Gold prices managed to touch the first target published during the previous analysis, located at the price of 1865, recording its highest level during the first trading sessions of this week around 1865. Technically, prices fell within a limited bearish slope that aimed to retest the 1850 support level, and …
Read More »The euro faces a re-test scenario 31/5/2022
Amid quiet trading, the single European currency maintained its positive stability within the expected bullish path during the previous analysis, with a gradual rise towards the required target of 1.0800, recording the highest during the last session’s trading of 1.0787. Technically, today, the current movements of the pair are witnessing …
Read More »EU diplomat: Bloc agrees to ban 90% of Russian oil imports by end of 2022
EU leaders are meeting for an off-schedule summit with some progress regarding Russian sanctions. The EU Council President Charles Michel said the officials have agreed to ban the export of Russian oil to the EU. According to Michel, the EU ”agrees to de-swifting the largest Russian bank Sberbank, banning 3 …
Read More »Market Drivers – US Session – Monday 30 May
The US dollar remains under pressure in the first trading day of the week, sliding against most major rival currencies. The USD/JPY pair, however, edged higher amid the better tone of stocks markets.Economic Data No remarkable economic data was released on Monday. Other Developments EU representatives are still discussing the …
Read More »RBNZ’s Hawkesby: Need to tighten conditions past neutral of 2%
The Reserve Bank of New Zealand General Manager Christian Hawkesby said, on Monday, that the central bank needs to tighten conditions past neutral of 2% and reduce stimulus. Hawkesby forecasts a period of subdued consumption. He also said the risk of a recession is a possibility. The NZD was boosted …
Read More »Are Knots Getting Tighter Around Russian Economy?
If the Russian ruble is, against any practical scale, an indicator of the nation’s economic conditions, one can easily conclude that an initial storm has been caused by the West’s sanctions. When the West reacted to Russia’s military operation in Ukraine with a bulk of financial and trade sanctions, the …
Read More »Why do some economists see US stagflation inevitable?
The first quarter of 2022 recorded US GDP growth rate of minus 1.5%, although nearly 1.7 million jobs have been created. For the second quarter, job growth is expected slow down, but most economists are forecasting growth to be in the 2% to 3% range. If economists are wrong and …
Read More »Cash Crisis Amid China’s Stalling Economy
The cash crisis emerging at four rural banks in the central Chinese province of Henan is currently every saver’s nastiest nightmare.Deposits at four rural banks in the central Chinese province of Henan have been frozen since April 18, with looming protests in the capital city of Zhengzhou despite President Xi …
Read More »USD/CAD slides to fresh monthly lows
The USD/CAD continued to decline during the North American session and recorded a fresh one-month low at 1.2649. the pair is hovering now near the lows, holding onto daily losses, about to post the fourth consecutive decline.The combination of an improvement in market sentiment, higher crude oil prices and a …
Read More »Gold steadies above $1850
Gold begins the trading week with relatively positive performance, up by 0.20%. the Holiday in the US is expected to keep the precious metal’s prices within a tighter range amid a busy US economic calendar week.An absent US economic docket on Monday keeps gold traders leaning on market sentiment and …
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