18.09 - Commodities - Oil gains on tight supply expectations. Outlook for oil, gold, RUB
18.09.2023: USD continues gaining in value despite obstacles. Outlook for EUR/USD and GBP/USD
2023-09-18 18:14 UTC+3
18.09.2023: Calm before storm? Outlook for USDX, USD/JPY, AUD/USD, NZD/USD
2023-09-18 16:08 UTC+3
15.09.2023: Wall Street making downward retracement after yesterday’s rally (S&P500, USD, CAD, BTC)
2023-09-15 20:19 UTC+3
15.09.2023: US Dollar remains resilient to all headwinds. Outlook for EUR/USD and GBP/USD
2023-09-15 19:08 UTC+3
15.09.2023: Gold prices set to resume rally. Outlook for oil, gold, RUB
2023-09-15 15:41 UTC+3
15.09.2023: China puts pressure on USD, JPY loses hope for uptrend. USDX, USD/JPY, AUD/USD, NZD/USD
2023-09-15 13:34 UTC+3
14.09.2023: Wall Street less sensitive to inflation data than US Fed? (S&P500, USD, CAD, Bitcoin)
2023-09-14 20:03 UTC+3
14.09.2023: ECB’s decision hampers USD uptrend. Outlook for EUR/USD and GBP/USD
2023-09-14 17:21 UTC+3
14.09.2023: USD seeks reasons to soar. Outlook for USDX, USD/JPY, AUD/USD, NZD/USD
2023-09-14 15:39 UTC+3
14.09.2023: Oil prices to resume gains. Outlook for oil, gold, RUB
2023-09-14 15:21 UTC+3
13.09.2023: Wall Street puzzled as US CPIs paint mixed picture (S&P500, USD, CAD, Bitcoin)
2023-09-13 20:57 UTC+3
13.09.2023: Ready! Steady! Go! US dollar set to hit new highs. Outlook for EUR/USD and GBP/USD
2023-09-13 18:36 UTC+3
13.09.2023: Oil gains as experts predict tight supplies. Outlook for oil, gold, RUB
2023-09-13 16:11 UTC+3
13.09.2023: JPY’s rally on Ueda’s comments not sustainable. USDX, USD/JPY, AUD/USD, NZD/USD, USD/INR
2023-09-13 15:46 UTC+3
12.09.2023: Wall Street to retrace after rally of high-tech stocks (S&P500, USD, CAD, Bitcoin)
2023-09-12 19:09 UTC+3
12.09.2023: Markets anticipate key reports. Outlook for EUR/USD and GBP/USD
2023-09-12 17:32 UTC+3
12.09.2023: Oil market awaits US data. Outlook for oil, gold, RUB
2023-09-12 17:13 UTC+3
12.09.2023: AI boosts ‘Magnificent Seven’ stocks while USD shows resilience. USDX, USD/JPY, AUD/USD
2023-09-12 15:12 UTC+3
Forex forecast 09/12/2023 on EUR/USD, GOLD, Crude Oil and Bitcoin from Petar Jacimovic
2023-09-12 11:36 UTC+3
11.09.2023: Wall Street poised to open new week with gains (S&P500, USD, CAD, Bitcoin)
2023-09-11 20:42 UTC+3
Oil prices have been rising for nearly a month now. Slowly but surely, the asset is heading toward the level of 100 dollars per barrel.
This is partly due to the likelihood of increased demand from China, the world’s largest oil importer. Recent macroeconomic reports signal a gradual recovery in the country's economic growth.
At the same time, experts at the International Energy Agency warn that voluntary oil output cuts by Saudi Arabia and Russia could drive a substantial market deficit through the fourth quarter.
From a technical point of view, Brent crude continues to gain value, although it is extremely overbought. The asset has kicked off the new trading week by hitting a new local high, which indicates an inertial movement. If traders keep ignoring overbought signals, the benchmark will have every chance of rising to the psychological level of 100 dollars per barrel. At the same time, please bear in mind that sooner or later market participants will start locking in profits, which could lead to a steep drop in the quotes.
Judging by fundamental factors, there are two possible ways for the start of a correction.
The asset may enter a correction if the Federal Reserve raises the refinancing rate on Wednesday or signals a few more hikes in the near future.
Alternatively, if the outcome of the meeting does not evoke a strong market response, and the rhetoric of the US regulator turns out to be ambiguous, oil prices will extend gains, heading for the mark of 100 dollars per barrel, but then see a correction. In this case, a pullback will be much deeper as the market may be gripped by panic.
Meanwhile, gold has come close to 1,930 dollars per ounce and is likely to advance to $1,940 per barrel in the next couple of days. Its further dynamic will depend on the outcome of the Fed’s meeting. The central bank does not even have to lift interest rates. Hints of further rate increases will be enough to bring the yellow metal down to 1,900 dollars per ounce. If the US regulator raises the refinancing rate, gold will probably break below this mark and edge lower.
As for the situation in the Russian market, the Bank of Russia raised its key rate by another hundred basis points and announced its intention to further tighten monetary policy. However, the ruble failed to gain value. It just halted its slide. Probably, this can be attributed to large investors stating that such high interest rates are causing irreparable damage to the economy and are rather detrimental to the currency’s stability.
With many players trying to avoid risks and thus fleeing into more stable currencies, the situation becomes alarming. However, the regulator continues to ignore what is happening.
Despite a broad array of statistics and news releases, the dollar/ruble pair is still trading near the 97 mark. This indicates speculators’ interest in long dollar bets, as the market would otherwise see a price reversal.
In the meantime, the stock market is surprisingly strong. It is still moving upwards, with no signs of a decline. Apparently, there is little borrowed capital in the market. Another reason is that even if Russian institutional investors use borrowed funds, they borrow them at fixed rates. This adds to stability. Although it protects the market from sharp fluctuations amid the Russian central bank's decisions, it also limits its upside potential. It has been quite a long time since the start of the sanctions confrontation, which severely constrains the work of domestic investors in foreign markets. Thus, free capital seems to have ended up in the domestic market. So there is no place for new capital to come from. Moreover, extremely high interest rates make borrowed capital expensive. So, in the best-case scenario, the market may get stuck in the sideways range of 3,100 to 3,200.
That’s all for now. We wish you profitable deals. See you on our channel with a new video in a couple of hours!

00:00 Introduction
00:11 Situation on the oil market.
00:39 Brent
01:25 Two possible options for oil price correction
02:00 Gold
02:38 Interest rate of the Central Bank of the Russian Federation: consequences of an increase
03:11 USD/RUB
03:43 Russian stock market
04:54 Conclusion


FX Analytics - https://www.instaforex.com/forex_analytics
Forex Calendar - https://www.instaforex.com/forex_calendar
Forex TV from InstaForex - https://www.instaforex.com/instaforex_tv

Forex charts - https://www.instaforex.com/charts
Instant account opening - https://www.instaforex.com/fast_open_live_account
Forex Trading Contests - https://www.instaforex.com/forex_contests

List of official InstaForex blogs:

#commodity_market #oil #instaforex_tv
Calendar and reviews
Trader’s calendar on december 4-6: USD back to growth
Trader’s calendar on november 30- december 1: Possible recession in US under spotlight
Trader’s calendar on november 27-28: Consumption era fades?
Trader’s calendar on november 23-24: Usd Continues To Post Losses
Trader’s calendar on november 20-22: Global Economy At Crossroads
Trader’s calendar on november 16-17: USD lacks growth momentum
Editor's choice
Bangkok is the capital of Thailand and the largest city in the country with thousands of small and large enterprises. Its population numbers 15 mln. The rate of economic growth and the standard of well being transformed Bangkok to a famous financial center and a spot of attraction for the world business community. Today Bangkok can compete with such cities as Singapore and Hong Kong as it encompasses manufacturing, tourist, business, and other economic sectors. Bangkok is a perfect place for organization of investment conferences and business meetings. That is why InstaForex Company has several offices in the capital of Thailand, which enable cooperation with tens of thousands traders from this unique city.
Roman Tsepelev, Strategic Development Director at InstaForex, speaks about innovations that streamline trading process (ShowFx World Exhibition in Jakarta)
Trader’s calendar on december 4-6: USD back to growth
  • Grand Choice
    Contest by
    InstaForex always strives to help you
    fulfill your biggest dreams.
  • Tiền gửi lần truy cập
    Ký quỹ tài khoản của bạn với $3000 và nhận được $6000 nhiều hơn!
    Trong Tháng 12 chúng tôi xổ $6000 trong chiến dịch Chancy Deposit!
    Có được một cơ hội giành chiến thắng bằng việc ký quỹ $3000 vào một tài khoản giao dịch. Đáp ứng được điều kiện này, bạn trở thành một người tham gia chiến dịch.
  • Giao dịch khôn ngoan, thành công
    Nạp tiền vào tài khoản của bạn với ít nhất $ 500, đăng ký cuộc thi và có cơ hội giành được các thiết bị di động.
  • 100% tiền thưởng
    Cơ hội duy nhất của bạn để nhận 100% tiền thưởng khi gửi tiền
  • 55% Tiền thưởng
    Đăng ký tiền thưởng 55% cho mỗi lần gửi tiền của bạn
  • 30% tiền thưởng
    Nhận 30% tiền thưởng mỗi khi bạn nạp tiền vào tài khoản của mình
Không thể nói chuyện ngay bây giờ?
Đặt câu hỏi của bạn trong phần trò chuyện.
Widget callback