Oil prices stabilized on Thursday, maintaining the gains achieved on Wednesday fueled by optimistic Chinese trade data and a smaller-than-expected increase in US crude inventories alongside a significant drawdown in fuel inventories. However, the market was tempered by expectations of delayed interest rate cuts in the United States, limiting the …

The Canadian dollar pair encountered significant resistance at the psychological barrier level, failing to breach it and subsequently experiencing negative pressure, leading to a downward movement to retest 1.3500. Today’s technical analysis suggests a bearish outlook, with emphasis on the intraday stability below the 1.3570 resistance level. Additionally, negative indications …

japanese-yen

Oil, Crude, trading

As anticipation mounts ahead of the European Central Bank’s interest rate decision scheduled for tomorrow, Thursday, analysts widely anticipate a status quo stance, with the bank likely to maintain interest rates unchanged at 4.50%. With this expectation in mind, market attention is poised to shift towards the bank’s economic forecast …

During the previous trading session, US crude oil futures prices experienced significant gains as they breached the 78.50 level, advancing towards the upward target of 80.30, reaching a peak of $80.65 per barrel. Technically, we maintain a bullish stance, albeit cautiously, relying on the stability of oil prices above the …

Gold prices have continued their remarkable ascent, defying our earlier anticipation of a bearish trend. In our previous report, we emphasized the significance of trading below the historical resistance level of 2144. However, with the price surging beyond this historical peak, reaching $2161 per ounce at the opening of today’s …

In our previous technical report, we maintained a neutral stance due to conflicting technical signals. We highlighted that the potential for an upward trend hinged on the confirmation of the EUR/USD pair surpassing the resistance level of 1.0860. Such confirmation would likely bolster the pair’s momentum towards 1.0930, with the …

Private sector employment in the US increased by 140,000 in February, according to the Automatic Data Processing (ADP) report released on Wednesday. This figure represented a rise from the revised January number of 111,000 (previously reported as 107,000), but fell short of market expectations, which had anticipated a gain of …

In early trading on Wednesday, European stocks stabilized, with positive gains offsetting losses, ahead of the release of key economic data for the euro zone and Federal Reserve Chairman Jerome Powell’s testimony before Congress. The European STOXX 600 index remained steady at 0809 GMT, showing signs of stability. The basic …