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Read More »GBP retests resistance 18/12/2024
Oil, Crude, trading
Read More »Oil stable below resistance 18/12/2024
US crude oil futures experienced a sharp decline in the previous trading session, reaching a low of $68.84 per barrel. From a technical perspective, the outlook leans negative, supported by clear bearish signals from the Relative Strength Index, which remains below the 50 midline. Furthermore, trading remains stable below the …
Read More »Gold hits targets, eyes on Fed 18/12/2024
Gold prices fulfilled the anticipated negative outlook from the previous report, achieving the initial target at $2634 per ounce and recording a low of $2633. From a technical analysis perspective, a closer examination of the 4-hour chart reveals that the Stochastic indicator is gradually losing upward momentum. Additionally, the price …
Read More »Euro on sideways track 18/12/2024
The EUR/USD pair continues to exhibit narrow sideways trading, confined between support at 1.0470 and resistance at 1.0560. From a technical standpoint, the pair remains under pressure below the 50-day simple moving average, reinforcing the likelihood of a bearish continuation. This is further supported by the negative signals from the …
Read More »Market Drivers; US Session: Cautious Market Awaits Central Bank Decisions
As the year draws to a close, financial markets are navigating a period of heightened uncertainty, with investors closely monitoring the decisions of major central banks. The Federal Reserve’s interest rate decision on Wednesday is particularly significant, as it could have far-reaching implications for global markets.A Hawkish UndercurrentWhile the market …
Read More »Bitcoin A Little Below Record Price, Institutional Demand Surges
Bitcoin’s meteoric rise to a new all-time high of $107,793 this week has been fueled by a surge in institutional adoption. The most famous cryptocurrency is trading at $106,575 at the time of writing Corporate Appetite for BitcoinMicroStrategy’s Massive Purchase:Michael Saylor’s MicroStrategy has once again demonstrated its commitment to Bitcoin, …
Read More »Oil Slumps on Weak Global Economy Ahead of Looming Fed Rate Cut
Oil prices plunged to a one-week low on Tuesday, driven by concerns over weakening global economic conditions and the anticipation of a U.S. Federal Reserve interest rate cut. WTI crude oil is 1.44% down, trading at $69.66 per barrel, while Brent crude is 1.07% down, trading at $73.08 per barrel. …
Read More »Gas and Electricity Prices Surge: A Perfect Storm Brewing
The global energy landscape is facing a perfect storm of soaring gas and electricity prices, driven by a confluence of factors that are set to impact consumers and businesses worldwide. As winter approaches, the situation is expected to worsen, with potential consequences for economies and societies.The Power CrisisThe recent spike …
Read More »Canadian Dollar Slumps as Inflation Cools
The Canadian dollar weakened further against the US dollar (USD) on Tuesday as the latest inflation data revealed a steeper-than-expected decline in headline Consumer Price Index (CPI) inflation. This development has raised concerns about the country’s economic outlook and fueled expectations for further interest rate cuts by the Bank of …
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