Oil, Crude, trading
Read More »Gold breaks through the resistance and resumes the rise 30/5/2022
Quiet positive trades dominated gold’s movements during the previous session’s trading. After retesting the strong support level at 1840 price, it returned within the bullish path, now stable around the session’s highest level around 1857 resistance. Technically, we explained yesterday that the condition for continuing the rise is cohesion above …
Read More »The Euro starts positively and hovers around a pivotal resistance 30/5/2022
The euro started its first weekly trading with a noticeable rise within the expected bullish context during last Friday’s analysis. It managed to breach 1.0670 resistance level, to reach its highest level during the morning trading of the current session at 1.0762. Technically, the euro is now hovering around the …
Read More »Financial Markets’ Weekly Recap, 23 – 27 May
Wall Street closed sharply higher on Friday, as signs of inflation peaking and then data on consumer spending increased investor optimism that the Federal Reserve would be able to tighten monetary policy without pushing the economy into recession. All three major US stock indexes halted their longest streak of weekly …
Read More »Market Drivers – US Session – 27 May
The EUR/USD reached a fresh four-week high, around 1.0765, but in the last hour, retreated 30 pips, as the New York session come to close, on a positive trading session, courtesy of positive US data. At 1.0735, the EUR/USD is set to record weekly gains of 1.66% amidst a week …
Read More »Bitcoin Still Trapped Below USD 30,000
Crypto traders remain committed to risk-off after having experienced nine-week decline. Bitcoin is expected to further fall 27% decline this month, although it is up 10% from its recent extreme low at $25,840 on 12 May.The most famous cryptocurrency declined by nearly 3% over the past 24 hours’ trading and …
Read More »US benefits depend on Pacific trade pact
While the United States did not lose the trade war, it has not won it either. China’s economy has more keenly felt the brunt of increased tariffs, but if the goal was to force China to change its unfair trade practices, that effort has fallen flat.The United States has long …
Read More »AUD/USD hits fresh highs on PCE data, ahead of Q1 GDP
The Australian dollar reclaims the 0.7100 mark and records a fresh three-week high, up 0.83%. At 0.7159, the AUD/USD reflects the upbeat market sentiment amid the release of high US inflation, though ticking down from the March figure.Before Wall Street opened, the US Department of Commerce revealed that inflationary pressures …
Read More »Gold steadies around $1850s, hopeful for a catalyst to $1900
Gold price climbs during the New York session but is still unable to challenge the weekly highs and remains glued to the 20-day moving average (DMA) near the $1848.48 area. Gold seems to aim at finishing the week’s trading with some 0.37% gains. US Core PCE eases from 5.1% YoY, …
Read More »USD/CAD’s selling pressure stands around 1.2780s
The Canadian dollar is recording goodish gains in the week of 0.85%. Friday’s positive market sentiment boosted the appetite for high-beta currencies, like the CAD.The USD/CAD edges lower in the North American session, extending its weekly losses for the third successive week as investors shrugged off an aggressive Fed, as …
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