Gold traded in a tight range above the 1797 support and below the 1816 resistance over the past sessions. On the daily technical side, gold prices are witnessing stability above 1797, 50.0% Fibonacci correction, which represents the key to protecting the bullish bias and the positive motive for the 50-day …
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The technical outlook is unchanged, and the EUR has not changed much within a sideways bullish trend. However, technically, and with careful consideration of the 4-hour chart, we find a conflict between the positive motive coming from the 50-day moving average, which is trying to push the price to the …
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The New York Stock Exchange (NYSE) finished Monday’s trading with another record-breaking performance amid an improved risk sentiment among Wall Street investors, who are anticipating major economic data led by the reading of the inflation rate, with the Consumer Price Index (CPI) June reading due tomorrow. The Dow Jones Industrial …
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U.S. Treasury bond yields leveled up on Monday, after falling below 1.3% last week, amid anticipation for economic data and more indicators that can reveal the progress on the road to recovery from the Coronavirus pandemic. In addition, investors await the Federal Reserve Chairman Jerome Powell’s testimony before Congress on …
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Oil prices posted on Monday the first decline in three sessions due to the rising concerns about the resurgence of the Coronavirus pandemic with the spread of the Delta variant in many parts of the world. Uncertainty about the pandemic and economic recovery is negatively reflecting on the expectations for …
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The European Central Bank (ECB) is expected to lay out a new policy path during its upcoming meeting after a change in its inflation strategy. The central bank is now able to tolerate inflation higher than the 2% target, keeping in mind that it does not plan to end the …
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Gold prices declined on Monday as the U.S. Dollar rose across the board, and amid a rebound in stock markets hitting new record highs with an improvement in risk sentiment among investors, which weighed on the demand for safe havens. In addition, the decline came as a correction movement with …
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European stocks surged on Monday, rising for the second consecutive session and hitting new record highs amid anticipation for the earnings reports by major listed companies across the continent and around the globe. The STOXX Europe 600 index finished higher by 3.16 points or 0.69% to finish at an all-time …
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President of the Federal Reserve Bank of New York, John Williams, believe the Fed’s asset purchases is contributing to lower housing costs. Williams believe that not only do purchases of mortgage-backed securities reflect on the housing market, but so do the buying of Treasuries by the Fed. “Both of them …
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The main indices of the New York Stock Exchange (NYSE) opened the week on a positive note, with the Nasdaq and the S&P 500 indices hitting new record highs in early Monday trade before easing, as Wall Street investors are focusing on financial results and economic data. Markets anticipate the …
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