01.12.2022: Oil gains on Powell remarks. Outlook for oil, gold, RUB
27.01.2023: Wall Street evaluating consumer spending and corporate earnings.
2023-01-27 19:10 UTC+3
27.01.2023: US may avoid recession. Outlook for oil, gold, RUB
2023-01-27 15:14 UTC+3
27.01.2023: USD stuck in narrow range; outlook for USDX, USD/JPY, AUD/USD
2023-01-27 14:24 UTC+3
26.01.2023: Wall Street in limbo (S&P500, USD, CAD, Bitcoin).
2023-01-26 19:40 UTC+3
25.01.2023: Signs of recession in US may boost EUR and GBP. Outlook for EUR/USD and GBP/USD
2023-01-26 17:25 UTC+3
26.01.2023: Oil prices settle unchanged despite weaker dollar. Outlook for oil, gold, RUB
2023-01-26 16:21 UTC+3
26.01.2023: Speculators await crucial economic data; outlook for USDX, USD/JPY, AUD/USD, NZD/USD
2023-01-26 15:32 UTC+3
25.01.2023: Wall Street clouded by pessimism (S&P500, USD, CAD, Bitcoin).
2023-01-25 20:23 UTC+3
25.01.2023: USD to go on falling? Outlook for EUR/USD and GBP/USD
2023-01-25 18:12 UTC+3
25.01.2023: Oil prices pull back. Outlook for oil, gold, RUB
2023-01-25 15:08 UTC+3
25.01.2023: USD and JPY choppy ahead of crucial data; outlook for USDX, USD/JPY, AUD/USD, NZD/USD
2023-01-25 15:06 UTC+3
24.01.2023: Wall Street retreating from highs ahead of corporate reports from heavyweight companies.
2023-01-24 19:58 UTC+3
24.01.2023: Why traders expect depreciation of USD?
2023-01-24 17:59 UTC+3
24.01.2023: Oil, gold prices inch higher on broad dollar losses. Outlook for oil, gold, RUB
2023-01-24 16:27 UTC+3
23.01.2023: Wall Street trading cautiously, with eye on corporate earnings and forecasts.
2023-01-23 19:13 UTC+3
23.01.2023: Analysts foresee further USD’s weakness. Outlook for EUR/USD, GBP/USD.
2023-01-23 17:37 UTC+3
Forex forecast 01/20/2023 on EUR/USD, GOLD, Crude Oil and Bitcoin from Petar Jacimovic
2023-01-23 16:17 UTC+3
23.01.2023: Oil extends bull run. Outlook for oil, gold, RUB
2023-01-23 15:50 UTC+3
20.01.2023: Wall Street cheers news from Netflix (S&P500, USD, CAD, Bitcoin).
2023-01-20 19:41 UTC+3
20.01.2023: Currencies now depend solely on political factors. Outlook for EUR/USD and GBP/USD
2023-01-20 18:24 UTC+3
20.01.2023: Oil and gold prices rebound on China demand hopes. Outlook for oil, gold, RUB
2023-01-20 17:56 UTC+3
Once Jerome Powell hinted at a possible 50 basis-point rate hike in December, the dollar began to lose value across the board. As a result, the inverse correlation between the greenback and oil helped the latter rise above $86 per barrel.
At the same time, other factors such as potential output cuts by the OPEC+ oil producer group, lower demand from China, and the EU ban on Russian oil imports, remained intact, while a fresh news story just grabbed investors' attention.
Notably, if Brussels fails to agree on the Russian oil price ceiling until Monday, panic will sweep the market. In this case, energy prices will see an explosive rise at the beginning of next week.
So yesterday's rally was purely local in nature. In the short term, the situation still depends on the European Union.
From a technical point of view, Brent crude oil kicked off the new trading day with a price gap, which enabled it to overcome the level of 86 dollars per barrel. A full-fledged signal indicating a continued bullish run will be generated only after the price consolidates above $87. The volume of long positions will increase, thus pushing the quote up to the $90 mark. Alternatively, the benchmark may resume a downward move if it fills the price gap and fixes below 85.
Jerome Powell's comments on the regulator’s intention to slow down the pace of interest rate increases had a severe impact on gold as well. The yellow metal came close to $1,800 per ounce. At the same time, its rally was also fueled by preliminary statistics on inflation in the euro area. Data showed that consumer price growth slowed down to 10%, beating analysts’ forecasts. This means that the European Central Bank may also start tempering the pace of interest rate hikes soon. At the moment, all this contributes to higher gold prices. Thus, the metal may well exceed $1,800 per ounce in the near future.
Meanwhile, the ruble was probably the only currency that ignored both inflation data in Europe and Fed Chair Jerome Powell’s statement. The dollar is still trading around 61 rubles. Obviously, traders are awaiting the final decision of the European Union on the Russian oil price ceiling. This will naturally lead to a weaker ruble. However, when market participants shift their focus to Russia’s retaliatory measures, it will most likely recover.
According to technical analysis, the situation has barely changed since last week. In fact, the dollar/ruble pair continues to trade sideways just above the support level of 60. If the price stays firm above the 62 mark, the volume of long US dollar positions will increase. However, fundamental analysis experts predict that a possible rise in the greenback to 65 rubles next week will be followed by its gradual return to the area of 60 rubles.

00:00 Introduction
00:20 The situation on the oil market
00:40 Brussels is having second thoughts
01:06 Brent
01:45 Gold
02:33 RUR: Seeing and Hearing Nothing
03:05 USD/RUB
03:40 Conclusion


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