Financial Analyst/Content Writer, RADEX MARKETS
Lawrence J. came from a strong technical and engineering background before pivoting into a more financial role later on in his career. Always interested in international finance, Lawrence is experienced in both traditional markets as well as the emerging crypto markets. He now serves as the financial writer for RADEX MARKETS.
PODÍL
The price of crude oil continues to dominate the headlines, for good reason. After visiting highs of $115 on Monday, the Brent Crude benchmark crashed all the way to $80 yesterday following remarks from a number of officials saying that the conflict in Iran was nearing an end. Prices are currently in the mid-to-high $80 range but are still extremely volatile, while markets remain sensitive to any new developments. The ongoing conflict has not yet fundamentally changed the global oil dynamic; the International Energy Agency still has 1.2 billion barrels of oil in reserves, plus another 600 million held in industry inventories, while oil producers in the US and around the world have made no steps to increase output or make new drilling commitments. Despite the current throttle on oil deliveries, supply and demand still favour the former, putting a cap on crude prices for the time being. A drawn-out conflict will immediately invalidate this stance however, hence the wild price swings observed over the last few days.
With all eyes trained on oil markets, precious metals have been all but forgotten in recent days. Gold has been relatively stable in light of Middle Eastern events, content to be ignored for now and maintaining its position around $5,200 per ounce. Silver has been the better performer so far this week, rising around 4% since Monday and pushing over $88 per ounce on Tuesday. It is worth pointing out that gold and silver are both down relative to their pre-conflict levels, suggesting the strength of the dollar remains the dominant force in precious metals. Speaking of which, there is only one week to go before the next FOMC meeting on the 18th of March and interest rate traders are now pricing in a rate hold with 99% certainty. As for economic data releases, the first batch of US inflation data is only hours away from hitting the newswires, while the more impactful PCE price index will arrive on Friday.
Obchodování s deriváty a pákovými produkty je vysoce rizikové a může vést ke ztrátám přesahujícím vaši počáteční investici. Před obchodováním si přečtěte naše Obchodní podmínky (T&C) a Dokument o zveřejnění informací o produktu (PDS).
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