European stocks fell on Wednesday, weighing the defensive losses in front of optimism about encouraging quarterly results for consumer giants Nestlé and Ericsson for telecommunications equipment. The pan-European STOXX 600 index fell 0.3%, and the healthcare and real estate sectors fell more than 0.5% each. But stocks that are heavily …
Read More »Turkish Lira at Highest Level in Two Weeks Before The Central Bank’s Decision
The Turkish lira rose to stand at less than 7.85 against the dollar on Wednesday, the highest level since the seventh of October, as investors awaited the central bank meeting this week to set the interest rate. The currency has weakened in recent weeks due to geopolitical tensions, including the …
Read More »Japanese Stocks Rise on Optimism About US Stimulus
Japanese stocks rose at the close on Wednesday, due to optimism about the possibility of US lawmakers reaching an agreement on a stimulus package ahead of the presidential election, which boosted the world’s riskier assets. The Nikkei index rose 0.31% to close at 23,639.46 points, recouping some of the losses …
Read More »Gold Gained With Renewed Hopes of US Stimulus And Weakness of US Dollar
Gold rose on Wednesday, thanks to optimism about the possibility of US lawmakers reaching an agreement on an aid package for those affected by Corona before the presidential elections, which weakened the dollar and strengthened the lure of the yellow metal as a hedge against inflation. Gold rose in the …
Read More »API: Sudden Increase in Oil Inventories
Data from the American Petroleum Institute showed, Tuesday, that crude oil inventories in the United States recorded an unexpected increase last week, while gasoline and distillate inventories declined. Crude inventories increased 584 thousand barrels in the week ending October 16, to reach about 490.6 million barrels, while analysts’ expectations indicated …
Read More »Negativity Dominates German Dax
Negative trading is dominating the DAX, recording the lowest price at 12701. The technicals indicate the possibility of continuing the decline, with trading remaining below the previous broken support level 12880, and most important 12920, in addition to the index continuing to receive negative pressure from its simple moving averages. …
Read More »Dow Jones Faces Negative Pressures
Negative trading dominated the Dow Jones Industrial Average during the US session, recording its lowest price at 28045. Technically, we tend to be negative in intraday trading, depending on trading stability below the resistance level 28440 in addition to the clear negative signs on the RSI. Therefore, a bearish bias …
Read More »GBP/JPY: Positive Side needs Assurances
The pair of Pound against the Yen witnessed a positive slope within the bullish path, as we expected yesterday, and it begins to attack the psychological barrier of 137.00. Technically, we find that the 50-day moving average hold the price in addition to the pair building above the resistance-into-support around …
Read More »Canadian Dollar Continues to Extend Losses
The Canadian dollar managed to achieve the expected negative outlook for the daily trend, to touch the first target mentioned in the previous analysis at 1.3090. Technically, with the confirmation of the pair breaking the 1.3150 support floor, in addition to the continuing pressure coming from the 50-day moving average. …
Read More »Pound Faces Psychological Barrier
The technical outlook remains unchanged on the pair’s movements within attempts to obtain bullish momentum. Technically, and looking at the chart, we find that the pair failed to stabilize for a long time above the pivotal resistance of 1.3000, as the current trades witnessed stability below the aforementioned level, with …
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