The British Pound succeeded in achieving the positive outlook, as we expected, touching the first target to be achieved at 1.3310, to hit its highest level at 1.3113. Technially, and with a closer look at the 4-hour chart, we find positive crossover signs appearing on the stochastic, supporting the return …
Read More »Oil: Temporary Negative Pressure, Eyes on Inventory
Oil, Crude, trading
Read More »Gold: Negative Pressure Still Intact
The bearish momentum continues to dominate gold’s movements within the expected bearish path, trying to break the bottom mentioned during the previous analysis, located at 1860, to record its lowest level at 1856. technically, the current trading is still stable below the resistance level of 1880, and with a closer …
Read More »Euro Close To Re-Test Support
The euro is showing a negative bias after the single currency failed to stabilize for a long time above the psychological barrier of 1.1800 resistance and is now hovering around the 1.1775 support level. Technically, looking at 240-minutes chart, we find that negative signs have started to appear on the …
Read More »Christine Lagarde’s Speech Summary
Christine Lagarde, President of the European Central Bank, is delivering her remarks at the ECB Forum on Central Banking 2020. “Developments in the exchange rate may have a negative impact on the path of inflation.”“If this second wave of the virus proves to be less intense than the first, it …
Read More »US: Mortgage Applications Fall For The First Time in Three Weeks
Data released by the Mortgage Bankers Association showed that mortgage applications in the United States fell 0.5% in the week ending November 6th.It marked the first drop in three weeks, after an increase of 3.8% in the previous period. The average contract interest rate for 30-year fixed-rate mortgages with conforming …
Read More »Oil Rises to $45 For The First Time Since August!
Oil rose to $45 a barrel during Europen session for the first time in 10 weeks. Where the apparent decline in US crude inventories reinforced the rise in oil prices, which was mainly supported by Pfizer’s vaccine. The American Petroleum Institute (API) reported that crude inventories fell 5.15 million barrels …
Read More »Pfizer And BioNTech Reach Agreement With EU to Supply 200 Million Doses of Coronavirus Vaccine
Pfizer and BioNTech have reached an agreement with the European Union (EU) to supply the EU with 200 million doses of their coronavirus vaccine, as reported by Reuters. “Agreement provides a supply of 200 million doses and an option to request additional 100 million doses.”“Deliveries anticipated to start by end of 2020, …
Read More »Gold Rises as US Dollar Weakens And Covid-19 Cases Mount
Gold rose on Wednesday, November 11th, thanks to a weak dollar as investors study the logistical challenges surrounding the massive production of a potential Covid-19 vaccine in light of the increase in new virus infections, which strengthens the bet on greater economic support. And gold rose in the spot market …
Read More »US Dollar Down on Covid-19 Concern
The dollar incurred losses on Wednesday, November 11, as concerns about how the Covid-19 vaccine would be distributed over optimism about it, as well as the growing number of infections with the Coronavirus that causes the disease in the United States. The New Zealand dollar recovered from initial losses to …
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