Oil, Crude, trading
Read More »GBP/JPY: maintains negative stability 11/5/2022
The British pound fell against its Japanese counterpart during the previous trading session within the descending official track after finding a resistance level around 161.50, which forced the pair to resume the bearish trend again. On the technical side, today, we are inclined to the negativity, relying on the price …
Read More »CAD continues to rise 11/5/2022
The Canadian dollar continues the expected bullish path, approaching a few points from the first target published in the previous analysis at 1.3060, recording the highest price of 1.3052 after building the 1.2960 support level. Technically, we tend to the positivity, relying on the pair’s continuation of obtaining positive momentum …
Read More »GBP needs to confirm breaking the support 11/5/2022
Oil, Crude, trading
Read More »Gold achieves the official target 11/5/2022
The minor bearish trend continues to dominate the movements of the yellow metal, as we expected, touching the official target station during the previous analysis at 1831, recording its lowest level at 1831. On the technical side, today, gold prices found a strong resistance level around 1866, which forced the …
Read More »Euro confused between directional movement and correction 11/5/2022
The movements of the European single currency did not witness much change within sideways movements that tended to the negative and are still confined from the bottom above 1.0500 and from above below at 1.0580; therefore, the technical outlook has not changed. On the technical side today, and by looking …
Read More »Market Drivers – US Session – Tuesday 10 May
Germany and the US will publish their latest inflation figures on Wednesday. German CPI is expected to be confirmed at 7.4% YoY, while the US reading is foreseen at 8.1%. An in-line or lower than anticipated reading may boost optimism, to the benefit of equities and to the detriment of …
Read More »Important Facts To Know About Nopec Bill.
After twenty years of failed attempts, the “No Oil Producing and Exporting Cartels” Act, NOPEC, was passed by Senate panel on Thursday in a 17:4 vote. Today, there are many things “influencing” the market purposefully, including releases from strategic petroleum reserves, which are explicitly designed to influence prices in a …
Read More »Fed’s Bostic: GDP will increase by 2.6% this year
The US GDP will increase by 2.6% this year according to Atlanta Fed President Raphael Bostic. The Fed’s policymaker also mentioned that the economy is strong, and demand is high, adding that Fed policy must be robust, vigilant, and adaptive.Following the comments, the EUR/USD pair is defensive around 1.0530, keeping …
Read More »WTI Retreats Near $98.00 On Inventories, EIA Data
The American WTI crude oil prices dropped to a fortnight low after weekly private oil inventory data had been released on Tuesday, before bouncing around $98.00 during the initial Asian session on Wednesday. The energy benchmark’s latest rebound to $98.40, however, remains doubtful amid sour market sentiment and uncertainty just …
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