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Crude Oil Forecast: Week Ahead – June 10, 2024
The crude oil selling resumed on Friday after a two-day respite, although the losses were not as severe as those observed earlier in the week and far less forceful than the drop in metals. This is because a strong jobs report and services PMI data both helped to reduce fears over weakening demand in the US. Still, concerns over China remained and prices resumed lower, with crude oil investors also spooked by the sell-off in other commodities such as copper and silver. In the week ahead, US inflation data and the Fed’s rate decision are the key macro events on the economic data calendar on Wednesday. These have the ... (full story)
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- Posted: Jun 9, 2024 5:30pm
- Submitted by:Category: Technical AnalysisComments: 0 / Views: 281
