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CFDs come with a high risk of losing money rapidly due to leverage. 71% of accounts lose money when trading CFDs with this provider. You should understand how CFDs work and consider if you can take the risk of losing your money.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

71% of retail investor accounts lose money when trading CFDs with this provider.

Market Insights

Trading Insights: It's a bull market!

Copy of Blog Images - Skilling - 2023-06-28T101715.581

Commentary & insights

Strong data lifts global stock markets

Yesterday’s data reported that US Durable goods orders beat the -1% expectations jumping to +1.7% month-on-month. Durable goods orders increased from 1.2% to 1.7% triggering speculation that the US economy is in good shape.

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Gold price outlook remains bearish.

Strong US economic outlook adding to the downside pressure for Gold price.

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Current gold price $1,910 with eyes on the lower supports at $1,903 - $1,866. Upside risk seen above the $1,989 resistance.

Weaker Australian inflation triggers AUD/USD to drop 0.7%

AUD FX is under downside pressure on the back of the overnight latest AUD consumer price index data (inflation).

AUD/USD pierces below the 0.6630 key support, strengthening the case for a further bearish extension lower.

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Current AUD/USD price 0.6641 with eyes on the key support at 0.6630, and if support fails, the prospects open up for a move toward the 0.6560s in extension. Upside risk seen above the $1,989 resistance.


Today’s economic calendar

WTI Crude Oil in focus in front of the weekly US crude oil inventories report

  • WTI current price $67.75 down nearly 7% during the last 5 days, today's inventories are expected to show a drawdown of 1.757 million barrels week on week.

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Source: TradingView / J. Knobel June 28 2023 5:49 UTC

WTI Crude Oil price outlook looks bearish with eyes on the $67.20 support level

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  • WTI Crude oil trading near the $67.20 support. A price break below the $67.20 level could expose $62.4 on the downside. Upside risk seen above the $75.70 resistance (see chart).

Not investment advice. Past performance does not guarantee or predict future performance.