Bullet Report | OIL trades at 11 month highs

Today’s Highlights will include ECB President Mario Draghi speech where the focus will be on additional comments following last week’s meeting. US will also release initial jobless claims which are related to the NFP numbers, and could spark volatility.

Currencies: Overnight, the NZD shot higher as the RBNZ kept rates unchanged at 2.25%. EURUSD is trading over 1.1400, with support level at 1.1375 and first resistance seen at 1.1432. GBPUSD fell to 1.45 yesterday on Poll results concerning the willingness of the British people to stay within the EU. Support is at 1.4422 while resistance is seen at 1.4569. Against the JPY, USD lost ground yesterday as the pair dropped to 106.50 on the back of negative risk sentiment (stocks falling) in Asia.

Stocks: Asian Stocks pushed lower overnight, despite US stocks closing at record highs yesterday. DJ closed above 18000 for the first time since April. In Europe, expectations are negative for stock indices performance today.

Oil and Gold: US Crude oil extended gains to reach on 11 month high of $51.67 a barrel. In addition to a weak USD, supply worries caused by a sabotage in oil facilities in Nigeria have been cited as reasons for the price rise. GOLD continued its advance to over $1260 as the NFP report continues to weaken the USD and boost commodities. Big resistance is seen at $1267.

The post Bullet Report | OIL trades at 11 month highs appeared first on Forex.Info.

Source:: Bullet Report | OIL trades at 11 month highs

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