OPEC+ Supply Increase Below ExpectationsOil prices climbed on Tuesday after OPEC+ announced a much smaller-than-expected production increase, easing fears of a sudden supply glut. By 06:45 GMT, Brent crude futures rose 51 cents (0.77%) to $66.53 per barrel, while U.S. West Texas Intermediate (WTI) gained 50 cents (0.8%) to $62.76 …
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The Dow Jones Industrial Average (DJI30) extended its downward move in line with the expected trajectory outlined in the previous report, with a break below 45,450 increasing selling pressure and driving the index to a low of 45,321. Technical Outlook – 4-hour timeframe: The 50-period simple moving average (SMA) has …
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The USD/CAD pair is consolidating near the psychological resistance at 1.3800, but has yet to achieve a decisive breakout. Technical Outlook – 4-hour timeframe: The 1.3800 level remains a firm resistance zone on short-term charts, while the Relative Strength Index (RSI) is beginning to issue negative signals, reflecting waning momentum …
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The technical outlook for the GBP/USD pair remains unchanged, with price action showing little variation as the pair continues its gradual intraday recovery, attempting to hold above the key psychological support at 1.3500. Technical Outlook – 4-hour timeframe: The Relative Strength Index (RSI) has cleared oversold territory and is beginning …
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US crude oil futures (WTI) staged a cautious climb from the pivotal support at 61.60, with stability above this level reinforcing the intraday bullish wave. Technical Outlook – 4-hour timeframe: Holding above 61.60 strengthened the rebound and added positive momentum, as reflected by the Relative Strength Index (RSI), which has …
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Gold prices (XAU/USD) extended their rally to new record highs, building on the bullish trajectory highlighted in the previous report. After decisively breaching the 3,600 resistance, the metal advanced toward successive resistance levels, reaching an intraday high of $3,657 per ounce during today’s morning trade. Technical Outlook – 4-hour timeframe: …
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The EUR/USD pair extended its upward momentum in line with the previous report’s positive outlook, breaking through the key resistance at 1.1760 and reaching a high of 1.1778. Technical Outlook – 4-hour timeframe: Intraday price action remains bullish, supported by stability above the ascending trend line. The 50-period simple moving …
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The euro has recently shown surprising resilience, even as a political crisis deepens in France, Europe’s second-largest economy. On the surface, the currency’s gains appear to be a simple story of a strengthening euro against a weakening US dollar, driven by softer US jobs data. However, this is a dangerous …
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The US Dollar and Japanese Yen have been locked in a state of high volatility, with the USD/JPY pair currently hovering around 147.46. This tight, indecisive trading range, marked by a wide intraday swing, speaks to a market grappling with contradictory signals. On one hand, the pair has shed value …
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The financial world is buzzing with a renewed sense of caution, and the numbers tell the story. The yield on the 10-year Treasury bond is continuing its sharp decline, now hovering near its lowest point of the year. This drop, which pushes bond prices higher, is largely driven by growing …
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