{"id":24534,"date":"2022-03-28T14:04:00","date_gmt":"2022-03-28T13:04:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=24534"},"modified":"2022-03-28T16:42:06","modified_gmt":"2022-03-28T15:42:06","slug":"shanghais-11-day-lockdown-weighs-down-rising-oil-prices","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/shanghais-11-day-lockdown-weighs-down-rising-oil-prices\/","title":{"rendered":"Shanghai\u2019s 11-day lockdown weighs down rising oil prices"},"content":{"rendered":"\t\t
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Midday Update<\/strong><\/p>

European allies are concerned with President Biden\u2019s comments on Russian President Vladimir Putin indicating they inflame Russian tension amid diplomatic negotiations. The Yen continued to tumble to a seven-year low as BoJ divergence with Fed widens as markets eye BoJ deputy governor Amamiya\u2019s speech on Tuesday. Investors focus on critical US job data due for release later in the week.<\/p>

The USD index<\/a> extended gains early Monday morning soaring +0.40% higher ahead of critical US employment data. The index broke above immediate resistance at 99.00 and bulls target 100.00 near-term resistance. The Fed has tweaked investors\u2019 mood toward a more aggressive policy tightening in the near term.<\/p>

However, bulls need to break above the 99.40 monthly high to expand further upside in the near term. Goods trade and Retail inventories(ex-auto) will be released later in the New York session.<\/p>

EURJPY<\/a> traded lower trimming some of its Monday gains as bulls lose steam around 137.500 near-term resistance. The pair currently holds +1.57% after closing above 134.00 near-term resistance on Friday.<\/p>

The EUR strengthened against the weaker yen, however a failure to break above the 137.500 high may see the EUR retreating from the 4-year high in the near term. Investors will be focusing on ECB member Enria\u2019s speech later in the New York session for any policy clues.<\/p>

AUDJPY<\/a> rose +1.81% during early Monday trading as investors enjoy the carry trade for the 9th week in a roll. The pair hit 94.31 which coincides with a 7-year high and a break above that resistance may renew bullish interest towards 97.75, January 2015 high. A failure to break that area may see a price correction towards 92.00 resistance turned support, which coincides with a 50-day moving average on H1.<\/p>

European equities markets opened higher on Monday with Dax<\/a> as the leading index up +1.91%. The Index traded above an 8-day resistance making a fresh high at 14627.58, a few points above the 25 February 2022 high at 14570.00.<\/p>

\u00a0The CAC40<\/a> rose +0.81% as bulls attempt to reclaim 6700.00. The index has been rangebound for 8 days between 6500 support and 6700 resistance and a break above that resistance may give for further upside towards the 6800 near-term barrier.<\/p>

The FTSE<\/a> gained +0.28% as the index makes a fresh March high at7538.00 and a possibility to push further upside towards 7665.00, early resistance. The index turns bullish in the near term as downside movement bounces off an H1 chart 50-day moving average.<\/p>

US equities closed higher on Friday reaching a 2-week of gains defying Rate hike sentiments in the near term. The S&P500<\/a> closed 0.51% at4543.05 while the Dow Jones<\/a> rose +0.44% higher at the closing bell. The Nasdaq<\/a> was a little unchanged at 0.08% after recovering earlier losses closing at 14754.0, although upside movement remains capped by 15000.00 near-term psychological barrier.<\/p>

Oil tanked on Monday morning as the Chinese lockdown weighs down on oil demand in the near term. USWTI crude oil futures<\/a> were down -4%, trading slightly below a 5-day low at 107.22. The black liquid may trade lower towards 104.20 near-term support if bears manage to break below 107.22 support. Investors focus on OPEC+ meetings on Thursday.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

Midday Update European allies are concerned with President Biden\u2019s comments on Russian President Vladimir Putin indicating they inflame Russian tension amid diplomatic negotiations. The Yen continued to tumble to a seven-year low as BoJ divergence with Fed widens as markets eye BoJ deputy governor Amamiya\u2019s speech on Tuesday. Investors focus on critical US job data […]<\/p>\n","protected":false},"author":4,"featured_media":24536,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[80,64,57,28,107,394,601,307],"yoast_head":"\nShanghai\u2019s 11-day lockdown weighs down rising oil prices - Youtrading UK<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/youtrading.com\/en\/shanghais-11-day-lockdown-weighs-down-rising-oil-prices\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Shanghai\u2019s 11-day lockdown weighs down rising oil prices Shanghai\u2019s 11-day lockdown weighs down rising oil prices\" \/>\n<meta property=\"og:description\" content=\"European allies are concerned with President Biden\u2019s comments on Russian President Vladimir Putin indicating they inflame Russian tension amid diplomatic negotiations.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/youtrading.com\/en\/shanghais-11-day-lockdown-weighs-down-rising-oil-prices\/\" \/>\n<meta property=\"og:site_name\" content=\"Youtrading UK\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/YouTradingEnglish\/\" \/>\n<meta property=\"article:published_time\" content=\"2022-03-28T13:04:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-03-28T15:42:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2022\/03\/GettyImages-1224630634.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"559\" \/>\n\t<meta property=\"og:image:height\" content=\"294\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Nathan Batchelor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Shanghai\u2019s 11-day lockdown weighs down rising oil prices Shanghai\u2019s 11-day lockdown weighs down rising oil prices\" \/>\n<meta name=\"twitter:description\" content=\"European allies are concerned with President Biden\u2019s comments on Russian President Vladimir Putin indicating they inflame Russian tension amid diplomatic negotiations.\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Nathan Batchelor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/youtrading.com\/en\/shanghais-11-day-lockdown-weighs-down-rising-oil-prices\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/youtrading.com\/en\/shanghais-11-day-lockdown-weighs-down-rising-oil-prices\/\"},\"author\":{\"name\":\"Nathan Batchelor\",\"@id\":\"https:\/\/youtrading.com\/en\/#\/schema\/person\/88ce8e6688d6c690a83e6cbeee2eccab\"},\"headline\":\"Shanghai\u2019s 11-day lockdown weighs down rising oil prices\",\"datePublished\":\"2022-03-28T13:04:00+00:00\",\"dateModified\":\"2022-03-28T15:42:06+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/youtrading.com\/en\/shanghais-11-day-lockdown-weighs-down-rising-oil-prices\/\"},\"wordCount\":511,\"publisher\":{\"@id\":\"https:\/\/youtrading.com\/en\/#organization\"},\"keywords\":[\"BOJ\",\"Crude oil\",\"FTSE100\",\"GOLD\",\"Joe Biden\",\"JPY\",\"Stocks\",\"USD\"],\"articleSection\":[\"Markets\"],\"inLanguage\":\"en-GB\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/youtrading.com\/en\/shanghais-11-day-lockdown-weighs-down-rising-oil-prices\/\",\"url\":\"https:\/\/youtrading.com\/en\/shanghais-11-day-lockdown-weighs-down-rising-oil-prices\/\",\"name\":\"Shanghai\u2019s 11-day lockdown weighs down rising oil prices - 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