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The Canadian dollar made positive attempts targeting a retest of the pivotal resistance 1.3120, but was unable to breach it yet. Technically, by looking at the 240-minute chart, we find that the stochastic has started to provide negative signals as a result of entering the overbought phase. Consequently, we will …

The British pound continues to rise against the US dollar, maintaining the bullish path, benefiting from stability above the support level 1.3170, approaching a few points difference from the goal published in the previous analysis at 1.3285, posting a peak at 1.3273. Technically, we are biased towards the positivity given …

Oil, Crude, trading

The yellow metal prices retreated significantly during the early trading session of the current session, after facing strong pressure from the 1901 resistance level, to hit the 1875 low. Technically, the simple moving averages continue to pressure the price from the top, coinciding with the clear negative signs on the …

The euro continues to gradually rise to the upside against its US counterpart within the expected bullish path, touching the target required to be achieved during the previous analysis at 1.1870, reaching a peak at 1.1894. Technically, looking at the 4-hour chart, we find negative signs appearing on the stochastic …

The Italian government approved on Monday its budget for next year, with a reduced level of targeted deficit, Reuters reported. The 2021 budget has set a target of a 7% fiscal deficit compared to the Italian gross domestic product (GDP), down from 10.8% in 2020. However, it is expected that …

Crude oil inventories in the United States increased by 4.2 million barrels last week, according to data by the American Petroleum Institute (API) on Tuesday. Meanwhile, gasoline stockpiles rose by 256,000 barrels, while distillate inventories declined by 5 million barrels.

Oil prices showed a mixed performance on Tuesday, as the market awaits a firm commitment from the OPEC+ alliance towards the output cuts. Brent crude futures for January delivery fell by 7 cents, or 0.2%, to finish at $43.75 per barrel. Meanwhile, the West Texas Intermediate (WTI) futures for December …

Gold prices closed lower on Tuesday, posting its first decline in four sessions, amid news about positive results by COVID-19 vaccines. Gold futures for December delivery declined by $2.70, or 0.1%, and settled at $1,885.10 per ounce. Meanwhile, silver futures for December delivery decreased by 15 cents, or 0.6%, and …

President of the Federal Reserve Bank of Atlanta, Raphael Bostic, said on Tuesday that weak October retail sales are showing short-term risk to economic recovery in the United States from the impact of the Coronavirus pandemic, Reuters reported. “We have short-term and immediate-term concerns with the spike in the virus …