
Lowest Oil Prices Since February Encourage Peak Inflation
Oil prices kept falling and should reinforce the idea of peak inflation, which appears to be adequate to underpin the markets for the time being.
Oil prices kept falling and should reinforce the idea of peak inflation, which appears to be adequate to underpin the markets for the time being.
Gold prices continue to rise, up more than 3% on the week. Rate-sensitive assets are likely to be supported in the short term by the decline in U.S. Treasury yields.
Despite the recent pushback from Fed officials, markets are still running “risk-on” following last week’s Fed meeting that suggested a slower path of rate increases.
As the 50 Day EMA entered the picture during trading on Wednesday, the silver markets started to retreat somewhat.
Early on Wednesday, natural gas markets saw a very tiny recovery, but it still appears that problems will persist going forward.
The gold markets attempted to surge once more during the trading session on Wednesday, but the 50 Day EMA remains something of a hurdle.
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WTI had a modest recovery on Tuesday, but was unable to remain above its 200-day moving average (DMA) of $95. Geopolitical tensions between the United States and China were in the spotlight during Nancy Pelosi’s visit to Taiwan. Copper and gold prices were negatively impacted by the resultant strength of the U.S. dollar, which was compounded by an increase in yields.
Tuesday’s trading session witnessed a further decline in natural gas prices, with the 50-day exponential moving average (EMA) now in sight.
The silver market has pulled back from the 50 Day Exponential Moving Average (EMA) during Tuesday’s session, as volatility remains high.