/USD 🔼 GBP/USD 🔽 AUD/USD ▶️ USD/CAD 🔽 USD/JPY 🔼 XAU ▶️ WTI 🔼 Despite slowing against other major currencies, USD/JPY still reached 138.69 - a similar high as July, while USD/CAD declined and stabilized at 1.3000 to close at 1.3011. As interest rate decisions from Australia, Canada, and Europe are about to roll out next week ahead of the Federal Reserve, these currencies are able to resist the hawkish comments by Fed officials. EUR/USD moved up to 0.9995 with minor gains, failing to hold on above parity levels, as the market questions if raising interest rates are sufficient to curb raging inflation in Europe. The British Pound headed in the other direction, losing over 40 pips to 1.1707. AUD/USD traded flat at 0.6900 and was last traded at 0.6903. Gold futures had a breathing space when the dollar and stock train slowed, it has recovered from a low of $1,731.4 to $1,749.7, only making negligible differences. Stalled Iranian nuclear talks have rekindled supply fears for crude oil, and WTI oil futures climbed to $97.01 a barrel, especially when the OPEC+ meeting next week could further reduce oil production. More information on Mitrade website.
by Mitrade_official
Has Gold started to form a new demand area? Hi, and welcome to today’s video update. Our focus is on gold’s daily chart, and in our analysis video, we run over the levels we’re watching and review price action we are looking for. Gold could be starting to set up a new area of support, but we need to see this level hold today to give further credibility and, hopefully, confirmation. Sellers continue to test the area, but until we see a move through or close deep into the highlighted area, we will continue to look for buyers to fight back. Another level to keep an eye on is 109 on the USD index. This level has been putting up short-term resistance, and a weaker USD can help drive gold higher. We’d love to hear your comments. Do you agree? Is there anything else you would like to point out in the current picture? Thanks for stopping by. We hope you all are having a pleasant Tuesday. Good trading.
EIGHTCAP:XAUUSD
by Eightcap
USOIL - 240 MINS TIMEFRAME USOIL The Structure looks good to us, waiting for the this to correct and then give us these as shown on this instrument (chart). Note: its my view only and its for educational purpose only. only who has got knowledge in this strategy will understand what to be done on this setup. its purely based on my technical analysis only (strategies). we don't focus on the short term moves, we look for only for Bullish or Bearish Impulsive moves on the setups after a good price action is formed as per the strategy. we never get into corrective moves. because it will test our patience and also it will be a bullish or a bearish trap. we do not get into bullish or bearish traps. we anticipate and get into only big bullish or bearish moves (Impulsive moves). Just ride the bullish or bearish impulsive move. buy low and sell high concept. buy at cheaper price and sell at expensive price. Keep it simple, keep it Unique. please keep your comments useful & respectful. Thanks for your support....
TVC:USOILShort
by Tradelikemee
1
Hawkish Fed message extends greenback rallyEUR/USD 🔽 GBP/USD 🔽 AUD/USD 🔽 USD/CAD 🔼 USD/JPY 🔼 XAU 🔽 WTI ▶️ Last week, despite possible economic ramifications, Federal Reserve Chairman Powell reiterated the central bank’s priority to control inflation. As such, the US dollar continued its dominance over other currencies. USD/CAD rose to 1.3033, just reached 1.3065; USD/JPY added 100 pips to 137.52, then climbed to a month-high of 138.53. Parity once again eluded the Euro, EUR/USD declined from 1.0064 to 0.9961. Fueled by energy security fears, some European Central Bank members also agreed with Chairman Powell’s comments to bring further rate hikes. Meanwhile, GBP/USD fell to 1.1747, currently at 1.1668. The AUD/USD pair met resistance at the 0.700 level and returned to 0.689, Australian retail sales figures in July were at 1.3%, considerably more optimistic than the 0.3% forecast. Gold futures prices were held back by a strong dollar, closing at $1,749.8 an ounce and dropping over $20. Investors are still speculating about the possible outcomes of the Iranian nuclear deal and the OPEC+ meeting in September, WTI crude futures mostly traded flat at $93.06 a barrel. Bitcoin dived below the key level of $20,000 to a closing price of $19,771.8. More information on Mirtrade website.
by Mitrade_official
Greenback slows down for next Fed rate decisionEUR/USD 🔼 GBP/USD 🔼 AUD/USD 🔼 USD/CAD 🔽 XAU 🔼 WTI 🔽 US and Germany have recorded minor contractions in their respective economies at 0.6 and 0.1% respectively, with optimistic projections expecting growth to reappear in the short term. The greenback retreated slightly against other major currencies, EUR/USD slightly moved up to 0.9974, and the British Pound closed at 1.1829 with minor gains. The Chinese government has promised more stimulus packages to boost its economy, sending AUD/USD to 0.698 with minor oscillations. Although the US bond yield curve is still inverted, investors anticipated another rate hike from the Federal Reserve in September, USD/CAD then closed at 1.2924 and recovered to 1.2953. Gold futures took up the role of an inflation hedge, increasing to $1,778.2 an ounce, only to fall to $1,771.4 afterward. As the final draft of the nuclear deal is ready, awaiting Iran’s confirmation, the possible daily injection of 1 million barrels of crude oil into the market once again saw WTI oil futures dropping to 92.52 and stabilizing at 93.00. Later today, the US Core PCE Price Index and a speech from the Fed’s Chairman Jay Powell could prove to be insightful, but they are unlikely to confirm market bets of a 50 or 75 bps rate hike next month. More information on Mitrade website.
by Mitrade_official
Euro remained below parity against the greenbackEUR/USD ▶️ GBP/USD 🔽 AUD/USD 🔽 USD/CAD 🔼 XAU 🔼 WTI 🔼 Despite several attempts, the Euro met resistance and remained below parity, trading flat at 0.9965. Later today, the German and US Gross Domestic Product data will be available. Meanwhile, GBP/USD fell to 1.1797 with fluctuations. China’s latest stimulus package didn’t do much to cheer the Aussie, AUD/USD dropped to 0.6906, and just climbed to 0.6941. Recession fears kept underpinning the greenback, and to a lesser extent - gold. After retreating from 1.3018, USD/CAD closed lower at 1.2965, gold futures slowly ascended to $1,761.5 an ounce. Without any breakthroughs in the Iranian Nuclear deal, oil supply stagnated and was spooked by possible cuts from Saudi Arabia. WTI oil futures seesawed from a low of $92.92 a barrel to recover at $94.89, the latest Crude Oil Inventories have decreased by over 3.2 million barrels, much high than market projections. More information on Mitrade website.
by Mitrade_official
Crude Oil is once again probing its 200-day maCrude Oil is probing key resistance - a close above which is likely to suggest another leg higher. The Society of Technical Analysts' next course starts in October. Those wishing to learn more about technical analysis can take a look at the Route to Diploma - Society of Technical Analysts, www.technicalanalysts.com Disclaimer: The information posted on Trading View is for informative purposes and is not intended to constitute advice in any form, including but not limited to investment, accounting, tax, legal or regulatory advice. The information therefore has no regard to the specific investment objectives, financial situation or particular needs of any specific recipient. Opinions expressed are our current opinions as of the date appearing on Trading View only. All illustrations, forecasts or hypothetical data are for illustrative purposes only. The Society of Technical Analysts Ltd does not make representation that the information provided is appropriate for use in all jurisdictions or by all Investors or other potential Investors. Parties are therefore responsible for compliance with applicable local laws and regulations. The Society of Technical Analysts will not be held liable for any loss or damage resulting directly or indirectly from the use of any information on this site.
NYMEX:CL1!
by The_STA
Profit-taking halts the dollar's advanceEUR/USD 🔽 GBP/USD 🔽 AUD/USD 🔽 USD/CAD 🔼 USD/CHF 🔼 USD/JPY 🔼 XAU 🔽 WTI 🔽 A surge in dollar values throughout the first half of the day was followed by a decline against most of the dollar's key competitors. This was caused by unfavorable US statistics, such as the US Services S&P Global PMI dropping to 44.1. Manufacturing contracted at a slower pace than expected from 52.2 to 51.3. S&P Global PMIs for the majority of the main economies, however, showed sluggish economic growth and even recession, demonstrating it is a global problem. Prior to Wall Street's close, the dollar made some gains as risk-off flows persisted. In the midst of extreme overbought circumstances, the dollar's slide appears corrective. Investors were able to record some profits thanks to tepid US data, but a trend reversal is not evident. Fabio Panetta, a member of the ECB Executive Board, gave a bleak picture. He stated that when the likelihood of a recession rises, the central bank may need to further modify its monetary policies. In the meantime, speculative interest is gradually but steadily rising on a 75 basis point rate hike by the US Federal Reserve in September. The GBP/USD exchange rate is at 1.1830, while the AUD/USD rate is around 0.6920. The USD/CAD pair dropped significantly throughout the day, closing at 1.2950. Safe-haven currencies saw gains against the dollar, with the USD/CHF rate circling at 0.9640 and the USD/JPY rate trading at 136.77. The price of gold is currently up for the day at $1,7477 per troy ounce, while the price of crude oil has continued its recent rise amid market speculation that OPEC+ may reduce production. Currently, WTI is $93.60 per barrel. Asia's macroeconomic calendar will stay empty, with Wednesday's US Durable Goods Orders report taking center stage. More information on Mitrade website.
by Mitrade_official
Euro broke parity yet again against the greenbackEUR/USD 🔽 GBP/USD 🔽 AUD/USD ▶️ USD/CAD 🔼 XAU 🔽 WTI ▶️ The strong run from the US dollar has sent the Euro below parity once again, after a sharp drop to 0.9941. Russia also announced another natural gas supply cut in the coming weeks, aggravating the European energy woes. Later tonight, the Purchasing Managers Index for the Eurozone, Germany, and the UK will be available to update the situation in the manufacturing sector. Although the Iranian nuclear deal is yet to be finalized, Saudi Arabia already warned to reduce oil production in the face of falling prices and a possible increase in supply. As a result, WTI oil futures recovered from a low of $86.44 a barrel, then closed at $90.36 at the same level. Greenback's dominance has overshadowed its peers, GBP/USD declined to 1.1765, and USD/CAD rose above the 1.3000 level to 1.3057. Meanwhile, the AUD/USD experienced minor oscillations but mostly traded flat at 0.6875. Gold prices remained under fire, losing over $15 to 1,748.4 an ounce. More information on Mitrade website.
by Mitrade_official
Interim Bulls could not halt the strong bearish XAUUSDGold against Dollar have been in a bearish trend way from Aug 15th, 2022 from the price of 1800 and last week its continues the downward trend and breaks the 1750 zone of concern , 1750 is the zone of PUSHING DOWN, whenever the price breaks 1750 , it never missed to touch the support zone of 1683, this zone tested multiple times This week , price may test the zone of 1750 again going down, there is a support available at 1735 , if it breaks further down , it will test down 1700 again
OANDA:XAUUSDShort
by Akfx369
GOLD Aug W.4: Long-term trend alert!Hi friends, I hope y'all had a fantastic weekend, and are ready to tackle this week strong ;) Today, we're looking at a possible long-term drop on this baby. These trades are derived from both the weekly and monthly. Starting with the monthly, the price is in the huge double tops 2nd leg formation that is bouncing off the bullish crossed short-term moving averages with a bearish shooting start candle pattern, triggering what I call a "Double Top A-E.1 signal". The weekly, on the other hand, is currently bearish running in the double tops L2 and below the 50 moving average and bearish crossed short-term moving averages (8 and 21), triggering what I call a "Double Top A-E.1 signal", but it hasn't fully confirmed. Let us take a look at how this signal and its trades will trigger, and how it won't fully confirm our bias. Bulls: -If the price bullish rallies to break and retest the 2nd Weekly Key Lvl and 8 m.a, that will dis-confirm both the weekly and monthly signals, and the price would be in prep to form a bullish reversal pattern that will be followed by a bullish trend. Bears: -If the price bullish spikes or retests the Weekly Neckline 3 or 2nd Weekly Key Lvl and 8 m.a with a bearish candle pattern or reversal candle pattern formation/close (1st trade signal) that leads the price to bearish break and retest the Mini Daily Half a Bat Neckline (2nd trade signal), that will confirm our bias and the price will drop for this timeframes double top L3 and the monthly's double top accumulation phase. That's it for today. I hope you found value in this trade idea. If you have a different concept in mind, feel free to share it in the comments section, I'd love to know you thoughts! Stay Blessed.
FOREXCOM:XAUUSDShort
by Doji-2k1
Market split bets on the next Fed rate hikeEUR/USD 🔽 GBP/USD 🔽 AUD/USD 🔽 USD/CAD 🔼 XAU 🔽 WTI ▶️ There is a month between now and the next US Federal Reserve interest rate decision and the investors are undecided about how high it would be. Given the falling gas prices, strong labor market, and the looming recession, the US central bank could favor a 50 bps rate hike. On the other hand, the latest comments from Fed officials maintained they are adamant about controlling inflation to 2%, hinting at another 75 bps rate hike. As a result, the greenback extends its strong run against its peers. EUR/USD slid to 1.0034, and despite having slightly optimistic retail sales readings, GBP/USD stabilized at 1.1820 and closed at 1.1827. The Aussie was held back by a sluggish Chinese economy, AUD/USD went below 0.7000 to 0.6872, while USD/CAD climbed to 1.2993 and edged towards 1.3000. With another rate hike marked on the calendar, gold’s safe haven status was overshadowed by the US dollar, gold futures declined to $1,762.9 an ounce. Oil prices were stuck between prospects of Iranian oil entering the market and a possible recession, which ended up closing at $90.44 with little change. In US stocks, Bed Bath & Beyond (BBBY) enjoyed a rapid rise that reached meme status, but it just lost 40.54% of its market cap, after a major shareholder sold his entire stake. More information on Mitrade website.
by Mitrade_official