Technical Outlook

US crude stocks show record weekly rise

US crude inventories rose by 15.2 million barrels in week to 3 Apr, in the biggest weekly crude stocks rise in the history. The news were not a big surprise to the markets, although consensus was much lower (9.2 mln bls) after previous week’s build of 13.8 million barrels. In the situation when the world is paralyzed by coronavirus pandemic which…
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Euro falls after Eurogroup failed to agree on funding aid

The Euro was down 0.5% in Wednesday’s Asian / early European trading weighed down by failure of EU financial ministers to agree the way of funding economy package. Fading risk mode on increased death toll on COVID 19 adds to negative near-term outlook and keeping the single currency in red. Fresh weakness erased approx. 50% of Tuesday’s 1%…
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The Euro enters corrective phase after six-day fall

The Euro moved higher in early Tuesday’s trading, inflated from weaker dollar, bouncing from new two-week low at 1.0768, posted after six-day fall. The action is supported by rising momentum (approaching the borderline of positive territory) and stochastic about to emerge from oversold zone, but so far looks like correction as bears generated…
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