WTI makes new recovery highs approach $66.00 [Video]

Dale J Pinkert Independent Analyst

WTI pushing toward new recovery highs near $66, with the Coach reviewing the upside objectives for crude. He also discusses both the bullish and bearish cases for the U.S. dollar, provides updates on the wheat accumulation trade alongside soybeans, and Dale covers the EURUSD rejection from the 1.2080 level.

Author

Dale J Pinkert

Independent Analyst

Former Member of the Chicago Mercantile Exchange (IOM Division), Dale's market forecasts have been aired on Financial Television and Radio station including CNBC.

EUR/USD loses the grip, returns to the 1.1900 region

EUR/USD now comes under a sudden bout of selling pressure, slipping back to the area of two-day lows near 1.1900 the figure on Thursday. The pair’s daily pullback comes on the back of the continuation of the rebound in the US Dollar as investors evaluate the Fed’s interest rate decision and rising geopolitical concerns.

GBP/USD drops to two-day lows near 1.3750

GBP/USD faces some increasing selling pressure, building on Wednesday’s losses and revisiting the 1.3750 zone on Thursday. Cable’s decline to two-day lows comes in response to the marked advance in the Greenback while traders have started to shift their focus to next week’s BoE gathering.

Gold melts, challenges $5,100

Gold accelerates its daily correction and retests the $5,100 region per troy ounce, turning negative for the day and fading the earlier bull run to all-time highs around $5,600. The precious metal’s steep sell-off comes on the back of the better tone in the Greenback and mixed US Treasury yields.