That's up $0.31 or 0.53%. The high price reached $59.64. The low price was at $58.37.The EIA weekly inventory data showed larger than expected builds:Crude oil 0.574 million versus -0.821 million estimate.Distillates +2.059 million versus +0.707 million estimate.Gasoline 4.518 million versus 1.468 million estimate.Technically, the price trading mostly above its rising 100 hour moving average at $59.07, but is settling below that level.
Source: Finnhub
USD/JPY has declined to a new session low, currently testing the crucial 155.00 support level as selling pressure intensifies. The pair has fallen approximately 0.5% (75 pips) from the day's highs, reflecting renewed yen strength amid risk-off sentiment in global markets. Technical indicators suggest bearish momentum is building, with the pair breaking below key moving averages and previous support zones. The 155.00 level represents a significant swing area that has acted as both support and resistance in recent trading sessions. A decisive break below this threshold could accelerate losses toward 154.50 and potentially 154.00, where the next major support cluster resides. Traders are closely monitoring this technical breakdown, particularly given the Bank of Japan's recent hawkish rhetoric and the potential for intervention if yen weakness persists. The immediate resistance now sits at 155.50, with stronger barriers at 156.00.
USDJPY
Sentiment:
Negative
Source: Finnhub
The US Dollar Index has declined 0.5% to 105.20 as global markets increasingly price in Federal Reserve rate cuts for early 2025. Growing expectations of monetary easing have emerged following recent economic data suggesting cooling inflation and moderating labor market conditions. Market participants now assign a 75% probability to a 25-basis-point cut at the March FOMC meeting, up from 60% last week. The dollar's broad-based weakness has benefited major counterparts, with EUR/USD gaining 60 pips to 1.0580 and GBP/USD advancing to 1.2720. Technical indicators show the DXY approaching critical support at 105.00, which if broken could accelerate selling pressure. Treasury yields have also retreated, with the 10-year falling to 4.15%, further undermining dollar strength. Traders should monitor upcoming US economic releases, particularly Friday's NFP data, which could either validate or challenge current rate cut expectations.
EURUSD
GBPUSD
DXY
Sentiment:
Negative
Source: Marketaux
USD/JPY has broken below the psychologically important 149.00 level, declining 0.8% (120 pips) to 148.65 in today's session. The bearish momentum accelerated after failing to hold above the 150.00 resistance, triggering stop-loss orders and technical selling. The move reflects both dollar weakness amid Fed rate cut speculation and renewed yen strength as Bank of Japan officials hint at potential policy normalization. Technical analysis reveals the pair has breached its 50-day moving average at 149.20, opening the path toward the next major support at 147.80. RSI indicators have entered oversold territory at 28, suggesting a potential short-term bounce, though the overall trend remains bearish. Japanese economic data showing improving inflation at 2.3% YoY has bolstered expectations for BoJ action. Traders should watch for any verbal intervention from Japanese officials, as rapid yen appreciation could prompt concerns about export competitiveness.
USDJPY
Sentiment:
Very Negative
Source: Marketaux
EUR/USD has surged 0.7% (75 pips) to 1.0625, paradoxically strengthening despite growing concerns about Eurozone disinflation. November's preliminary CPI data showed inflation falling to 2.2% YoY from 2.4%, below the ECB's comfort zone and raising questions about the pace of future rate cuts. The euro's strength primarily reflects broad dollar weakness rather than inherent euro positivity. Markets are now pricing in a 40% chance of a 50-basis-point ECB cut in December, up from 25% last week. The technical picture shows EUR/USD breaking above the 1.0600 resistance, with momentum indicators suggesting further upside toward 1.0680. However, the disinflation narrative poses medium-term risks for the euro, as aggressive ECB easing could cap gains. Traders should monitor Thursday's ECB officials' speeches for clarity on the policy outlook, as any dovish signals could reverse current euro strength despite the favorable technical setup.
EURUSD
Sentiment:
Positive
Source: Marketaux
AUD/USD has achieved a bullish breakout above 0.6550 resistance, gaining 0.6% (40 pips) to 0.6575 amid improving risk sentiment and commodity price strength. The Australian dollar benefits from copper futures rising 2.1% and iron ore advancing 1.8%, reflecting optimism about Chinese demand. Technical indicators confirm the breakout, with the pair clearing its 100-day moving average and MACD turning positive. However, significant event risk looms with Tuesday's RBA rate decision and Wednesday's Chinese PMI data. Markets expect the RBA to hold rates at 4.35%, but any hawkish commentary could propel AUD/USD toward 0.6620 resistance. Conversely, disappointing Chinese economic data could quickly reverse gains, given Australia's export dependence. The Nasdaq 100's 0.5% gain supports risk-on positioning, favoring commodity currencies. Traders should consider the elevated volatility risk, with implied volatility rising to 8.2% ahead of key events.
AUDUSD
Sentiment:
Positive
Source: Marketaux
The AUD/USD price remains on the front foot, trading near the 0.6580 level as the AUD extends its 2-week rally against a weaker USD.
AUDUSD
Source: Marketaux
EUR/USD declined 0.15% to 1.0515 as Spain's Services PMI came in below expectations at 55.6 versus 56.1 forecast, down from 56.6 previously. The Composite PMI also disappointed at 55.1, missing the 56.0 prior reading. While Spain's services sector maintains expansion above the 50-threshold, the deceleration raises concerns about eurozone growth momentum heading into year-end. Despite continued domestic demand strength and stable employment conditions, the softer data weighs on euro sentiment amid broader European economic fragility. HCOB analysts maintain Spain will see robust Q4 GDP growth based on October-November PMI averages, but the downward trend warrants caution. Technical resistance for EUR/USD sits at 1.0550, with support emerging near 1.0480. Traders await Thursday's ECB policy decision and eurozone-wide PMI data for clearer directional cues on the single currency's trajectory.
EURUSD
Sentiment:
Neutral
Source: Finnhub
The US dollar has gained momentum across major pairs as markets price in potential policy shifts following reports of Kevin Hassett's possible appointment to a key economic advisory role. EUR/USD declined 0.2% to 1.0520, while USD/CNY advanced 0.3% to 7.2450 amid renewed trade policy concerns. The dollar index climbed to 106.80, reflecting broad-based USD strength. EUR/PLN retreated from recent highs to 4.2850 as the zloty found support from improving regional risk sentiment. USD/INR held steady near 84.50, with the Reserve Bank of India's intervention limiting rupee weakness. Technical indicators suggest EUR/USD faces immediate resistance at 1.0550, with support at 1.0500. The appointment speculation has reignited focus on US trade policies, particularly regarding China relations, potentially supporting further dollar gains if confirmed.
EURUSD
EURPLN
USDINR
USDCNY
Sentiment:
Positive
Source: Marketaux
Gold prices pulled back 0.8% to $2,640 per ounce during Tuesday's session, prompting traders to increase long positions on the dip. The precious metal's decline coincided with a stronger US dollar and rising Treasury yields, with the 10-year yield climbing to 4.25%. AUD/USD weakened 0.4% to 0.6480, pressured by both dollar strength and softer commodity prices. Technical analysis shows gold maintaining support above the $2,620 level, with the 50-day moving average providing a floor. Traders report accumulating positions during the pullback, viewing recent highs near $2,680 as achievable targets. Market positioning data indicates net long positions have increased by 15% over the past week, suggesting underlying bullish sentiment remains intact despite the correction. Near-term resistance stands at $2,660, with a break above potentially triggering momentum toward $2,700.
AUDUSD
XAUUSD
Sentiment:
Very Positive
Source: Marketaux
GBP/USD rallied 0.5% to 1.2730 during European trading, successfully breaking above the 1.2700 resistance level that had capped gains for the past week. The pound's strength was supported by better-than-expected UK Services PMI data, which rose to 53.7 from 52.5, indicating robust expansion in the services sector. Technical momentum has turned decidedly bullish, with the RSI climbing above 65 and the pair trading above all major moving averages. The breakthrough above 1.2700 has opened the path toward the next resistance at 1.2780, coinciding with November highs. Support has now formed at the former resistance of 1.2700, with additional backing at 1.2650. Trading volumes increased 20% during the breakout, confirming strong buying interest. The move positions GBP/USD for potential continuation toward the 1.2800 psychological level if momentum persists.
GBPUSD
Sentiment:
Very Positive
Source: Marketaux
AUD/USD declined 0.5% to 0.6420 following disappointing Australian Q3 GDP data showing only 0.4% q/q growth versus 0.7% expected, signaling economic slowdown. RBA Governor Bullock's comments acknowledging upside inflation surprises while maintaining anchored expectations suggest potential policy tightening ahead. Meanwhile, USD/INR surged to a record high above 90.00 as the Indian rupee weakened amid dollar strength and capital outflows. Asian services PMI data showed mixed results with China's Caixin PMI falling to 52.1 from 52.6, while Japan's final services PMI improved marginally to 53.2. Market uncertainty increased following reports of Trump's Fed chair candidate selection process and controversial statements about Biden pardons. The weak Australian growth data reinforces bearish pressure on AUD/USD with immediate support at 0.6400, while resistance sits at 0.6450.
AUDUSD
USDINR
USDJPY
USDCNY
Sentiment:
Negative
Source: Finnhub
The USD remains range-bound following the Tennessee House special election results, where Republican Van Epps secured victory but with a significantly reduced margin compared to previous wins exceeding 20 points. This political development adds to existing uncertainty around US fiscal policy direction, keeping major USD pairs in consolidation mode. EUR/USD trades near 1.0800, while USD/JPY hovers around 150.00 as traders await clearer policy signals from Washington. The narrowing political margins could complicate future fiscal legislation, potentially affecting dollar strength if gridlock concerns intensify. Market participants are monitoring whether this trend continues in upcoming elections, which could influence Fed policy expectations and Treasury yield dynamics. Near-term, the DXY index finds support at 104.50 with resistance at 105.20, suggesting continued sideways action until more decisive political or economic catalysts emerge.
EURUSD
USDJPY
Sentiment:
Negative
Source: Finnhub
