Crude Oil Futures: Further upside looks not favoured

Pablo Piovano FXStreet

Considering advanced prints from CME Group for crude oil futures markets, open interest dropped for the fourth session in a row on Tuesday, now by around 22.7K contracts. On the other hand, volume went up by around 13.5K contracts after three straight daily declines.

WTI: Next on the upside comes the YTD peak near $95.00

WTI prices resumed the uptrend on Tuesday, leaving behind the daily pullback seen at the beginning of the week. The daily bounce was on the back of shrinking open interest, however, hinting at the idea that the continuation of the move seems not favoured for the time being. In the meantime, the 2023 peak near the $95.00 mark per barrel remains as the next target for bulls.

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

GBP/USD drifts lower below 1.3250 on steady BoE rate path, traders await US jobs data

The GBP/USD pair loses traction to around 1.3240 during the Asian trading hours on Tuesday. A potential rate hike from the US Federal Reserve provides some support to the US Dollar against the British Pound. The US ADP employment data and the US Nonfarm Payrolls data will take center stage later this week.

EUR/USD looks to extend intraday descent below 1.1400

The EUR/USD pair attracts some sellers during the Asian session on Tuesday, snapping a three-day winning streak and stalling its recent recovery from the lowest level since May 2025 set last week. Spot prices slip below the 1.1400 mark amid a firmer US Dollar and seem vulnerable to weaken further.

Gold recovers slightly from YTD low; not out of the woods yet

Gold recovers slightly from its lowest level since November 2025, touched during the Asian session, albeit it sticks to a negative bias for the second straight day. Against the backdrop of renewed Mideast tensions, mixed signals on US-Iran talks assist the US Dollar to attract some dip-buyers and stall its recent pullback from the highest level since May 2025.

Ripple defends critical support, Stellar extends recovery

Ripple (XRP) trades around the key $1.00 psychological level, consolidating as the token awaits its next directional catalyst. Stellar (XLM) extends its recovery above $0.178 after posting modest gains at the start of this week.

Just like Fed, is BoJ’s independence under threat?

When talking about central bank independence, most of the focus has been on Donald Trump’s pressure on the Federal Reserve. But a similar story, a quieter one for now, seems to be happening on the other side of the Pacific: Japan’s government may be testing the Bank of Japan’s independence.

Kevin Warsh isn't expected to say much in Sintra: That's exactly why markets will listen

Financial markets could find an important catalyst in the enchanting, fairytale-like landscape of Sintra this week. The ECB Forum will, as it does every year, gather the crème de la crème of central banks. The new boss at the Fed, who has clearly said that the Fed should stop explaining everything, will need to talk – and traders should listen.