Oil prices retreated, to fall at the end of a week in which it made big gains due to the risk of a possible decrease in supplies from Norway by up to 25% due to a strike by workers in the sector. Before the opening of European markets, Brent crude …
Read More »Gold Rises 1% on The Decline of Dollar And Hopes of a US Stimulus
Gold prices rose 1% due to the weak dollar and heading towards achieving the second consecutive weekly gain, as the attractiveness of the yellow metal increased as a hedge against inflation due to renewed optimism about a new US aid package to mitigate the repercussions of the Corona virus. Spot …
Read More »US Congress Expects the Budget Deficit to Reach $ 3.1 Trillion in 2020
The Congressional Budget Office said during the monthly forecast report that estimates of the budget deficit in the fiscal year 2020 and ended last September indicate $ 3.131 trillion, compared to the deficit of $ 984 billion in 2019. Despite this rise, this deficit is about $ 180 billion less …
Read More »The British Economy Grew by 2.1% in August, But Below Expectations
The UK economy grew by 2.1% in August M-o-M, as the country’s gradual recovery from the coronavirus crisis continued, albeit at a slightly slower pace. Estimated growth in UK gross domestic product for the month of August was below expectations, with economists in a Reuters poll forecasting 4.6% monthly growth. …
Read More »Dax Adds More Points And Continues to be Positive
The German DAX managed to maintain its positive stability, posting a session high at 13085 in early tradings. Technically, we tend to positive, depending on the breach of 12940, which turned into support, with the positive motive of the 50-day moving average, which continues to hold the price. We will …
Read More »Dow Jones Maintains Its Bullish Path
Positive trading dominated the Dow Jones Industrial Average, to record its highest level at 28485. Technically, we see that the index closed its trading above the support level of 28200 with the positive motive of the 50-day moving average in conjunction with positive signs from the RSI. As long as …
Read More »GBP/JPY Facing Interim Negativity
The pound’s movements against its Japanese counterpart are witnessing a bearish bias after meeting a strong resistance level of 137.40. Technically, and looking at the 60-minute chart, we tend towards the negativity depending on the clear negative features on Stochastic, which gradually started losing the bullish momentum. The bearish bias …
Read More »Canadian Dollar Continues to Crawl Negative
The Canadian dollar continues to crawl negatively to the downside within the expected bearish path, touching the first target required at 1.3190, to record its lowest level during early trading in the Asian session at 1.3180? Technically, the pair needs to confirm the breach of the support-turned-resistance 1.3240, in addition …
Read More »British Pound Stable Above Support
The British Pound traded on the positive side against the US dollar after attempts to establish a support near 1.2900. Technically, we find that the pair succeeded in building a base on 1.289 / 1.2900, accompanied by the positive signs of the MA 50, which adds more strength. We see …
Read More »Oil Bullish Bias After Breaching The Resistance
Oil, Crude, trading
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