Germany’s services sector continued to lose momentum in August, marking the third consecutive month of slowing growth, according to a survey released on Wednesday. This trend adds to growing concerns about the overall health of Europe’s largest economy. The HCOB final services Purchasing Managers’ Index (PMI) dropped to 51.2 in …
Read More »European Stocks Drop Amid U.S. Slowdown Fears and Euro Zone Economic Data
European stocks opened sharply lower on Wednesday as concerns over a potential economic slowdown in the United States sent ripples through global markets. Investors also turned their focus to upcoming economic data from the euro zone, adding to the bearish sentiment. Market Overview By 07:10 GMT, the pan-European STOXX 600 …
Read More »Oil Prices Extend Decline Amid Libya Dispute Resolution and Global Demand Concerns
Oil prices continued their downward trend on Wednesday, extending the more than 4% drop seen in the previous session. The market remains under pressure, hovering at its lowest levels since December, driven by expectations of a potential resolution to the political dispute in Libya that has halted oil exports, along …
Read More »Dow Jones breaks support 4/9/2024
Oil, Crude, trading
Read More »USD/JPY trying to hold above support 4/9/2024
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Read More »GBP holds below resistance 4/9/2024
Oil, Crude, trading
Read More »Oil suffers huge losses 4/9/2024
U.S. crude oil futures experienced significant losses, surpassing the downside targets set in the previous trading session at 72.20, and recording a low of 69.75 during today’s Asian session. Technically, the 4-hour chart indicates that the bearish technical structure remains intact and effective, further reinforced by the ongoing negative pressure …
Read More »Gold touches targets and tries to recover 4/9/2024
Gold prices suffered significant losses yesterday, as anticipated in our previous technical report, reaching the key levels of 2486 and then 2470, with a low of $2473 per ounce. From a technical standpoint today, we observe that gold has momentarily stabilized above 2486 and generally above 2476. A closer look …
Read More »Euro awaits confirmation of support break 4/9/2024
Calm, slightly negative trading characterized the movements of the euro against the U.S. dollar, remaining within the anticipated bearish trend. As noted yesterday, further decline depends on a break below the 1.1040 level. From a technical perspective, the 4-hour chart shows that the pair has found solid support around 1.1040. …
Read More »Market Drivers; US Session, September 3
The US dollar has gained momentum, reaching two-week highs against a backdrop of weakening risk-linked assets. This surge follows an inconclusive price action on Monday due to the Labor Day holiday. Dollar Strengthens Amidst Rising Recession Fears The US Dollar Index (DXY) has advanced further, approaching the crucial 102.00 level. …
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