The single European currency continued its quiet trading in a bearish context, as we expected it gradually approached the first official target published during the previous analysis, 1.1975, to record its lowest price during the previous session at 1.1984. On the technical side, today we witness a stability of the …
Read More »Eurozone Business Growth Accelerated in April
Business activity accelerated in the euro area last month, as the dominant service sector in the region ignored renewed lockdown measures and resumed growth, according to a survey on Wednesday that also indicated that companies are facing rising raw material costs. Europe is facing a third wave of the Coronavirus, …
Read More »European Stocks Rebound After Selling Spree as Mining Sector Jumps
European stocks recovered on Wednesday May 5th from a sharp sell-off in the previous session, as higher commodity prices contributed to the rise in mining companies’ shares, while the business results season maintained positive momentum, improving sentiment in the markets. The European Stoxx600 index rose 0.8% in early trade, the …
Read More »The Dollar Finding it Difficult to Continue Its Gains Amid Talk of a Possible US Interest Rate Hike
The dollar tried to extend its gains Wednesday May 5th amid talk of a possible US interest rate hike and a wave of tech stocks selling undermining risk appetite. Yesterday’s recovery in the dollar pressured the euro, which fell to $1.2021 and threatens to break an important support range between …
Read More »Canadian Province of Alberta Confirms First Death Related to AstraZeneca Vaccine – Reuters
The head of the medical sector in the Canadian province of Alberta said in a statement that the province witnessed the first death related to the AstraZeneca vaccine against Covid-19 disease. Late on Tuesday, he said that a woman in her 50s had died after being injected with the vaccine. …
Read More »Gold Prices Are Rising as Appetite Strengthens Supporting The Dollar’s Decline
Gold prices rose on Wednesday, May 5, supported by the dollar’s decline, but the gains were limited after US Treasury Secretary Janet Yellen said interest rates may need to be raised. Spot gold rose 0.2% to 1,781.13 dollars an ounce. US gold futures rose 0.3% to $1781.50. The dollar index …
Read More »Oil Prices Rise After Sharp Drop in US Crude Inventories
Oil prices rose on Wednesday, May 5, continuing the gains from the previous session after industry data indicated that US crude inventories fell by much more than expected last week, reinforcing positive views of fuel demand in the world’s largest economies. US West Texas Intermediate crude futures rose 48 cents, …
Read More »Bitcoin Faces Selling Pressure
Negative trading dominated Bitcoin’s movements, re-testing the support mentioned in the previous analysis, through which we aimed to re-test 55,800, to reach lowest level at 53,236. On the technical side, we find the stochastic indicator started losing bullish momentum, in addition to the negative pressure of the 50-day moving average. …
Read More »Dax Gives up Recent Gains
The German DAX index declined significantly after failing to maintain the trading level above the solid support floor 15,200, explaining that breaking the aforementioned level is able to completely thwart the bullish scenario and put the index price under negative pressure targeting 15,150, and then 15,055, to reach its lowest …
Read More »Dow Jones Breaks The Support And Negativity Scenario Remains
The Dow Jones Industrial Average retreated significantly during the previous trading session, nullifying the positive outlook and touching stop-loss published in the previous analysis at the price of 33,860. As a reminder, we indicated that any attempts to break the aforementioned level will stop the bullish tendency and put the …
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