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WTI (OIL.WTI) jumped at the start of this week’s trading

It will takes about:

30/08/2021

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Morning news

Last updates:

 – US indices rallied on Friday after Powell stuck to his dovish narrative. Small gains on the US futures can be spotted at the start of a new week
– Bulls dominated during the Asian session. Nikkei and Kospi gained around 0.4%, S&P/ASX 200 moved 0.2% higher and majority of Chinese indices advanced
– DAX futures point to a flat opening of the European session
– Oil traders higher as most of the US oil production in the Gulf area has been halted due to hurricane Ida
– According to Reuters report, US army intercepted 5 missiles fired at airport in Kabul, Afghanistan
– Australian inventories increased 0.2% QoQ in Q2 2021 (exp. 1.1% QoQ)
– Japanese retail sales increased 2.4% YoY in July (exp. 2.0% YoY)
– New Zealand reported 53 new coronavirus cases, down from 81 and 83 reported on Saturday and Sunday, respectively. On the other hand, a record 1290 new cases were reported in Australian New South Wales region
– Bitcoin dropped below $48,000
– Precious metals trade lower with platinum being the only one that trades slightly above Friday’s close
– Oil and industrial metals gain. Agricultural commodities trade mixed
– EUR and JPY are the best performing major currencies while AUD and NZD lag the most
 WTI (OIL.WTI) jumped at the start of this week’s trading a tested resistance zone at 50% retracement of a downward move launched in early-July. ($69.50). Oil price is being supported by major shutdown of US oil production facilities in the Gulf region.


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