Poland’s Strong Consumption and Investment Point to Robust Growth with Mild Inflation Outlook
Ukraine Peace Deal Hopes Weigh on EUR Inflation Swaps as Real Rates Hit New Highs
Germany’s Economy: Three Years of Stagnation With Only Limited Signs of Recovery
Commodities Move on Geopolitics and Weather as Oil Rises, Gas Falls, and Nickel Faces Supply Risks
USD Overvaluation Persists as Geopolitics Dominate and JPY Faces Intervention Risks
Open interest in crude oil futures markets increased by around 2.1K contracts on Tuesday, extending at the same time the erratic performance according to preliminary readings from CME Group. In the same line, volume maintained the choppiness well in place and rose by nearly 260K contracts, offsetting the previous daily drop.
Prices of the barrel of the WTI dropped markedly on Tuesday amidst increasing open interest and volume, suggesting that extra decline appears on the cards in the very near term. That said, a probable retracement to the area of 2023 lows near $72.00 remains on the table for the time being.
