|Bid||20.35 x 1200|
|Ask||21.19 x 3000|
|Day's Range||0.00 - 0.00|
|52 Week Range|
|PE Ratio (TTM)||N/A|
|YTD Daily Total Return||34.15%|
|Beta (5Y Monthly)||2.09|
|Expense Ratio (net)||0.90%|
On paper, the trade deal is a positive event, but there are problems with the details that could encourage investors to book profits after the current prolonged rally. The overall market is viewing the event as positive, but the price action on Friday suggested it may have already been priced into the market.
It was a big week for the global financial markets. The FED delivered for Trump, with Trump delivering a phase 1 deal and Johnson crushing the opposition.
Crude oil markets rallied a bit during the week, into what muted trading. However, we have aggressively attacked of resistance, and at the end of the week it looks as if we will continue to see buyers make a stand.
Crude oil markets have run into a significant amount of resistance during the trading session on Friday after showing a lot of promise. The US/China trade war has resulted in a signing of a “phase 1 deal” on Friday, but there is still a lot of uncertainty.
Crude oil prices continue to head higher, with gains of over 1 percent on Friday. I expect crude to continue to move upwards and to breach the symbolic $60.00 shortly.
The U.S. Dollar has plunged against a basket of currencies this week as investors reacted to three major events: the Federal Reserve policy statement, the U.S-China trade deal and the outcome of the U.K. elections. A weaker U.S. Dollar tends to make dollar-denominated crude oil more attractive to foreign buyers.
I just knew last night was going to be a game-changer. Thankfully Grab food operates 24 hours in Bangkok, and the coffee cupboard was stocked. As we finally have a Phase one trade deal signed sealed and delivered.
Crude oil markets rallied a bit during the trading session on Thursday, as we continue to press major resistance. At this point in time though, we simply don’t have enough momentum to go anywhere.
OPEC and the IEA appear to be at odds about supply in 2020, however, the focus for investors at this time is really on future demand growth. Helping to generate concerns about demand growth is the lingering battle between the world’s two biggest economies – the U.S. and China.
US equities strengthened US 10-year treasury yields slipped lower, however, down 5bps to 1.79%, providing a fillip to gold prices. But until we ultimately clear the Brexit and US-China risk, the market could struggle to trade directionally.
Crude oil markets pulled back a bit during the trading session on Wednesday, reaching towards the round figure underneath before bouncing slightly. That being said, there are a lot of crosswinds right now when it comes to crude oil.
Crude oil prices have slipped 1% on Wednesday, after a key crude inventory report surprised the markets with a surplus. We could see further movement from crude, as the Federal Reserve releases its rate decision at 19:00 GMT.
WTI Crude oil continues its slow grind higher towards $60/b. Support has been provided by tight seasonal market conditions, trade talk hopes and most recently the decision by the OPEC+ group to lower their production ceiling. Later today the market will focus on the weekly stock report from the US Energy Information Administration.
The direction of the crude oil market on Wednesday will likely be determined by trader reaction to the U.S. Energy Information Administration’s weekly inventories report, due to be released at 15:30 GMT. It is expected to show a 2.9 million draw down. If the report shows a build like the API report then look for a steep decline.
Crude oil markets had a slightly positive session on Tuesday, as we press major resistance barriers above. With the recent OPEC cuts and the potential of the US/China trade deal working out, that could send the markets much higher. However, there is a line of supply to work through just above on the chart.
Crude prices are calm, but that could change on Wednesday, when the Federal Reserve releases its monthly rate decision. A vote of confidence in the economy from the Fed could boost crude prices.
Market participants find themselves amid relatively calm waters, as investors count down the days to President Trump’s December 15 tariff deadline.
Trade deal worries and concerns over compliance with the OPEC+ production cuts seem to be putting a lid on crude oil prices. We may need a positive breakthrough in the trade talks to launch this market higher.
Crude oil markets initially fell during the trading session on Monday but have turned around to show signs of support. Ultimately, the market looks as if it is trying to reach the top of consolidation.
Crude oil is slightly lower on Monday, after gaining an impressive 6.7 percent last week. Investors are looking ahead to U.S. inflation and the Federal Reserve rate decision, either of which could affect the direction of crude prices.