Max_Initio

Max_Initio Updated 

Wheat price (ZW features) jumped as result of RU breaking deal with UKR. Additionally RU attacked grain terminal in Odessa with rockets. Price raised to 750 and then strongly corrected to below 700. This correction might be due to hopes that grain deal will be restored. Unfortunately, now this looks less likely. Both RU and UKR threaten ships on black see - that...

Max_Initio Updated 

Bullish fundamentals for oil (OPEC+ cuts + Arabs additional cuts + RU start cutting in reality). Additional SPR of US is the lowest level for years. On the demand side weaker China data but China still buy the oil, summer demand, US economy in better than expected shape. Now earning season that will re-affirm that US is still strong. Day time frame is bullish...

Max_Initio Updated 

Reduced US oil inventory and OPEC+ cuts will bite + summer demand. Oil left consolidation range. The price after retracement before weekend should go up. On the down side worst than stated Chinese data are expected to print at the beginning of the next week. This was most likely the reason of the correction before weekend.

Max_Initio

Flag?/Sentiment change (CH-US + G7)

Max_Initio

Silver price jump - FOMC (announcing possibility of rate reduction? - wait for FOMC today/decision point)