EUR/USD pressured below 1.21
EUR/USD is trading below 1.21, consolidating Friday's losses as the market mood is mixed. Upbeat Chinese GDP and US stimulus are cheering markets while Italy's political crisis and the depressing coronavirus picture is weighing on sentiment.
Pompeo scraps Europe trip after EU leader calls Trump ‘political pyromaniac’
US Secretary of State Mike Pompeo has canceled a trip to Europe at the last minute after some European politicians and officials were publicly critical of Donald Trump’s role in last week’s storming of the Capitol.
House Democrats plan to vote Wednesday to impeach Trump
House Democrats plan to vote Wednesday to impeach President Donald Trump, House Majority Leader Steny Hoyer told Democrats on a caucus call Monday.
Oil Price Fundamental Weekly Forecast, Probably Due for a Correction
Oil prices are ripe for a correction in coming weeks if speculator-driven rallies are not backed by stronger fuel demand soon.
A Week Into Full Brexit, the Pain for U.K. Businesses Has Arrived
As Britain adjusts to life outside of the European Union, businesses are contending with delays, service cancellations, and piles of paperwork.
Asian Buyers Rush To Secure North Sea Oil After Saudi Surprise Cut
Saudi Arabia’s surprise announcement that it would cut 1 million barrels per day (bpd) beyond its share of OPEC+ cuts in February and March has refiners in Asia scrambling to secure supplies from Europe.
The Real Crisis For Oil is Yet To Come
Italian energy major, Eni, described 2020 as a “year of war”, regarding the energy crisis experienced in the face of a global pandemic. But it may be too soon to see the issues faced last year as a thing of the past.
Natural Gas Markets Stall
Natural gas markets shot higher during the week but have ended up forming a shooting star. It sits just above the 200 week EMA, so that could attract attention.
Gold price getting crushed
Trillions of dollars were pumped into financial markets in 2020 and that won't come without consequences. Economists expect that investors will be Bracing For Inflation in 2021.
Oil Steadies Near $50 After Surging on Surprise Saudi Output Cut
Oil steadied in Asia after surging to a 10-month high on Saudi Arabia’s pledge to cut an extra 1 million barrels a day of crude output in February and March as a rampant coronavirus leads to more lockdowns.