US Wrap

Markets might have only had a reduced session, but we again saw positive momentum particularly in oil.

Over the past few weeks, we’ve seen strong buying in WTI with prices now above the $75 mark. We must remember that 12 months ago, futures were trading in negative territory. Now with inflation running rampant and gas prices blowing up, could we again see $100 oil?

The other driver overnight was ‘OPEC+ ministers callling off oil output talks after the United Arab Emirates rejected a proposed eight-month extension to output curbs’.

The Data Agenda

In Europe, we will be watching German ZEW Sentiment in what has been a number on the decline, thanks to the actions of Angela Merkel.

For US traders, ISM Non-Manufacturing PMI is the main reading today.

Forex Signal Update

The FX Leaders Team hit 2 winners from 2 trades in what was a solid start to the week of trading.

We have nine open signals at the moment, so look to the forex signals page for all the latest developments.

XRP – Active Signal

XRP hasn’t been moving all that much and price has been trapped under 70 cents for some time now.

EUR/USD – Active Signal

The Greenback saw some weakness yesterday and that helped the EUR/USD push higher, however, we are still anticipating a break of the 1.1850 level.

Cryptocurrency Update

BTC has been soft over the past 24 hours and is currently under the $34,000 level. There’s been little by way of market-moving headlines for the past week and in reality, Bitcoin and the broader market has been range-bound for some time.