The technical outlook remains unchanged and pair remains little changed in negative territory. Technically, we find that the pair is stable around the support level of 1.3120, with the simple moving averages continuing their negative pressure on prices, in addition to some features of a bearish technical pattern on the …
Read More »Pound Struggling With Selling Pressure
The pound failed to achieve long-term stability above 1.3000 against the US dollar, retreating significantly. Note that we mentioned in previous analysis that stability of trading below 1.3000 is an important and essential condition to activate the suggested scenario and trading below it negate the bullish attempts and we may …
Read More »Oil Renew Chances to Gain
Oil, Crude, trading
Read More »Gold Breaks Support Level After Intense Selling
Gold prices were subjected to intense selling during the previous session within the expected bearish, in which we relied on the stability of intraday trading below 1925 in general below 1935, indicating that we are waiting for a bearish correction targeting 1890 and 1895 to post low of 1822 in …
Read More »Euro is Hovering Around Support, Awaiting New Signals
The European currency fell yesterday to halt the positive outlook, in which we depended on the pair’s stability above 1.1770, and to remind us that we indicated in the previous report that trading below 1.1770 will negate the bullish trend, and we are witnessing a re-test of 1.1720, recording the …
Read More »US Consumer Prices Slowed in September For The Fourth Consecutive Month
Consumer prices in the United States rose in September for the fourth month in a row but at a slower pace amid noticeable weakness in the economy as it gradually recovered from recession due to the Covid-19 pandemic. The US Labor Department said on Tuesday that its consumer price index …
Read More »IMF Forecasts 2020 Global Economic Contraction at 4.4%
In its latest World Economic Outlook report, the International Monetary Fund noted that it forecasts the global economy to contract by 4.4% in June, compared to 5.2% contraction in June’s publication, as reported by Reuters. “IMF forecasts 2021 global growth at 5.2% vs 5.4% in June, forecasts use revised purchasing …
Read More »Monthly OPEC Report: Reducing Growth Forecast by 200,000
The OPEC monthly report showed that the global economic growth forecast was kept at -4.1%, while the global economic growth forecast was reduced to 4.6% in 2021. The report expected a decline in global demand for oil by 9.5 million barrels per day in 2020, while the report reduced demand …
Read More »China’s Auto Sales Post a Jump in September
Car sales in China recorded growth for the sixth consecutive month in September, increasing by 12.8% as the world’s largest car market recovered from low levels recorded in light of the isolation measures related to the Corona virus. September and October are usually considered a peak sales period in the …
Read More »Unemployment in Britain Rises at 4.5% in October
The unemployment rate in the United Kingdom witness an increase in October by more than analysts’ expectations, and data issued by the British National Statistics Office on Tuesday showed that the unemployment rate came at 4.5% during the month of October, compared with 1.4% the previous month’s reading. Analysts had …
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