Energy news

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USD/CAD: Little Loonie support from oil; Reversal or Fakeout time?

Dollar supported as 10-year Treasury hits 4.34%, highest levels since financial crisis Oil market to remain tight, but so far offers little help for the loonie Loonie was having biggest intra-day gain since end of July The Canadian dollar has been steadily weakening against the greenback since the middle of July. The USD/CAD bullish uptrend appears to be facing some resistance as FX traders anticipate both the Fed and BOC are possibly one more rate hike away from being done with tightening. It

21-08-2023 13:24 GMT by Edward Moya

WTI Oil Technical: Potential bullish reversal to resume medium-term uptrend

The recent decline of -6.8% from its 10 August 2023 high has not damaged the medium-term uptrend phase of WTI oil. Today’s price actions have indicated a revival of a short-term uptrend phase. Watch the key short-term support at US$80.90. This is a follow-up analysis of our prior report, “WTI Oil Technical: Time for a potential short-term pullback” published on 15 August 2023. Click here for a recap. The price actions of West Texas Oil (a proxy of WTI crude oil futures) have indeed shaped the

21-08-2023 08:06 GMT by Kelvin Wong