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Energy Markets Benefit From Softer Greenback

COMMODITIES
  • The greenback is extending it's post-Fed pullback ahead of NY hours Thursday, putting the USD Index at its lowest levels since the end of June. As a result, commodity markets have been buoyed from the off, with WTI futures showing back above the $73/bbl level.
  • Attention turns to the raft of US data due later today, with GDP, pending home sales and weekly jobless claims data on the docket. EIA NatGas Storage Change also crosses, with markets expecting a build of 42BCF in the most recent week.
  • Gold has recovered from recent lows and support has remained intact. The outlook is bullish and the recent pullback is considered corrective. Price however needs to clear $1834.1, Jul 15 high to confirm a resumption of the bull cycle.
Energy BulletsCommodities
Energy BulletsCommodities

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