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WTI Crude Oil finished the week of trading slight below its starting point last week.
Get the weekly Forex forecast for major currency pairs for the week of May 13-18, 2024 here.
The upwards wave of buying began on Thursday and built into a powerful move Friday with the publication of U.S jobs data.
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WTI Crude Oil which has been flirting with higher prices and testing resistance on a fairly regular basis a bit over the past month suddenly found selling pressure build.
The US Federal Reserve maintained unchanged interest rates at its policy meeting, assuring there would be no rate hike and committing to rate cuts as soon as inflation allows, indicating a dovish tilt.
Get the weekly Forex forecast for major currency pairs for the week of May 06-11, 2024 here.
The downwards selling in the GBP/USD continued early last Monday, but then a reversal upwards started to be seen.
WTI Crude Oil finished the week of trading near the 83.640 level, this after attaining a high earlier on Friday near the 84.450 mark.
Get the weekly Forex forecast for major currency pairs for the week of April 29- May 4, 2024 here.
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The EUR/USD finished the week of trading near the 1.06520 mark, on last Monday the EUR/USD also was around this price vicinity.
Hawkish remarks from Fed Chair Powell and ongoing tension in the Middle East saw the US Dollar continue to gain while stocks and most commodities sold off firmly, excepting precious metals.
The price of WTI Crude Oil started last week around the 85.000 ratio, this after the previous weekend’s loud developments between Iran and Israel.
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Get the weekly Forex forecast for major currency pairs for the week of April 22-27, 2024 here.
The GBP/USD which had been trading high on late Tuesday and seemed to be sustaining value on Wednesday, abruptly was walloped by stronger than anticipated U.S CPI.
Higher than expected US inflation data and tension in the Middle East saw the US Dollar gain while stocks and most commodities fell.