British retail sales fell last month when a four-week lockdown in England caused stores selling non-essential goods to close, dropping clothing sales by about a fifth and adding to the hardships in some of the main stores hit hardest. The Office for National Statistics said retail sales volumes overall fell …
Read More »Eurozone Current Account Surplus Widened in October
Data from the European Central Bank showed that the revised current account surplus of the 19 Eurozone countries widened to 26.6 billion euros in October from 25.2 billion in September thanks to a rise in the contribution of trade in goods and services. In the twelve months to September, the …
Read More »Oil Retreating From a 9-Month Peak on Demand Concerns as COVID-19 Cases Soar
Oil prices fell on Friday, but remained close to the nine-month peak they reached in the previous session, as rising Covid-19 cases put pressure on demand for fuel and US lawmakers are fighting over a $900 billion economic stimulus package. US West Texas Intermediate crude futures fell 17 cents, or …
Read More »German IFO Business Climate Index Beats Estimates
The headline German IFO Business Climate Index came in at 92.1 in December, stronger than last month’s 90.7 while beating the consensus estimates pointing to a reading of 90.0. Meanwhile, the Current Economic Assessment arrived at 91.3 points in the reported month as compared to last month’s 90.0 and 89.0 …
Read More »Gold Heading For a Third Weekly Gain as Dealers Expect US Aid
Gold prices retreated as the dollar rebounded after growing hopes of approval of stimulus in the United States led gold to rise for three days, putting the yellow metal on the path of achieving gains for the third week in a row. And gold in spot transactions fell 0.1% to …
Read More »Nikkei Closed Lower on Virus Fears But going to score Weekly Gains
Japan’s Nikkei index closed lower on Friday on concerns about the risks that a surge in COVID-19 cases in Tokyo posed to the prospects for a recovery in the world’s third-largest economy, but the index made weekly gains. The Nikkei index lost 0.16% to 26,763.39 points, while the broader TOPIX …
Read More »German Dax Touches Goals
positive trading dominated the German DAX, touching goal of 13,720, to record its highest level at 13,720. On the technical side today, as the index continues to receive a positive stimulus from the 50-day moving average, in addition to the positive signs coming from the RSI on short time frames. …
Read More »Dow Jones Settled Above Support
The Dow Jones Industrial Average maintained its gains, benefiting from building on the support floor mentioned in yesterday’s session, at 30,035. On the technical side, we tend to be positive in our trading, but cautiously depending on the index price being above the 30,000/29,990 support level, accompanied by the persistence …
Read More »GBP/JPY Witnessing a Bearish Tendency
We maintained our intraday neutrality during the previous analysis, despite our trading bias towards the negative, due to the conflicting technical signals and the high level of risks. The current moves of the pound against the Japanese yen are witnessing a bearish tendency as a result of stabilizing below the …
Read More »Canadian Dollar Found Solid Support Floor
The pair found a solid support floor around the support level of the psychological barrier mentioned during the previous analysis at 1.2700, to start its daily trading with a slight upward slope. Technically speaking, we tend to be positive in the coming hours, relying on trading stability above 1.2700 in …
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