WTI Crude surged during trading on Wednesday with prices clipping fresh 2016 highs at $51.50 as expectations mounted over the possible drop in global supply. The World Banks gloomy global growth outlook for 2016 rekindled some jitters which have weighed heavily on sentiment. Brexit woes continue to persist while the fading hopes over another US rate hike in Q2 continue to punish the Dollar.
-The EURUSD is bullish and prices could break above 1.140 -The GBPUSD is bearish and breakdown below 1.450 could open a path towards 1.440 -Gold may trade towards $2170 if risk aversion persists
WTI Crude surged during trading on Wednesday with prices clipping fresh 2016 highs at $51.50 as expectations mounted over the possible drop in global supply. The World Banks gloomy global growth outlook for 2016 rekindled some jitters which have weighed heavily on sentiment. Brexit woes continue to persist while the fading hopes over another US rate hike in Q2 continue to punish the Dollar.
-The EURUSD is bullish and prices could break above 1.140
-The GBPUSD is bearish and breakdown below 1.450 could open a path towards 1.440
-Gold may trade towards $2170 if risk aversion persists
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