Oil prices rose on Monday, November 16, offsetting some of the previous session’s losses to support hopes that OPEC + will maintain the current production restrictions, overshadowing concerns about the decline in fuel demand due to the growing infection with the Coronavirus and the increase in production in Libya. Prices …
Read More »Japan’s economy growing by more than 21% in Q3
Japan’s economy grew at its fastest pace ever in Q3 of the year, rebounding strongly after the biggest downturn of the post-war era, as improved exports and consumption helped overcome the damage caused by the coronavirus pandemic. However, analysts described the exceptionally strong recovery after the previous severe recession and …
Read More »Gold Reaches a Week High
Gold touched its highest level in a week on Monday, November 16, in light of the dollar’s decline, while the escalation of Coronavirus cases in the United States fueled concerns about the repercussions of the pandemic on the economic recovery, which supported hopes for more monetary stimulus. The spot price …
Read More »Japan Shares Closed 29-year Peak on Rebound in Economic Growth
Japanese stocks touched their highest level in 29 years Monday, November 16, after the economy grew for the first time in four quarters and in light of progress towards a vaccine for Covid-19. The benchmark Nikkei Index closed 2.05% higher at 25,906.93 points, its highest close since June 1991. The …
Read More »Chinese Industrial Production Rose 6.9% in October YoY
Chinese industrial production rose faster than expected in October, while retail sales continued to recover, albeit at a slower pace than expected, as the world’s second-largest economy emerged from the recession that accompanied the spread of the Coronavirus. Data from the National Bureau of Statistics showed that Chinese industrial production …
Read More »German DAX Begins The Week on The Rise
The German DAX index continues achieving gains within the expected bullish path, touching the first target mentioned in the previous analysis at 13140, posting high at 13132. Technically, we tend to be positive, depending on the price building on the pivotal support floor 12920, targeting 13230 as a first target, …
Read More »Dow Jones Maintain Gains
The Dow Jones Industrial Average opened its first weekly trading on the upside, posting its highest level during the morning session at 29720. Technically, looking at the 60-minute chart, we find the RSI continues to defend the bullish bias in conjunction with the positive signals of the 50-day moving average. …
Read More »GBP/JPY Rises Gradually
Positive trading returned to dominate pound’s movements against Japanese yen, benefiting from the 137.10 support floor, heading towards re-testing the 138.30 resistance level. Technically, we lean towards negativity given that trading remains above 137.60 with positive catalysis from the 50-day moving average. From here, we target 138.65 as a first …
Read More »Canadian Dollar Faces Negative Pressure
The Canadian dollar is witnessing a slight bearish bias, which is normal after several consecutive sessions of rally, in addition to facing resistance 1.3175 / 1.3170. Technically, we tend to be negative, given the consolidation of trading below the aforementioned level, in addition to some negativity that began to appear …
Read More »GBP Advancing Against USD
Positive trading dominates the pound against the US dollar after it managed to break 1.3175. On the technical side, we find the 50-day moving average holding the price, as we find the pair continues to get bullish momentum from the RSI. As long as trading remains above 1.3140 / 1.3120, …
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