Gold (XAU)
Key news events today
FOMC Member Waller Speaks (3:00 pm GMT)
What can we expect from Gold today?
Federal Reserve Governor Christopher Waller will be delivering a speech titled “Using Economic Data to Understand the Economy” at the Federal Reserve Bank of St. Louis Conference where audience questions are expected. His statements and remarks will be closely watched as they could provide further insights into the outlook for monetary policy following last week’s FOMC meeting. Any further neutral remarks are likely to function as a bearish catalyst for the greenback and thus potentially provide a lift to gold prices.
Next 24 Hours Bias
Medium Bearish
Oil
Key news events today
API Weekly Crude Oil Stock (9:30 pm GMT)
What can we expect from Oil today?
API stockpiles have declined in the last two out of three weeks which usually signals relatively stronger demand for crude oil in the US. A larger-than-expected drawdown could provide a much-need boost to prices in the near-term.
Meanwhile, crude prices dropped overnight with WTI oil hitting a high of $82.20 before trading around $81.47 per barrel by the end of the US session.
Next 24 Hours Bias
Medium Bearish