Tight supply of Crude Oil boosted the oil price

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In order to support crude oil price, Kuwait implemented an agreement between oil exporting countries to cut production on Monday. As another major producer of crude oil, Russia also indicated the willingness to fulfil the agreement with OPEC+ to reduce oil output to defend the oil market. WTI Crude oil price continued to rise since 8th of August and closed at $ 54.71 on Monday.

Due to the unstable market movement and geopolitical tensions, US indices dropped on Monday, investor concerned about the global economy continued to grow. Dow 30 and S&P 500 fall 1.5% and 1.36% respectively.

The upcoming big events are: British Average Earning Index, Australian quarterly Wage Price Index, the US monthly CPI and British yearly CPI.

Daily movement

Asset

Open

Close

High

Low

change%

USDX

97.3100

97.2000

97.5400

97.1100

-0.11%

EURUSD

1.1199

1.1214

1.1231

1.1162

0.13%

GBPUSD

1.2047

1.2074

1.2106

1.2015

0.22%

USDJPY

105.5610

105.2950

105.6890

105.0460

-0.25%

AUDUSD

0.6782

0.6749

0.6795

0.6745

-0.48%

USDCAD

1.3201

1.3241

1.3250

1.3200

0.30%

NZDUSD

0.6465

0.6443

0.6474

0.6439

-0.34%

USDCNH

7.0970

7.1017

7.1121

7.0878

0.07%

GOLD

1497.7900

1510.8400

1519.7500

1487.1900

0.87%

WTI

54.2400

54.7100

55.1200

53.5000

0.87%

BRENT

58.2900

58.5000

58.9100

57.9200

0.36%

DOW 30

26286.3900

25890.8900

26372.3800

25820.4500

-1.50%

S&P 500

2920.8300

2881.0800

2930.8800

2872.4200

-1.36%

 

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