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Oil, Crude, trading

The yellow metal achieved noticeable gains yesterday, nullifying the negative outlook as we expected. We relied on the trading stability below the 1770/1768 resistance level, touching the stop-loss order at 1770. We mentioned that any attempts to breach 1770 would cancel the bearish scenario immediately and lead Gold to achieve …

The euro’s movements against the US dollar witnessed an upward bias during the last trading session. The pair succeeded in retesting the resistance level of the psychological barrier 1.1600, canceling the expected negative outlook. Technically, and by looking at the 240-minute chart, we notice that the 50-day moving average has …

Consumer Price Index data from the U. S. Labor Department and FOMC minutes represented the key market drivers on Wednesday. Inflation is still steering the both the U. S. economy and fiscal policy as prices continued their ascent in September. Social Security benefits will rise 5.9% in 2022, the highest …

Turkey’s President Tayyip Erdogan dismissed three central bank monetary policy committee members on Thursday. Erdogan appointed two new members in their place according to the Turkish Official Gazette, sending the lira to new record lows. Erdogan appointed Taha Cakmak as a deputy central bank governor and Yusuf Tuna as an …

Prices of residential property across New Zealand rose by 15.4% to $795,000 in September 2021 compared to $689,000 in September 2020, according to the latest data from the Real Estate Institute of New Zealand (REINZ).Seven out of 16 regions reached new record median prices, the most since April 2021. Nine …

AUD/USD is second whereas the Canadian dollar holds first place on Wednesday in New York closing in the countdown just hours before Thursday’s Asian session’s key event that will reveal Australia’s jobs data for September.At the closing bell, AUD/USD was 0.45% higher on the day at 0.7380 after moving from …

China’s yuan inched higher against the dollar on Wednesday, as investors digested upbeat exports data and shifted focus to whether the central bank would overturn maturing loans later this week.In the spot market, the onshore yuan opened at 6.4509 per dollar and touched 6.4449, before ending at 6.4452, 20 pips …

Western Texas Intermediate crude oil benchmark hardly progresses by 0.05%, it is trading at $79.94 during the New York session.The market sentiment improved through the U.S. session, as depicted by U. S. equity indexes rising between 0.01% and 0.65%. The U.S. dollar Index, which influences the price of crude oil, …

The dollar sold off on Wednesday pushed lower by falling US Treasury yields. The market mood was depressing throughout most of the day.Yields were weaker ever since the day started, but accelerated their slump following the release of US inflation data. The September Consumer Price Index was upwardly revised to …