What makes up the price of a litre of petrol?

The cost of filling the average car with fuel is falling. Here’s what makes up the price of a litre of petrol.

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Market Spotlight: IAG Pause Offers Opportunities

IAG Up on The YearShares in British Airways parent company International Consolidated Airlines Group are seeing a mild pullback on Tuesday. IAG stock has been one of the best performers so far in 2023, rising over 11% from the January open. With shares now sitting just off yesterday’s highs, the current price might be a good opportunity for bulls to get in ahead of a fresh leg higher in coming sessions.IAG shares have been on a recovery rally since the October 2022 lows and despite the pullback from the November highs, the stock looks to be turning higher again now. The post-pandemic recovery is still ongoing in the aviation sector and with China now reopening its borders for the first time since the pandemic began, travel projections for the year ahead are lifting. While the cost of living crisis is creating some headwinds to customer demand, the outlook for travel in 2023 broadly is positive with IAG forecasting customer number to return to 95% of pre-pandemic levels over Q1.Investment Banks Turned BullishGoldman Sachs appear to buy into this view with the US bank issuing a fresh upside target this week of 150 on the company’s stock. This comes on the back of UBS issuing a higher target of 165 and Deutsche Bank hitting the mid-point around 155. The prevailing view seems to be that cheaper fuel prices, a weaker US Dollar and an uptick in global travel linked to China reopening will help drive the stock higher from here.  Technical ViewsIAGThe correction lower from the 156.30 level found firm support into the 124.24 level with price now moving back above the bearish trend line and above the 141.24 level. With momentum studies turned bullish here, the focus is on a continuation higher. With that in mind, 156.30 is the key level for bulls to break, opening the way for a 177.82 move thereafter.

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/market-spotlight-iag-pause-offers-opportunities"
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Fuel prices dip, but prices are still remain high

Fuel prices have dipped, but how much will you pay now and how can you save on the costs of driving?

from Moneyweek RSS Feed https://moneyweek.com/personal-finance/605068/how-to-cut-your-cars-fuel-bill-as-the-price-of-petrol-hits-a-record-high
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Market Spotlight: Harbour Energy Reversing QuicklyHigher

HBR Rising Shares in FTSE 250 listed Harbour Energy PLC are among the biggest gainers on the index today. HBR shares are up nearly 3% from the European open with the stock boosted by the general uptick in risk appetite we’re seeing so far this year. The company which is the largest UK-listed independent oil and gas company has seen its shares rallying around 14% off the initial lows printed last week with price now close to testing the December 2021 highs.Notably, the move comes despite weaker energy prices over the same period. Harbour recently reviewed its capital allocation in the midst of the windfall energy taxes applied by the Sunak government at the November budget.  Harbour refrained from bidding on new projects in the North Sea in light of these taxes, a move which shareholders appear to have backed given the recovery we’re seeing in the company’s stock price early in 2023.Technical ViewsHarbour EnergyThe reversal back above the 299 level is an important technical development for the stock, holding the potential to mark a large double-bottom pattern against the July 2022 lows. With momentum studies bullish, the focus is on a further push higher while price holds above this level. The stock is now testing the bearish trend line from 2022 highs with the 322.7 December 2022 highs acting as resistance also. If bulls can break this zone, there is room for a much higher push towards 365.6 next.

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/market-spotlight-harbour-energy-reversing-quicklyhigher"
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BTC1! Futures ( BTC1! ), H4 Potential for Bullish rise

Type: Bullish RiseKey Levels:Resistance:17595Pivot:16710Support:16090Preferred Case:Looking at the H4 chart, my overall bias for BTC1! is bullish due to the current price being above the Ichimoku cloud , indicating a bullish market. If this bullish momentum continues, expect price to continue heading towards the resistance at 17595, where the 61.8% Fibonacci line is.Alternative Scenario:Price could head back down to retest the pivot at 16710, where the 50% Fibonacci line is.Fundamentals:There are no major news.

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/btc1-futures-btc1-h4-potential-for-bullish-rise"
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The IndeX Files 10-01-2023

Choppy Start to 2023 For MarketsIt’s been a muddy start to the year for equities markets with choppy actions seen across the globe. Early in January we’re seeing some clear divergence between different regions with European stocks currently noting the best performance while US stocks have been wrangled back from initial highs.Looking at the broader backdrop, one key theme underpinning stocks here is that of ‘peak-inflation’, the idea that the CPI spiral we saw across last year is fading away now. With both the eurozone and the US recording two consecutive monthly declines in inflation, traders have begun anticipating that central banks might pull away from their tightening schedules quicker than expected. In the US, however, this idea was diluted yesterday by comments from Fed’s Bostic and Daly who both called on the need to push ahead with rates, saying that the Fed would likely hike rates above 5%, where they would stay for some time.In Europe, however, better eurozone data recently, cooling inflation and lower energy prices are contributing to a more encouraging backdrop for investors. The Dax has seen heavy gains this week, rallying more than 6% on the year so far. UK stocks have been a little more mixed while Asian stocks have been boosted by the China reopening story. China relaxed border controls for the first time in 3 years over the weekend. While there are still concerns around soaring covid levels, the longer run view is a return to higher demand and activity which is helping lift stocks currently.Technical ViewsDAXThe rally in the DAX this year has seen the index breaking above the 14703.98 level and the 2022 highs, supported by the bullish trend line off 2022 lows. With momentum studies bullish, the focus is on a continued push higher here with 15076.81 the next big level to note for bulls.S&P 500The index remains underpinned by the 3814 level for now. Price recently popped above 39210 but has stalled into a test of the bearish channel top. While below here, there is a risk of a further break lower. Any move below the 3814 will open the way for a test of the 3647 level next.FTSEThe rally in the FTSE this year has seen price breaking out above the bear channel top while blowing through several key resistance levels. For now, price is stalled around the 7678.8 level and with momentum studies firmly bullish, the focus is on a continuation higher towards 7904.7 while 7575.8 holds as support.NIKKEIThe sell off in the Nikkei has stalled for now into a test of the 25500.5 lows. The subsequent rebound has made it as far as 26246 currently, with these levels marking the bull/bear lines for the current phase of price action. Momentum studies are turning higher here suggesting that might be some room for a further recovery.

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/the-index-files-10-01-2023"
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Market Spotlight: Nat Gas Volatility At Lows

Natural Gas Breaks LowsThe sell off in natural gas prices from the highs seen early last year has seen the market collapsing by almost 70%. Natural gas futures recently hit their lowest levels since late 2021 as a milder winter in Europe has allowed for far less demand than typically seen over this period. Given the record build up in European stockpiles ahead of recent months, the subsequent drop in buying has fuelled a rapid repricing in gas markets.Europe LNG Imports in FocusMost recently, however, we’re seeing some volatility around the lows as traders seek to reconcile lower prices with a need to maintain LNG imports. The drop in prices in Europe means that US producers are seeing better gains elsewhere, namely Asia. While stockpiles remain elevated this is sustainable. However, should the weather turn in Europe in coming months, any drop in LNG imports might well see a sudden rush of panic buying sending prices soaring again.Maintaining LNG imports from the US is a key part of Europe’s strategic mission to replace lost Russian energy supply and as such there is a case for anticipating a floor in gas prices around current or slightly lower levels. One caveat to this is that the market still remains well supplied currently and, given expectations of a deeper downturn this year, the demand outlook remains muted for now.US Dollar Impact Another key factor to monitor here is the shift lower in USD. If this week’s US inflation data confirms the further anticipated cooling of inflation, this should see USD heading deeper, allowing for commodities prices to gain higher ground. As such, near-term prospects for natural gas look to be skewed to the upside unless we see an unexpected upside print in Thursday’s US CPI.Technical ViewsNG (Natural Gas Futures)The key level for the market is the 3.960 in the near-term. Back above here, NG should find decent demand to carve out a base allowing for a retest of the broken bull trend line and the 5.381 level above. However, should price hold beneath 3.960, the focus remains on a further downward push towards the 3.305 level next.

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/market-spotlight-nat-gas-volatility-at-lows"
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How to pick an investment platform

Investment platforms, commonly known as fund supermarkets, allow you to buy, sell and hold funds, stocks and trusts. But how do you pick the right one and what should you look out for?

from Moneyweek RSS Feed https://moneyweek.com/investments/605635/choosing-investment-platforms
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Market Spotlight: China Reopening Drives Copper Rally

Copper Breaks Highs With (Dr) Copper often seen as a barometer for global economic health (or at least projected global economic health), the rally in copper futures is certainly an encouraging start to the New Year. A combination of a weaker US Dollar and budding optimism around China reopening its borders is helping lift sentiment this week. Weaker-than-forecast wages growth in the US last month has reinforced the outlook that inflation is likely to have cooled further last month, to be shown in Thursday’s US CPI reading.  If seen, USD is likely to continue lower helping lift risk sentiment further, boosting copper prices near-term.The China story is an interesting one with traders now essentially caught between fears around surging infection and death toll numbers and optimism around border controls being relaxed for the first time since the pandemic began. While restrictions remain relaxed, however, focus is likely to stay on the positive side with copper demand forecast to increase as trade picks up. However, should the covid story deteriorate (particularly with any reversal in the easing of restrictions), this would be bad news for copper prices.Technical ViewsHG (Copper futures)Copper prices have reversed sharply off the 3.7300 lows and are now trading back above the 3.9410 level. While above here, the focus is on a break of the 4.1185 level, opening the way for a fuller move up towards 4.4830 longer term. However, worth noting we are seeing strong bearish divergence on momentum studies so bulls should be wary on any move back below the 3.9410 level.

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/market-spotlight-china-reopening-drives-copper-rally"
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Coffee Futures ( KC1! ), H4 Potential for Bearish Drop

Type: Bearish DropKey Levels:Resistance: 174.35Pivot: 163.80Support: 154.30Preferred Case:Looking at the H4 chart, my overall bias for KC1! is bearish due to the current price being below the Ichimoku cloud, indicating a bearish market. If this bearish momentum continues, expect price to possibly continue heading towards the support at 154.30, where the previous swing low is.Alternative Scenario:Price may head back up to retest the pivot at 163.80 where the 50% Fibonacci line is.Fundamentals:There are no major news.

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/coffee-futures-kc1-h4-potential-for-bearish-drop"
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Precious Metals Monday 09-01-2023

Metals Rally on USD DeclineThe metals market is seeing an encouraging start to the week with both gold and silver in decent demand on Monday. The main driver currently is the sell off in USD on the back of Friday’s December US labour reports. The headline NFP reading was seen above market forecasts at 223k vs 200k expected along with the unemployment rate falling back to 3.5% from 3.7% expected. However, the main focus was on the unexpected drop in average hourly earnings which fell to 0.3% from 0.4% prior.The drop in wages growth has been taken as an indicator that this week’s December US CPI data is likely to reflect further cooling of inflation. With markets keen to gauge the Fed’s next steps and the prospect of a deeper pivot on rates (.25% from 0.5% hikes), Thursday’s data will be the headline data event of the week. The market is looking for headline CPI at 6.5% down from 7.1% which, if seen, should weigh on USD further allowing metals room to run higher still.Alongside the moves in USD, worth keeping an eye on risk sentiment this week also. China reopening its borders at the weekend is a material shift in the global narrative. While there are still grave concerns around the country’s covid situation, markets appear to be shrugging those off for now and instead focusing on the positives. Upside in equities is limiting gains in metals as with the rally we’re seeing in commodity currencies which is also attracting capital flow. Near-term, however, the outlook remains favourable for metals while USD remains under pressure. Ahead of US CPI on Thursday, traders will be looking to Fed’s Powell who speaks tomorrow with traders keen to hear if Powell addresses Friday’s jobs data and the implications for the inflation outlook. Technical ViewsGoldThe rally in gold prices have seen the market piercing above the 1871.04 resistance level. While momentum studies are flagging some bearish divergence, highlighting room for a correction near-term, the broader outlook remains bullish while price holds above the 1791.63 level with 1916.34 the target for bulls.SilverThe rally in silver prices has seen the market trading back up to retest the 24.0073 level. This has proved a sticking point for silver recently though, with price still trading within the bull channel off the 2022 lows, the focus remains on an eventual break higher here targeting 26.0974 above. Should price slip below the channel lows, 22.3205 is the next support area to note.

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/precious-metals-monday-09-01-2023"
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Bitcoin Forecast: Potential Jump Ahead

Bitcoin keeps forming a narrow range between the levels 16300 and 17000, trying to regain its position after Christmas. So far, it seems that Bitcoin might target the supporting level of 15625 and face resistance at the level of 18350. After that, the asset might pull back. So, let’s observe what is going to happen.The price of the currency pair EUR/USD has pulled from the broken downtrend and the level of 1.0500 and formed a bullish engulfing at the end of last Friday. Currently, the asset’s price is signifying a potential jump. At that, the asset is likely to form a bullish flag on the daily chart. This currency pair is on the rise.American stock index S&P 500 has formed a triangle. This might signify a potential drop to the supporting level of 3572. Of course, the index might also break the level of 3935. So, let’s observe what the index is going to do next.

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/bitcoin-forecast-potential-jump-ahead-09-01-2023"
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Market Spotlight: EZ Inflation Falls Further But No ECB Shift Expected Near-Term

EZ CPI Cools AgainThe latest eurozone inflation data seen today has fuelled hopes that the inflationary spiral which ballooned last year, is now passing. Eurozone CPI was seen cooling to 9.2% last month, down from 10.1% the prior month, falling below the 9.6% result the market was looking for on the headline reading. While core inflation was a little stickier, rising to 5.2% from 5% prior, above the 5.1% forecast, the overall response to the data has been positive, suggesting that inflation in the eurozone has now peaked. Additionally, retail sales in the eurozone were seen rising unexpectedly to 0.8% from the prior month’s -1.5% reading, coming in above the 0.5% level forecast.ECB Unlikely to Shift Near-TermIn all, today’s data out of the eurozone is encouraging to say the least. However, with inflation still well above the ECB’s 2% target, there is little to suggest that bank will slow the pace of its tightening program ahead of current projections. Earlier this week we heard ECB’s Villeroy warning that eurozone rates likely wont peak until the summer at least, cautioning that the duration of rates would matter more this year than the levels themselves.EUR Well Bid, EZ Stocks MixedThe market reaction has seen EUR well bid against most of its major trading counterparties. European stocks have been a little stickier with the Dax and the Eurostoxx both treading water, though the CAC40 has seen better demand on the back of the data.Technical ViewsEURGBPThe pair is now testing the upper limit of the .8597- .8869 level range which has framed price action over the last four months. If bulls can break the current resistance, the path is open for a move higher towards the .9276 level longer term. To the downside, .8719 is the main support to note ahead of the range bottom.

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/market-spotlight-ez-inflation-falls-further-but-no-ecb-shift-expected-near-term"
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Share tips of the week - 06 January 2023

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages

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