London GMT New York Tokyo Moscow
Premium Calculator
TOP Brokers *
* Rebate per 100,000 EUR/USD lot
<a href="//www.instaforex.com/">Forex Portal</a>
January 4, 2019

Oil Price Volatility Persists

USOil, H1 & Daily

USOil prices are up 2.2% at $48.00, earlier printing a 17-day high at $48.30. This is the third consecutive day of gains, and comes amid a recovery in global stock markets and associated revival in risk appetite. Expectations for a strong December jobs report out of the US today, which juxtaposes expectations for neutral Fed policy before an ultimate rate cut at the 18-months horizon, have lifted spirits. There is additionally a degree of optimism about the U.S.-China trade talks slated for January 7-8 in Beijing as increasing signs of real-world impact of the trade spat raises the incentives on both sides for compromise. China also pledged to step up “countercyclical adjustments” of macro policies.

S&P 500 futures have rebounded by 1.5% after the cash version of the index closed yesterday 2.5% for the worse. Japan’s Nikkei 225 still closed 2.6% down in catch up trade as Tokyo markets reopened after a protracted break, while China, along with other Asian and European bourses have rallied. USOil prices are now up by 6.0% in a week, but are still down by 9% from last month and have remained stubbornly below the key 20-day moving average for 60 trading days. The RSI, MACD and Stochastic are all showing tentative positive signs. The psychological $50.00 remains key.

Click here to access the HotForex Economic calendar

Stuart Cowell

Head Market Analyst

HotForex

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

back
Found a mistake? Select it and press Ctrl+Enter.
Forex trading can involve the risk of loss beyond your initial deposit. It is not suitable for all investors and you should make sure you understand the risks involved, seeking independent advice if necessary. Risk Warning. Privacy Policy. Registration Agreement.