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USD/CAD started to stall on the offer and bulls could be moving in for a run towards old support near a 50% mean reversion of the bearish impulse on the daily chart located at 1.2936. The M-formation is a reversion pattern that typically results in a retest of the neckline …

On Wednesday, the non-yielding metal is almost flat as investors assess the pace of the Fed’s tightening. A buoyant US Dollar keeps gold defensive, though holding above $1800. Gold ETF holdings have fallen for a ninth consecutive day.The Gold Index is trading negatively in the day, though it remains at …

The American WTI crude oil has retreated back towards $110, with oil prices in downturn on deteriorated risk sentiment. But these dips proved attractive to potential buyers as lockdowns ease in China while Russian OPEC output is still negotiated.Updates about an easing of lockdown restrictions in China failed to hold …

Housing Starts in the US fell 0.2% in April to 1.724M, below last month’s 1.728M and expectations for a rise to 1.765M. Building Permits, meanwhile, fell from 1.879M in March to 1.819M in April, a drop of 3.2%. That was above the expected drop to 1.812M. 

The pace of annual inflation in Canada according to the Consumer Price Index (CPI) rose to 6.8% in April, data released by Statistics Canada on Wednesday showed. That was slightly above expectations for a YoY rate of CPI to come in unchanged from March at 6.7% in April. MoM, prices …

A US proposal to impose tariffs on Russian oil means buyers will have to pay more or look for alternative suppliers, Kremlin spokesman Dmitry Peskov said on Wednesday, May 18. And US Treasury Secretary Janet Yellen said on Tuesday, May 17, that the European Union could combine imposing tariffs on …

On Wednesday, gold prices settled near their lowest levels since late January, under pressure from the recovery of the dollar and the hawkish stance of the Federal Reserve Chairman on inflation. By 0831 GMT, gold recorded in spot transactions 1815.39 dollars an ounce. And US gold futures fell 0.2 percent …

The dollar rose on Wednesday, a day after it suffered its biggest loss in more than two months after US Federal Reserve Chairman Jerome Powell emphasized tighter monetary policy as the US central bank sought to contain rising inflation. Powell pledged that the central bank would raise interest rates as …

Eurozone inflation held steady at a record high 7.4% in April, driven by soaring fuel and food costs, the EU’s statistics agency said today, lowering its estimate from a preliminary 7.5%. Inflation has soared over the past year, first on post-Covid supply bottlenecks and latterly on knock-on effects from Russia’s …

Japan’s Nikkei hit a two-week closing high on Wednesday and major tech stocks led the way after US stocks closed significantly higher overnight on strong retail sales data. The Nikkei index closed up 0.94 percent at 26,911.20 points, after briefly exceeding the 27,000 points level, its highest closing level since …