Following the stabilization of the Asian oil price, the international oil price shocks were traded on Monday (October 23). The instability in the Middle East and a decline in drilling activity in the United States have led analysts to warn that the us oil market is not as optimistic as the market expects.
U.S. WTI crude for December futures closed up $0.06, or 0.12 percent, at $51.90 per barrel on Monday, October 23. Brent crude for December delivery fell 38 cents, or 0.66 percent, to $57.37 a barrel, up 1.08% this week. Supply disruptions in Iraq and a decline in U.S. drilling have continued to support oil prices, but the dollar's rebound has limited the upside for oil prices. U.S. WTI crude oil futures hit a session high of $52.30 a barrel, while brent futures hit a session low of $57.28 a barrel.
Spot gold on Monday (October 23) was boosted by a huge bill to stop the rally, with us trading up to $12,83.28 an ounce and gold back to the 1280 mark. US President Donald trump reportedly told reporters on Monday that he was already very close to the new chairman of the federal reserve. After the news was announced, gold market appeared a lot of technical buying.
The Australian dollar was hovering near 0.7810 in morning trading on Tuesday (October 24).
The yen fell to a three-month low, as the yen fell to a three-month low on the weekend, when the ruling coalition led by shinzo Abe, the LDP's leader, swept the Japanese election
Trading strategies, the session is still tends to buy on dips dollar/yen, near a 112.10/30 began to do more, but because of day figure seems to be not so positive, the session is likely to continue to trading range near the current level.
The dollar bounced back to a week high, the pound fell more than 100 points, and Britain's inflation data could not offset the impact of the two commissioners' remarks. The dollar continued to bounce back on Tuesday as news of the super-hawkish Taylor, or the next fed chairman, affected. Late September import price index on U.S. rates and largest increase since June 2016 to further boost the dollar, beauty refers to the most high to high since October 10, high against the yen, the dollar refresh 5.
Gold is back on the bullish side despite the current bearish consolidation. Gold has entered the rising channel. The hour support was at 1284 low on October 11. Strong support is well above the July 10 high of 1204. Gold prices are expected to show upward pressure. In the long run, the technical structure shows that upward momentum is increasing. The rally needs to break through the high of 1392 on March 17, 2014. The main support was the low of 1045 on February 5, 2010.