The pair opened its weekly trading with a bullish bias towards the first target expected to be achieved last Friday, 1.1825, to hit its highest level during early trading for the current session at 1.1854. Technically, looking at the 4-hour chart, we find the 50-day moving averages support a bullish …
Read More »Weekly Recap 9-13 Nov
The second week of November saw two major highlights. First, it was over the past weekend that it became clear that the Democratic nominee and Former Vice President Joe Bides will be the next President of the United States after winning the elections. A projected win in the state of …
Read More »OPEC+ Compliance With Oil Production Cuts in October at 101%
Two OPEC + sources told Reuters on Friday that the producer group’s compliance with the October oil production cuts is expected to reach 101 percent.
Read More »Fed’s Williams: We Are Still in an Extraordinary Situation With COVID
Regarding the fiscal policy and additional stimulus, New York Federal Reserve President John Williams noted that they are still in an extraordinary situation with the coronavirus outbreak, as reported by Reuters. “Fed’s inflation target will call for inflation going modestly above 2% for some period of time.”“Climate change is a …
Read More »The G20 ِAgrees on a Framework For Structuring Debt in The Future
The Group of Twenty (G20) finance ministers agreed for the first time on Friday on a new joint framework for restructuring government debt in anticipation that the coronavirus crisis could lead some poor countries to need significant debt forgiveness. Large creditors, including China, are expected to follow common guidelines that …
Read More »Germany’s Economy Takes a Hit From Lockdown Measures in November
The German economy ministry said on Friday that the country’s economic recovery has continued until October but has slowed since August, adding that lockdown measures put in place to slow the spread of the Coronavirus hurt the economy in November. But the ministry said it did not look like the …
Read More »US Dollar Falling as Vaccine Optimism Recedes and Yen Towards Worst Week Since March
The dollar fell on Friday and risk appetite dwindled in currency markets, as concerns about the economic consequences of the spike in COVID-19 cases in Europe and the United States dampened initial enthusiasm about a possible vaccine. Global markets rose on Monday after Pfizer said its experimental vaccine was more …
Read More »Eurozone Preliminary GDP Arrives at 12.6% QoQ in Q3
The Eurozone economy saw a rebound of 12.6% on quarter in the three months to September of 2020, missing +12.7% expected. Data released by the European Statistics Office (Eurostat) revealed on Friday. On an annualized basis, the bloc’s GDP dropped by 4.4% in Q3 vs. -4.3% seen in the previous reading while …
Read More »European Stocks Take a Hit After a Weekly Rally
The benchmark index of European stocks fell today, Friday, heading towards the weekly decline, as the increase in cases of coronavirus cases exacerbated fears of damage to the continent’s economy in the coming winter months. The pan-European STOXX 600 index fell 0.3%, after jumping earlier in the week thanks to …
Read More »Oil Easing on Covid-19 Cases But Heading For a Weekly Gain
Oil prices plummeted on Friday, as they are under pressure due to concerns about a slowing global economic recovery and fuel demand due to an increase in COVID-19 cases, but the market remains on track to make gains for the second week in a row, supported by hopes for a …
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