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As covered in an update here yesterday, March Brent did fall below $80 per barrel and just below $79.50. A second attempt to push deeper below that level failed and the price then rebounded back above $80 and towards $80.25. The NYMEX exchange was not open yesterday due to the MLK holiday in the US, but had it been so , it would have delivered a lower settlement price. Brent for March delivery last settled on that exchange at $80.79. The price action this morning has seen Brent earlier fall towards $79.50 again, following the comments from Trump, but so far that level has remained intact and earlier the price rebounded back towards $80.50. However, since then it has been tracking lower again. So, looking at the immediate chart, we have $79.50 to $80.50 kind of covering it, with a potential price extension either side of that range. Brent for March delivery has just lifted a moment ago and it is right now trading at $79.89
Well, you were alerted to something rather strange going on this afternoon in Gold and since then the metal has taken another lurch lower. This time...
The US stock markets have not long reopened for the final trading session of the week. It has been a very modestly higher opening across the board...
Given the reaction in the GBP/USD and the USD/JPY after the US sales data you might easily be forgiven for thinking the EUR/USD should be above 1.05...
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