Daily market news

commodities Commodities
17:00 - 28.07.2026
Author:

Gold Price Forecast: XAU/USD sits out the panic it was built for

Gold trades near $4,020 in the New York morning, down roughly 1.4% on a session that started near $4,075 and never built a bid.

forex Forex
15:00 - 28.07.2026
Author:

New Zealand Dollar struggles as firm US Dollar keeps NZD/USD pinned

NZD/USD trades around 0.5770 on Tuesday at the time of writing, slightly lower on the day. The New Zealand Dollar (NZD) remains pressured by the firm US Dollar (USD), which continues to benefit from safe-haven demand amid persistent geopolitical tensions.

forex Forex
14:00 - 28.07.2026
Author:

EUR/USD Price Forecast: Under pressure with YTD lows at 1.1324 coming closer

The Euro (EUR) is failing to draw any significant support from the truce in the Middle East and the lower Oil prices and keeps heading south against the US Dollar (USD) on Tuesday. EUR/USD bears are testing fresh one-month lows below 1.1360, drawing near the year-to-date low of 1.1324.

forex Forex
12:00 - 28.07.2026
Author:

USD/CAD Price Forecast: Lower oil prices ensure further weakness for Canadian Dollar

The USD/CAD pair trades marginally lower to near 1.4113 during the European trading session on Tuesday. The Loonie pair edges down as the Canadian Dollar (CAD) outperforms its major currency peers.

10:00 - 28.07.2026
Author:

WTI Oil flirts with the $80 level amid speculation about US-Iran peace talks

Oil prices remain depressed on Tuesday, as hopes of a new round of peace talks between the US and Iran boosted hopes of a de-escalation of the Middle East conflict.

forex Forex
09:00 - 28.07.2026
Author:

GBP/USD Price Forecast: Trades vulnerably near 1.3300 ahead of Fed-BoE policy

The British Pound (GBP) trades with caution at around 1.3300 against the US Dollar (USD) during the European trading session on Tuesday.

forex Forex
08:00 - 28.07.2026
Author:

AUD/USD Price Forecast: Slides to 0.6970 after failing to clear 38.2% Fibo. hurdle

The AUD/USD pair attracts some follow-through selling following the previous day's failure to find acceptance above the 0.7000 psychological mark and weakens to the 0.6970 area during the Asian session on Tuesday.

commodities Commodities
06:00 - 28.07.2026
Author:

Silver Price Forecast: XAG/USD falls to near $57.50 despite easing Fed hike bets

Silver price (XAG/USD) declines after registering nearly 0.5% gains in the previous day, trading around $57.50 per troy ounce during the Asian hours on Tuesday.

04:00 - 28.07.2026
Author:

WTI consolidates near one-week low, around $81.00 as traders eye US–Iran talks

West Texas Intermediate (WTI) – the benchmark US Crude Oil price – is seen consolidating the previous day's heavy losses and trading around the $81.00 mark, just above a one-week high set during the Asian session on Tuesday.

forex Forex
22:00 - 27.07.2026
Author:

Forex Today: US Dollar softens as Oil plunges on Middle East pause

The US Dollar (USD) traded mostly unchanged on Monday as a temporary pause in hostilities between the United States and Iran reduces demand for safe-haven assets. The US Dollar Index (DXY) traded lower earlier in the session but moved closed to breakeven by the late American afternoon.

OANDA's pick for the day

22:04 - 27.05.2026
Traders are desperate for more news, but the status quo is positive
22:16 - 25.05.2026
The Memorial Day session brought with it some great news
22:39 - 07.05.2026
Is the party over already? – North American Session Market Wrap for May 7
22:29 - 06.05.2026
The Peace rally can't be stopped – North American Session Market Wrap for May 6
news_feed_oil_1
commodities Commodities
13:58 - 13.10.2023
Commodities
13:58 - 13.10.2023

Oil whipsaws in search for direction as demand drops and US slaps sanctions on Russian crude

Oil prices are trying to still eke out gains for this week, despite registering  a sell-off on the back of nearly no spillover from the Israel-Gaza conflict so far. Adding to that, the rise of  US oil production together with a massive surprise buildup of Crude stockpile signalled increased supply, putting further pressure to Oil prices. Risks of a mild first few weeks of fall season, with global stagflation fears where demand for Oil would drop even further, are not painting a rosy picture for Crude in the coming weeks.

On Thursday, the US imposed sanctions on owners of tankers carrying Oil from Russia, in a sign that the country is enforcing the sanctions plan approved against Russia after it invaded Ukraine, Reuters reports. Increased scrutiny over Russian Oil could hurt supply as the country is the world’s second-largest Oil producer. This also means the stakes are becoming high for the upcoming visit of Russian President Vladimir Putin to China. Putin is expected to meet Chinese President Xi Jinping on the sidelines of the Belt and Road Forum, which will be held in Beijing on October 17 and 18. In the context of increased US sanctions, Putin will likely push to secure a deal for Gas and Oil deliveries to the Asian bloc.

Meanwhile, the US Dollar (USD) showcased its resilience on Thursday after one component of the monthly headline inflation gauge ticked up against all odds. Inflation fears got reignited again, triggering a bond sell-off. US yields soared, fueling the Greenback rally against most major peers. It looks like this week’s weakness for the US Dollar was just a small decoupling, and more strength is to be factored in.

Crude Oil (WTI) trades at $85.23 per barrel, and Brent Oil trades at $88.60 per barrel at the time of writing. 

Oil news and market movers

  • China Crude imports are slowing down. In September, nearly 45.74 million tons were shipped, which is about 11.18 million barrels per day and 10% lower than August’s numbers.
  • Crude prices for November for Asian clients have dropped by about $2 per barrel from their 2023 peak in September.  The price drop came after Saudi Arabia confirmed its support to keep prices stable, which traders saw as a reassurance output would be boosted again when needed.
  • The total US oil production has set a new 5-year high record, making the country less dependent on foreign inflow.
  • The Energy Information Administration (EIA) printed the latest Crude stockpile numbers, with a big beat on expectations: Crude stocks increased by  10.176 million barrels, way above the  0.492 million rise expected.
  • Near 17:00 GMT, the weekly Baker Hughes Rig Count will be published. Previous number was at 497, no forecast penciled in. 

Oil Technical Analysis: having a go a that weekly close

Oil prices are sinking lowersince prices peaked near $94. With Oil trading near $83.50, it nearly looks likely for it to head below $80. Fundamentals for Oil look weak taking into account slowing demand from Asia, US Oil production at a multi-year high and risks of global stagflation. Either OPEC+ will need to add more supply cuts or a pickup in activity across the globe is needed to warrant steady oil prices near $85.

On the upside, the support level near $88 is the first level in the bulls’ radar. From there, the next level will be this year’s high at $94. Should a substantial squeeze unfold with higher prices, look for $97.11, the high of August 2022.

On the downside, traders are bracing for the entry of that region near $78. The area should see ample support for buying. Any further drops below this level might see a firm nosedive move, which would cause Oil prices to sink below $70.

Scroll to top