Oil prices saw a modest recovery on Tuesday, buoyed by the U.S. government’s plan to purchase up to 3 million barrels for the Strategic Petroleum Reserve (SPR), yet concerns lingered over weaker global demand growth. As of 10:26 GMT, Brent crude futures rose 1.04% to $72.16 a barrel, while U.S. …
Read More »Gold Near Record Highs Amid Election Uncertainty and Key Data Releases
Gold prices inched closer to record highs on Tuesday, driven by uncertainty over the upcoming 2024 U.S. presidential election and critical economic reports that are likely to shape Federal Reserve rate decisions. As of 07:00 ET (11:00 GMT), Spot gold rose 0.3% to $2,750.25 an ounce, while December gold futures …
Read More »U.S. Dollar Holds Strong Ahead of Key Economic Data; Japanese Yen Faces Pressure Amid Political Uncertainty
The U.S. dollar held steady at high levels on Tuesday, bolstered by recent U.S. economic data that suggests resilience in the economy and anticipation of a slower pace of rate cuts from the Federal Reserve. Meanwhile, the Japanese yen remained near a three-month low due to post-election political uncertainty. As …
Read More »Dow Jones tries to recover 29/10/2024
Oil, Crude, trading
Read More »USDJPY trying positively 29/10/2024
japanese-yen
Read More »GBP faces negative pressure 29/10/2024
Oil, Crude, trading
Read More »Gold records lower highs 29/10/2024
Gold prices are currently showing positive momentum as they attempt to breach the recent peak of $2758 per ounce. Technical Analysis: Analyzing the 4-hour chart, gold has started forming lower peaks, suggesting a potential continuation of a downward correction. The Stochastic indicator is also providing negative signals, indicating a possibility …
Read More »Euro awaits confirmation of break 29/10/2024
The EUR/USD pair has been trading sideways, attempting to hold above the support level of 1.0760. However, positive movement has been limited, with the pair struggling to rise above the main resistance at 1.0850. Technical Analysis: On the 240-minute chart, the 50-day simple moving average indicates potential for further decline, …
Read More »Market Drivers; US Session
US Dollar Holds Steady Amidst Economic Data and Election SpeculationThe US Dollar Index (DXY) traded in a narrow range near the 104.30 level on Tuesday, as investors balanced expectations for key economic data releases with growing speculation ahead of the November 5 US election.Key Economic DataA series of important US …
Read More »US Dollar Retreats Amid Profit-Taking and Anticipation of Key Economic Data
US Dollar Pauses as Profit-Taking Sets In, Key Economic Data AwaitedThe US Dollar Index (DXY) retreated on Monday after a recent rally, as investors took profits ahead of a pivotal week for economic data releases. While the US economy continues to show signs of strength, concerns about potential interest rate …
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