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Daily market news

commodities Commodities
13:00 - 16.07.2026
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Gold Price Forecast: XAU/USD stays below 20-day EMA, sees further downside below $3,940

Gold price (XAU/USD) is down 0.7% to near $4,030 during the European trading session on Thursday. The precious metal faces selling pressures as global inflation concerns remain intact amid elevated energy prices in the wake of widening military aggression between the United States (US) and Iran.

12:00 - 16.07.2026
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WTI remains broadly firm near $79 amid continued US-Iran aggression

West Texas Intermediate (WTI), futures on NYMEX, trade 0.9% lower to near $79.00 during the European trading session on Thursday, but is closer to its monthly high of $80.61 posted on Tuesday.

commodities Commodities
11:00 - 16.07.2026
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Silver Price Forecast: XAG/USD falls toward $56.50 after pulling back from nine-day EMA

XAG/USD extends its losses for the second consecutive day, trading around $56.80 per troy ounce during the European hours on Thursday.

forex Forex
10:00 - 16.07.2026
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EUR/USD Price Forecast: Testing range top at 1.1485 amid stronger momentum

The Euro (EUR) edges higher on Thursday, with the US Dollar (USD) on its back foot, as recent US inflation figures triggered a significant repricing of near-term rate hikes by the Federal Reserve (Fed).

forex Forex
09:00 - 16.07.2026
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USD/JPY Price Forecast: Dollar eases to 162.00, forming a triangle pattern

The US Dollar (USD) holds marginal losses against the Japanese Yen (JPY) at Thursday’s European session opening, and approaches the 162.00 area at the time of writing. Recent price action shows a sequence of lower highs and higher lows, forming a triangle pattern.

forex Forex
08:00 - 16.07.2026
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GBP/USD Price Forecast: Maintains constructive uptrend above 1.3500 despite mild losses

The GBP/USD pair trades with mild losses around 1.3535 during the early European trading hours on Thursday.

forex Forex
02:00 - 16.07.2026
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EUR/USD Price Forecast: Approaches 1.1600 as RSI shifts bullish

The EUR/USD advances some 0.41% on Wednesday, trading at 1.1466 after US inflation data was softer than expected, weighing on the Greenback, as market participants expect a less hawkish Federal Reserve. Towards the end of the year.

forex Forex
22:00 - 15.07.2026
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Forex Today: US Dollar extends decline as softer PPI lifts major currencies and Gold

The US Dollar Index (DXY) falls 0.5% toward 100.40 as softer-than-expected United States (US) wholesale inflation reinforces signs that price pressure is easing. The headline Produce Price Index (PPI) declined 0.3% MoM in June, while the annual rate slowed to 5.5%, below the 6.2% forecast.

forex Forex
14:00 - 15.07.2026
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NZD/USD Price Forecast: Holds onto Tuesday’s gains amid risk-on mood

The New Zealand Dollar (NZD) clings to Tuesday’s gains around 0.5820 during the European trading session on Wednesday. The Kiwi pair reflects strength in a risk-on market environment, driven by easing fears of Federal Reserve (Fed) interest rate hikes this year.

commodities Commodities
13:00 - 15.07.2026
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Gold Price Forecast: XAU/USD hovers above $4,000, weighed by risk-off markets

Gold (XAU/USD) edges lower on “inside trading” on Wednesday, with price action contained within Tuesday’s range, as the pair keeps looking for direction above the $4,000 level.

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commodities Commodities
12:28 - 30.11.2023
Commodities
12:28 - 30.11.2023

Oil soars as OPEC+ meeting faces impasse

- WTI Oil soars as the OPEC+ meeting started online around 10:30 GMT. 
- The US Dollar is roaring back after a few days of substantial weakness. 
- Oil to rally ahead of the official OPEC+ outcome as impasse remains. 

Oil prices are jumping higher for a second day in a row ahead of the OPEC+ meeting and outcome. With the OPEC+ meeting taking place at the time of writing, no official report has been issued and no consensus seems to be on the table when it comes down to distributing production cuts amongst all OPEC+ members. The African producing nations appear to be very reluctant to take any cuts, despite the recent downturn in Crude prices in global markets.

The US Dollar (USD) meanwhile is trying to set the record straight as markets might have devalued the Greenback a touch too much. While focussing on the end of the hiking cycle for the US Federal Reserve, markets got caught by surprise of a sudden substantial decline in the Eurozone in both its growth and inflation. At this pace, the Eurozone might even fall back into deflation by next year, which means quicker cuts, and thus again a widening rate differential which in its turn would favour a stronger US Dollar. 

Oil news and market movers: OPEC+ developing story
The OPEC+ meeting started around 10:30 GMT. . Both Nigeria and Angola approved a production cut in June, but are now backtracking on that promise. 
Recent numbers reveal that the opposing countries, Nigeria and Angola, are not meeting their maximum production quotas. 
All eyes of course will be on whether Saudi Arabia will succeed in passing on production cuts to all members, in order to create a substantial floor in Oil prices. 
Despite the surprise builds or less-than-expected draw downs from the US stockpile numbers measured by the American Petroleum Institute (API) and US Energy Information Administration (EIA), Oil prices keep soaring as the OPEC+ meeting is the leading story. 


Oil Technical Analysis: Volatile day ahead
Oil prices will have a very eventful day as headlines emerge throughout the day on either a deal or no-deal on production quotas for all OPEC+ members. Commodity Traders will have their work cut out. Although an outcome is hard to predict, some deal will certainly get done as the current lacklustre demand side is likely to be countered by some production cuts, borne by at least sum or most OPEC+ members in order to create price stability.

On the upside, $80.00 is the resistance to watch out for. Should crude be able to jump above that again, look for $84.00 (purple line) as the next level to see some selling pressure or profit taking. Should Oil prices be able to consolidate above there, the topside for this fall near $93.00 could come back into play.

On the downside, traders are seeing a soft floor forming near $74.00. This level is acting as the last line of defence before entering $70.00 and lower. Watch out for $67.00 with that triple bottom from June as the next support level to trade at. 

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