Fighting continues at Israel’s northern border as the threat of a wider conflict remains a major risk. Oil markets brace for higher prices, upside risks to inflation
We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 86.60%, while traders in USD/JPY are...IG client sentiment hints at continued bullish momentum as traders pile into shortsRecent visits from US President Joe Biden and UK Prime Minister Rishi Sunak have yielded mixed results.
While today’s price action has been calm in relation to one week ago, prices are still edging higher as tensions remain worrisome. Oil now approaches the September swing high around $95.90, with the psychological level of $100 not out of the question further down the line. The effect of the geopolitical conflict more than compensates for the effect rising US yields and a strong dollar typically have on global commodity markets. Support appears around the prior swing lows near $89.00.
The number of traders net-long is 14.65% lower than yesterday and 24.76% lower from last week, while the number of traders net-short is 13.46% higher than yesterday and 57.02% higher from last week. Yet traders are less net-long than yesterday and compared with last week. Recent changes in sentiment warn that the currentLeveraged trading in foreign currency or off-exchange products on margin carries significant risk and may not be suitable for all investors. We advise you to carefully consider whether trading is appropriate for you based on your personal circumstances. Forex trading involves risk. Losses can exceed deposits.
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