WTI Crude Oil has turned in an upwards incremental price path since the last week in June. The commodity has gone into the weekend with a higher spot price and futures contracts all exhibiting flirtations with higher realms.
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Gold steady, silver breaks resistance, DAX consolidates. USD mixed across pairs. Key levels and trends for the week of July 14.
Markets enjoyed continued risk-on sentiment last week, especially in the USA with stronger than expected jobs and earnings data. However, that sentiment might take a hit this week as attention will turn to Trump’s tariff deadline which could see several countries being hit with higher US tariffs.
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The EUR/USD went into this week near the 1.17750 mark which was within the higher elements of its week’s long range, but day traders need to be prepared for the return of full volume and tariff rtetoric.
WTI Crude Oil went into this weekend near the 65.650 vicinity, but traders will need to treat this price cautiously as it opens tomorrow because of the holiday trading seen.
Markets stay bullish: metals, oil, and Bitcoin push higher. Stocks pull back slightly but show strong momentum.
The end of the Iran war with a clear US / Israeli victory and the possibility of an end to the war in Gaza, coupled with renewed risk-on bullishness which has sent US stock market indices to new record highs, is creating an increasingly strong risk-on environment that is seeing a major selloff in the US Dollar continue.
The GBP/USD has gone into this weekend near the 1.37164 mark. The currency pair produced another steady round of gains the past week as it broke through highs seen in late May and the first week of June.
WTI Crude Oil went into the weekend near the 64.330 price, but clearly that is not the full story for the commodity as it received international attention in the midst of the Middle East conflict.
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Major markets react to easing geopolitical risks. Crude dips, gold slides, and forex sees key breakouts in the week ahead.
The apparent destruction of Iran’s nuclear facilities a few hours ago will likely lead to a very volatile week in the commodities and stock markets, although it could be in either direction, depending upon whether Iran succeeds in retaliating, especially against the passage of crude oil through the Gulf.
Markets consolidate as Bitcoin, gold, and stocks stall. Key resistance levels ahead. Traders await catalysts this week.
The outbreak of war between Israel and Iran has sent Crude Oil soaring, boosted Gold as a safe haven, and has had a chilling effect upon stock markets. The progress of this war over the coming days will be closely watched by traders and investors, and will be the major market driver this week.
Weekly forex and market update with key levels, volatility signals, and trends across major pairs, gold, and Bitcoin.
Risk sentiment continued to improve this week, with early signs of a bullish reversal in the US Dollar dominating Forex markets, while stocks traded a bit higher, and commodities markets were dominated by the strong bullish move to a new 13-year high in Silver.