Source: Bloomberg. OPEC+ is on a path for a clash with the United States as more members rejected President Joe Biden’s push for the group to raise oil production faster and help to cut gasoline prices. CL1! up +1.03% On Monday, Kuwait stated that the cartel should hold on to its plan to expand output gradually as oil markets were well-balanced. That followed supporting … [Read more...] about OPEC+ Headed for a Clash With Biden As Key Members Reject Call For Output Increases
UK Output Growth Accelerates for First Time in Five Months
Source: IHS Markit Output growth in the United Kingdom posted a slight improvement in October to mark the first acceleration in five months, on improved orders and employment. EWU is up 0.18% premarket. The seasonally adjusted IHS Markit/CIPS Purchasing Managers’ Index stood at 57.8 in October, above the 50 threshold that separates expansion from contraction.The latest … [Read more...] about UK Output Growth Accelerates for First Time in Five Months
AUDUSD Forecast Ahead of RBA and Fed Decisions
The AUDUSD price was under pressure on Monday morning as investors refocused on the upcoming interest rate decisions by the Reserve Bank of Australia (RBA) and the Federal Reserve. The pair declined to 0.7500, which was slightly below last week’s high of 0.7550. RBA decision The RBA started its two-day monetary policy meeting on Monday morning and is scheduled to publish … [Read more...] about AUDUSD Forecast Ahead of RBA and Fed Decisions
Know Sure Thing Indicator Guide
Know Sure Thing, popularly known as the KST, is a momentum oscillator that Martin Pring developed in the early 1990s. Advanced traders widely use the indicator to find bullish and bearish entry levels for an asset. Let’s look at the Know Sure Thing indicator, its differences from the MACD, and how you can use it well in the market. What is the Know Sure Thing … [Read more...] about Know Sure Thing Indicator Guide
Consumer Sentiment Slips on Inflation Uncertainties
Source: University of Michigan Consumer sentiment fell slightly in October due to the uptick in inflation and the declining confidence in government policies. The Index of Consumer Sentiment stood at 71.7, down 1.5% from September’s 72.8 and 12.3% lower than 81.8 the same month last year.Current Economic Conditions fell to 77.7, down 3.0% from September’s 80.1 and 9.5% … [Read more...] about Consumer Sentiment Slips on Inflation Uncertainties
