Oil Rally Stalls As Demand Softens, Gold Rises Post Fed

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EIA Report: stockpiles dropped 600K vs -2.12M eyed
Crude production falls to 12.2 million bpd (lower boundaries of this year’s range)
Gold struggles as Fed leaves door open for more hikes

Olje

Crude prices softened after the EIA crude oil inventory report stockpiles fell less-than-expected as surging gasoline prices weighed on demand. Gas is almost over 10 cents a gallon according to AAA and that rising trend might continue going to the end of summer. Crude exports also rose above the 4 million barrel a day threshold, which shows overseas demand is growing as OPEC+ tightens the oil market.

Gold

Gold prices remained heavy after the FOMC statement as Fed swaps continue to price in small chances of an additional rate hike. The Fed will probably see no change with rates in September and when the market is confident that November will be a pause, then gold might break out higher. Gold is now in wait-and-see mode for the rest of the big earnings releases and if the ECB and BOJ can surprise markets.

Bitcoin

Bitcoin caught a modest bid after the Fed decision triggered a modest risk-on rally. The Fed is most likely done raising rates and that should provide some relief to the interest rate sensitive sectors in the cryptoverse.

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Ed Moya

Višji tržni analitik, Amerika at OANDA

Ed Moya je z več kot 20-letnimi izkušnjami na področju trgovanja višji tržni analitik pri OANDA, ki izdeluje najnovejšo analizo med trgi, pokriva geopolitične dogodke, politike centralne banke in se odziva trga na novice podjetij. Njegovo posebno znanje se nanaša na široko paleto razredov premoženja, vključno z deviznimi sredstvi, blagom, fiksnim dohodkom, delnicami in kriptovalutami. Ed je v svoji karieri sodeloval z nekaterimi vodilnimi posredniki na forexu, raziskovalnimi skupinami in oddelki za novice na Wall Streetu, vključno z Global Forex Trading, FX Solutions in Trading Advantage. Nazadnje je sodeloval s trgovino TradeTheNews.com, kjer je zagotovil tržno analizo ekonomskih podatkov in poslovnih novic. Ed s sedežem v New Yorku je redni gost več večjih finančnih televizijskih omrežij, vključno s CNBC, Bloomberg TV, Yahoo! Finance Live, Fox Business in Sky TV. Njegovim stališčem zaupajo najbolj znane svetovne medijske hiše, med njimi Reuters, Bloomberg in Associated Press, redno pa ga citirajo v vodilnih publikacijah, kot so MSN, MarketWatch, Forbes, Breitbart, The New York Times in The Wall Street Journal. Ed je diplomiral iz ekonomije na univerzi Rutgers.