Barclays Bank maintained its oil price forecast for 2021 and expected Brent crude to reach $ 53 a barrel due to OPEC and its allies controlling production and based on the promotion of a potential Covid-19 vaccine demand in the second half of the year. In the short term, the …
Read More »AstraZeneca Will Have 200 Million Doses of COVID-19 Vaccine by The End of The Year
Pam Cheng, chief operating officer at AstraZeneca, said that the company will have 200 million doses of its candidate vaccine, which it developed in cooperation with the University of Oxford, by the end of 2020, and that 700 million doses will be ready worldwide by the end of Q1 of …
Read More »Oil Prices Continue Their Gains Thanks to Hopes of Corona Vaccine
Oil prices rose 1% on Monday, November 23, to continue their gains, as traders expect a recovery in crude demand due to successful trials of a vaccine for the Coronavirus. Sentiment boosted hopes that OPEC, Russia and other producers, a group known as OPEC +, would continue to curb production. …
Read More »German Flash Manufacturing PMI Eases to 57.9 in November
According to the preliminary manufacturing activity report from IHS/Markit research, released this Monday, the flash version of the German Manufacturing PMI eased to 57.9 in November. The reading was still better than consensus estimates pointing to a fall to 56.5 from a 30-month high level of 58.2 recorded in the …
Read More »Eurozone Flash Manufacturing PMI Comes in at 53.6 For November
According to the preliminary report from IHS/Markit research, Eurozone business activity fell sharply in November as countries introduced more aggressive measures. In fact, the Eurozone manufacturing purchasing managers index (PMI) fell to a three-month low level of 53.6 during the reported month, down from 548 in October. Adding to this, …
Read More »The Turkish Lira is Down by More Than 1%, After Big Gains
The Turkish lira fell 1.3% against the dollar as local investors strengthened their positions in foreign currencies and gold, after a strong rise in the Turkish currency recently. The lira fell to 7.76 from Friday’s close of 7.65. The lira rose from a record low of 8.58 this month after …
Read More »Gold Rises as US Dollar Fell to Lowest Level in Two Years
Gold rose Monday, November 23, as the dollar’s weakness and its decline to its lowest level since 2018 and hopes for more monetary stimulus in the United States to alleviate the economy affected by the pandemic were dispelled optimism about the possibility of distributing a vaccine for Covid-19 next year. …
Read More »German Dax Above Support
German DAX maintains the bullish bias. Technically, we tend to maintain the negative outlook, provided that 13170 is confirmed, which enhances the chances of a rise towards 13220 as a first target, followed by 13290, based on the index’s success in building on the support floor of 13045/13040 with the …
Read More »Dow Jones Faces Temporary Negative Pressure
Negative moves dominated the Dow Jones last week, approaching the target of retesting 29110, to hit a low of 29170. Technically, looking at the 60-minute chart, we find that the RSI continues to provide negative signals with the intraday trading stable below 29445/29440. From here, we will maintain negative expectations …
Read More »GBP/JPY: Maintains Gains
The technical outlook remains unchanged on the pair’s movements, to maintain the bullish path as we expected during the last trading sessions last week, shy of the first target 138.45, posting high at 138.31. Technically, the current moves are witnessing an intraday stability above the breached resistance level of 137.60, …
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