Gold prices managed to touch the target during the previous trading session within the scenario of re-testing the required level, visiting 1901, posting a low of 1894. Technically, looking at the 4-hour chart, we find conflicting technical signals, ranging from the negativity of the simple moving averages that continue to …
Read More »Euro Looking For New Signals
The Euro started the current session with a slight bullish bias, as part of attempts to establish a support floor near the psychological barrier of 1.1800. Technically, looking at the 240-minute chart, we find that the 50-day moving average has returned to hold the price, with stability above the mentioned …
Read More »OPEC’s Barkindo: Economic And Oil Demand Recovery Remain Anemic
The Secretary-General of OPEC said today, Monday, that OPEC+ producers do not expect oil prices to collapse again, as happened in Q2, adding that members of the alliance “will not change course” in terms of rebalancing the market. “The economic and oil demand recovery remain anemic,” the Organization of Petroleum …
Read More »Oil Drops More Than 2% on Increased Coronavirus Cases
Oil fell more than 2% on Monday, extending last week’s losses in light of the growing cases of Covid-19 disease in the United States and Europe, which raises concerns about the demand for crude, especially in light of the chances of increases in supply. Brent crude was down $ 1.25, …
Read More »Japanese Stocks Closed Lower on Caution Over Corporate Results
Japanese stocks fell on Monday, as investors exercised caution ahead of a series of reports of company results, while sentiment was negatively affected by the growing cases of Coronavirus around the world. The benchmark Nikkei index fell 0.09% to 23,494.34 points, while the broader TOPIX index fell 0.39% to 1618.98 …
Read More »Dollar Rising Against Riskier Currencies as Hopes For US Stimulus Fade
The dollar rose on Monday, as Traders proceeded to be cautious due to the increasing cases of Coronavirus in Europe and the United States, as well as the lack of progress in the US economic stimulus package. US House of Representatives Speaker Nancy Pelosi said on Sunday that she expected …
Read More »Turkish Lira in All-Time Low
The Turkish lira fell against the US dollar below the 8 for the first time, with doubts surrounding the efforts of the Turkish Central Bank to support the Turkish currency with the escalation of geopolitical tensions. The Turkish lira fell 1.2% to $ 8.0088 on Monday, the largest decline compared …
Read More »German IFO Business Climate Index Misses Estimates
The headline German IFO Business Climate Index came in at 92.7 in October, weaker than last month’s 93.2 while missing the consensus estimates pointing to a reading of 93.0. On the other hand, the IFO Expectations Index – indicating firms’ projections for the next six months, came in at 95.0 for …
Read More »Italy Records More Than 21,000 New Cases of Coronavirus, Largest Daily Jump
Data released by the Ministry of Health in Italy on Sunday, October 25, showed a new record in the number of new cases of Coronavirus in one day, as it detected 21,273 cases and 128 deaths, while the government tightened restrictions further in an attempt to contain the expanding outbreak. …
Read More »Gold Dropping on USD Strength And Doubts About US Stimulus
Gold fell below the psychologically critical $ 1900 level on Monday to record the lowest price in more than a week, on US Dollar strenth and the lack of progress in talks on a new US stimulus package. Gold spot fell 0.2%to $ 1897.35 an ounce by 0711 GMT, after …
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