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Crude Oil & Gold Falls Ahead As Dollar, Yields Climb Ahead Of FOMC

COMMODITIES
  • Crude oil with higher yields and a stronger dollar ahead of tomorrow's FOMC decision weighing rather than clear idiosyncratic drivers. US Democrat Senator Manchin says the text of the energy bill will be released tomorrow, a plan that will include specific language about the mountain valley pipeline.
  • WTI is -1.5% at $84.45 as it moves back closer to the bear trigger at $81.2 (Sep 8 low).
  • Brent is -1.6% at $90.52, moving closer to support at $88.5 (Sep 19 low) after which sits the bear trigger of $87.24 (Sep 8 low).
  • Gold is -0.7% at $1663.90, remaining in a clear downtrend and next eyeing support at $1654.2 (Sep 16 low) after which would sit $1640.9 (Aug 8, 2020 low).
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