Crude Oil futures extended its gains on Wednesday trading at roughly $68/barrel, a high not seen since October 2015. The rally came on news that major oil supplier, Saudi Arabia, is targeting futures prices of $80/barrel. Simultaneously, government data released by the U.S. Energy Information Administration reported U.S. stockpiles fell last week by 1.1 million barrels. Last week’s decline in supply caught many analysts off guard who were expecting an increase of 600K barrels. Read More
During intraday trading on Tuesday, the British Pound inched its way to its highest level against the dollar since Brexit. The nearly two year slump started on June 24th, 2016 when the sterling saw the largest single day drop of any major currency in history as Britain voted to officially leave the EU.
The rebound has been backed by a number of factors surrounding optimism over the pending Brexit process, rate increases and a declining dollar spurred on wariness about U.S. trade policy and continued turmoil in the White House.
While the Pound continues to flirt with its recent intraday high reached in late January, Tuesday’s much anticipated labor data fell short of expectations. Wage growth missed predictions of 3% holding steady at 2.8%. Upcoming inflation data released on Wednesday is sure to be closely monitored by forex traders.
Currently trading in overbought territory as it trades outside of the upper Bollinger Band, coupled with the strong psychological resistance level of 1.43, GBPUSD traders should remain vigilant of potential pullbacks. A close above 1.43 could send the forex pair to continue recording higher highs not seen since the Brexit announcement.
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Palladium futures are on track to close out the week up nearly 80 points as supply concerns over a fresh round of US imposed sanctions on Russia, the world’s top palladium producing country, pull the commodity into bearish territory. Read More
Crude Oil futures climbed in back to back trading sessions as tensions over a potential trade war temporarily ease while geopolitical concerns surrounding Syria take the reins.Read More
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After February’s solid showing of 313K new job additions, economists suggested the market could be hard pressed for a strong March to follow suit. However, according to payroll processor, ADP, March produced a total of 241K private sector jobs, beating expectations of 205K – 210K.Read More
Dow futures fell hard ahead of Wednesday’s open sparked by resurfacing fears of a trade war with one of the United States’ largest trade partners, China.Read More
In addition to basic order types such as Limit Orders & Stop-Market Orders, there are also more advanced order types which can be valuable tools in a trader’s arsenal.
This article will cover the following three advanced order types:Read More
The turbulent E-mini S&P 500 has experienced a wide trading range since the early February sell off. Spurred on fears of inflation, trade war, tech stock slumps and the potential for the Fed to introduce an additional rate hike, the ES has been on a wild and bumpy ride.Read More