Gold prices succeeded in achieving the expected negative outlook during the last analysis, located at the price of 1838, to record its lowest price during the previous session in 1831. On the technical side, and by looking at the chart at a 240-minute chart, we notice that the price continues …
Read More »Euro Breaks Support
Negative trading dominated the moves of the euro against the US dollar within the expected bearish path, in which we relied on confirming a break of 1.2120 in his way to touch the first official leg of the break 1.2065, recording its lowest price at 1.2058. Technically, and with a …
Read More »US: Durable Goods Orders Rise by 0.2% in December
Durable Goods Orders in the United States rose by 0.2%, or $0.4 billion, to $254.3 billion in December, the data published by the US Census Bureau showed on Wednesday. This reading followed November’s increase of 1.2% and missed the market expectation of 0.9%.
Read More »GBP/USD Retreats Further Ahead of FOMC
GBP/USD continued its corrective slide from several-month highs, and reached its daily low, with a target of 1.3700. After optimism about the launch of Covid 19 vaccines and hopes for a global economic recovery faded, along with doubts about the timing of the US stimulus plan, all this affected the …
Read More »Germany’s Economic Institute DIW: Economy Likely to Contract 3% in Q1 2021
Germany, Europe’s largest economy probably contracted by 3% in the January to March period, the latest forecasts published by Germany’s economic institute DIW showed on Wednesday.
Read More »AstraZeneca Pulls Out From Meeting With EU on Vaccine Supplies – Reuters
AstraZeneca has pulled out from the meeting with the European Union officials on coronavirus vaccine supplies that was scheduled to take place on Wednesday, Reuters reported, citing an EU official familiar with the matter.
Read More »Currencies Overview: Dollar Rallied in Contrast to Euro Before The US Fed Meeting
The dollar rose against a basket of currencies on Wednesday, January 27th, as markets awaited comments by US Federal Reserve Chairman Jerome Powell, who is likely to renew his commitment to a super-easing policy. The dollar compensated for declines against riskier currencies, even as hopes for a pandemic recovery received …
Read More »European Stocks Fall Despite Earnings Results
European stocks fell on Wednesday under the weight of fears of a slow economic recovery while most investors were reluctant to take positions ahead of the US Federal Reserve’s decision on monetary policy. The European Stoxx600 index fell 0.4% in early trade after losses in Asian markets and Wall Street. …
Read More »Oil Rises With The Decline in US Stocks And New Cases of Covid in China
Oil prices rose on Wednesday, January 27, after data for the sector showed that US crude inventories fell unexpectedly last week, and China, the second-largest consumer of oil in the world, recorded the lowest daily level of increase in cases of Covid-19 in more than two weeks. Brent crude futures …
Read More »Gold Moving in a Limited Range as Focus Shifts to The US Fed
Gold trading recorded a limited range Wednesday, January 27, as traders in the market awaited the US Federal Reserve’s decision on monetary policy and developments related to a stimulus package to mitigate the repercussions of the Coronavirus in the largest economy in the world. This fell in spot gold transactions …
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