Crude oil finally prints a positive breakout | MarketTalk: What’s up today? | Swissquote

Show notes

The euro traded south yesterday, as the European Central Bank (ECB) Chief Christine Lagarde reckoned that growth and inflation are slowing, while insisting that the rate cut decision will be data dependent.
Across the Atlantic, the US released its latest GDP update and the data was as good as it could possibly get. Yesterday’s US GDP data was the definition of goldilocks in numbers: good growth, slowing inflation. A dream comes true…?
Oil bulls finally got the positive breakout that they were looking for in oil prices.
The US dollar index ticked higher yesterday, as the euro fell across board during ECB Lagarde’s presser. But any further weakness in today’s PCE numbers could limit the upside move in the dollar index and throw a floor under the EURUSD’s weakness around the 200-DMA.
In equities, the good data gave a positive spin to the S&P500 and Nasdaq 100, but Tesla’s 10% slump limited gains. Intel tumbled 10% in the afterhours trading following a disappointing forecast as it has hard time fighting back the all-strong Nvidia and AMD which are catapulted to the moon on the AI craze. The good news is, Nvidia and AMD lovers will barely react to Intel news.
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