Oil

Oil prices rallied more than 10% off the December lows with WTI attempting to breakout of a six-month downtrend. A multi-timeframe view of the oil technical charts.

During the final part of Q4 2024, WTI has remained within the $70 per barrel zone, fiercely resisting movements below this critical support.

See a preview of our 2025 Crude Oil Outlook report!

U.S. stocks are heading to a higher open. US inflation data brought no surprises and bolstered expectations that the Fed would cut rates again next week. CPI rose 2.7% YoY, up from 2.6% in October, and core CPI rose 3.3%. The data cemented expectations that the Fed would cut rates in December, boosting stocks while the USD was unchanged.

USD/JPY looks to US CPI. Oil rises for a third day on China optimism & ahead of the OPEC report.

U.S. stocks are all set for a muted open after reaching record highs last week and as investors look ahead to inflation data later in the week. Stocks in the US have rallied across the past three weeks as the Trump trade continued to play out. US CPI is due on Wednesday and is expected to rise 2.7% YoY in November.

EUR/USD rises with ECB rate decision & US CPI data due this week. Oil rises on geopolitical developments and China’s policy move.

U.S. stocks are set for a stronger open after the US non-farm payroll report supported the case for a December rate cut while showing that the labour market remains resilient. 227K jobs were added, up from 36k last month. Meanwhile, unemployment rose to 4.2% from 4.1% and average wage growth was 0.4% stronger than the 0.3% forecast. The market still sees the Fed cutting rates in December by 25 bps.

U.S. stocks are mixed after stronger than forecast data and ahead of the key core PCE inflation report. US GDP was revised higher to 1.9% in Q3, up from 1.8%, boosted by solid consumer spending as inflation continued to cool. Meanwhile, jobless fell to 213k. The data points to the US economy being in a good place raising questions over the Fed's ability to cut rates. US core PCE is expected to rise to 2.8% YoY in October.

Oil prices reversed from yearly open resistance this week with the bears aiming back towards multi-month range lows. A multi-timeframe view of the oil technical charts.

U.S. stocks are heading higher, building on recent gains, as investors weigh up the implications of Trump's tariffs on its top trade partners. President-elect Trump said he would impose a 25% tariff on Canadian and Mexican imports and an additional 10% tariff on imports from China. Looking ahead, the minutes of the November Fed meeting will be released later and could provide more insight into the Fed's outlook for rates.

How could a potential Israel-Lebanon ceasefire impact oil prices and what are the key levels to watch?

U.S. stocks are pointing to a stronger open on Monday amid a sign of relief on Wall Street following President-elect Trump's nomination for Treasury Secretary - Scott Bessent, who favours less stringent trade tariffs.. The move higher comes after gains last week, which saw investors shift into cyclical stocks while rotating out of technology.

EUR/USD recovers from a 2-year low but gains could be limited, Oil steadies after 6% gains last week.

U.S. stocks are heading for a soft open, ending a broadly positive week on a more cautious tone ahead of the release of PMI data. The Dow Jones is on track to rise 1% this week, while the S&P 500 is set for 1.3% gains. The Nasdaq is up 1.6%. Attention is on US PMI data which is expected to show services and manufacturing PMIs rising in November.

U.S. stocks are set to open modestly higher after another record quarter for Nvidia as jobless claims fall and geopolitical tensions mount. Nvidia beat estimates for the top and bottom lines in another impressive showing. However, gains are limited owing to disappointment surrounding the revenue growth forecast, which is set to be the slowest in seven quarters. Meanwhile, jobless claims fell to 213k from 217k, and the Russian-Ukrainian conflict ramps up.

EUR/USD struggles below 1.0550 as headwinds mount. Oil rises amid escalating geopolitical tensions.