Crude Oil Futures: Some consolidation emerges on the cards

Pablo Piovano FXStreet

CME Group’s flash data for crude oil futures markets noted traders reduced further their open interest positions on Tuesday, this time by around 6.7K contracts. On the other hand, volume went up by around 57.4K contracts after three consecutive daily pullbacks.

WTI remains supported around $75.00

WTI prices charted an inconclusive session on Tuesday. The vacillating price action was on the back of shrinking open interest and a decent increase in volume. Against that, crude oil prices could maintain some consolidation below the $80.00 mark per barrel in the very near term.

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.

EUR/USD turns negative around 1.1600

EUR/USD is once again under selling pressure, sliding back towards the key 1.1600 support area amid a renewed upswing in the US dollar. The greenback has gathered further momentum after President Trump voiced praise for Kevin Hassett in connection with the Fed chair role.

GBP/USD trims gains, back below 1.33400

The current rebound in the Greenback prompts GBP/USD to surrender a big chunk of its earlier gains and slip back below the key 1.3400 mark on Friday. The marked bounce in the US Dollar followed the markets’ reaction to the likelihood that K. Hasset could become the next Fed Chief.

Gold weakens below $4,600 on USD rebound

Gold adds to Thursday’s small decline and breaks below the $4,600 mark per troy ounce at the end of the week. The precious metal’s corrective move comes on the back of easing geopolitical tensions and the late improvement in the Greenback.

Crypto Today: Bitcoin, Ethereum, XRP hold support amid waning retail demand

Bitcoin slips but holds above $95,000, weighed down by declining retail demand. Ethereum trades narrowly between the 100-day EMA support and the 200-day EMA resistance. XRP edges lower for the third consecutive day, driven by a persistently weakening derivatives market.

Week ahead – US PCE and Davos in focus for Dollar traders – BoJ meets

US PCE, PMIs and remarks from Davos could impact Fed cut bets. BoJ to stand pat; focus to fall on guidance after election reports. UK CPI and retail sales data may confirm bets of more BoE cuts.

Dash Price Forecast: DASH defies headwinds, paces toward $100

Dash extends its rally, reaching an intraday high of $96.85 despite the broader crypto market correcting. Retail interest in DASH explodes as futures Open Interest soars to $165 million.