Commodities & Cryptos Oil Oil Cut, Gold Low, Bitcoin Stand

Oil

The price of crude oil is rising as energy traders prepare for a 10-point plan to reduce oil consumption and see if peace talks between Ukraine and Russia can be improved. Oil remains a commodity in both directions, but the geopolitical threat does not seem to disappear anytime soon, so $ 100 could remain here. “I have no doubt that Ukraine will be a full member of the European Union,” said Russian President Vladimir Putin.

Oil is likely to rise even if we see some declining demand in the next two months. The oil market is still very narrow and the United States is unlikely to gain Chinese support to make life difficult for Russia. Great stability in the Ukraine war still seems far-fetched and this should support the oil market here.

Gold

As investors continue to hold on to the federation’s new falcon position, the value of gold plummets against the board. The dollar is seeing huge revenues and this is a short-term concern for commodities. As investors worry about the impact of the war in Ukraine on inflation and final growth, the dollar will benefit from rising interest rates and safe havens. As treasury production rose sharply, gold was traditionally fought, but now the plateau trade has become a bulwark against bullying. Treasury short-term 2-year production rose 1.30% to 1.93% at the beginning of the month, and 1.70% to 2.14% during the 10-year period. Eventually, as the 10’s and 2’s are about to be overturned, that flight must be safe to use.

Gold may have a short-term future ahead with key $ 1900 level support. On the upside, gold could gain some resistance at the $ 1950 level.

Bitcoin

After many financial market activities, Bitcoin still seems to be stuck on the ground. Bitcoin’s key trading area remains at $ 37,000 and $ 45,000. Crypto traders should be surprised that Bitcoin is still hovering around $ 40,000, even though the dollar is rising, Bitcoin mining is declining and NFT interest rates are declining. If Wall Street could still throw billions of dollars into Wall Street, it looks like the next major step will be Bitcoin.

This article is for general information purposes only. It is not an investment advice or solution to buy or sell securities. Comments are authors; Not necessarily OANDA Corporation or any of its affiliates, branches, executives or directors. The trade-off used is highly risky and not suitable for everyone. You could lose all your deposits.

Ed Moya, with over 20 years of business experience, is a Senior Market Analyst with OANDA, up-to-the-minute market analysis, geopolitical coverage, Central Bank policies and market response to Enterprise News. His specialty is in a variety of assets, including FX, commodities, fixed income, stocks and cryptocurrencies. In the process, Ed has worked with some of the leading forex brokers, research teams and news outlets on Wall Street, including Global Forex Trading, FX Solutions and Trading Advantage. Most recently, he worked with TradeTheNews.com to provide market analysis on economic data and corporate news. New York-based Eid CNBC, Bloomberg TV, Yahoo! Financial Live, Fox Business and Sky TV. His views are widely regarded by the world’s leading news networks, including Reuters, Bloomberg, and the Associated Press, and regularly featured in major publications such as MSN, MarketWatch, Forbes, Breitbart, The New York Times, and The Wall Street Journal. Ed holds a BA in Economics from Rutgers University.

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