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Gold prices witnessed a trading session that tended to be positive, after it succeeded in building on the support floor published during the previous technical report at 1764, and as a reminder, we adhered to intraday neutrality yesterday due to the conflicting technical signals, explaining that the activation of buying …

We adhered to intraday neutrality during the previous report, due to the conflicting technical signals, explaining that activating buying positions depends on consolidation above 1.0510, to enhance the chances of ascending to visit 1.0560. Technically, we find the euro-dollar pair still hovering around the 1.0510 level, which constitutes one of …

The US dollar recorded fresh losses on Wednesday against most of major rival currencies. The dollar’s decline was contained, but it is obvious that further declines are probable.Earlier in the day, China announced a series of measures easing Covid-linked restrictions. The US Treasury yield curve inverted the most in over …

West Texas Intermediate has fallen to the lowest in nearly one year. Recession-linked concerns dominate the market sentiment and the Fed’s rate decision next week is awaited with all open eyes.The American crude fell to the lowest in nearly a year on Wednesday despite the good news in China’s steps …

According to Credit Suisse’s Zoltan Pozsar “gold could double to $3,600 per ounce if Russia responds to G7’s oil price cap by a decision accepting gold for crude oil amid what he has described as unthinkable macro scenarios”.Pozsar further noted that a year-end money-market liquidity crunch is probable if Russia …

The AUD/USD pair holds on positive performance despite risk aversion. The Australian economy expanded less than expected in the third quarter, so investors’ eyes are still on the economic data.The AUD/USD pair is higher on the day having climbed from a low of 0.6668 and reaching a high of 0.6734 …

Weaker than expected economic data in China threatens to derail economic growth and trigger risk aversion. The US central bank seems pressured by Solid US economic data released since last Friday ahead of the awaited US inflation data.The GBP/USD pair is upward biased, and could even test Tuesday’s high of …

Wall Street’s main indexes opened lower on Wednesday as warnings of a looming recession from major Wall Street bankers offset optimism around China relaxing its strict zero-COVID rules.The Dow Jones Industrial Average fell 39.9 points, or 0.12%, at the open to 33556.4. The S&P 500 fell 8.0 points, or 0.20%, …

The USD/CAD falls during the US tgrading session after the Bank of Canada hiked rates by 50 bps, from 3.75% to 4.25%, in line with analysts’ expectations, triggering a fall from around 1.3700 to 1.3505. At the time of writing, the USD/CAD remains volatile, trading around 1.3600-1.3615.The Bank of Canada …

Russian President Vladimir Putin said on Wednesday that the threat of a nuclear war is on the rise. Putin’s comments do not seem to be having a significant impact on risk appetite. At the time of writing, the performance of S&P 500 Index is unchanged on the day at 3,940.Putin …