In the wake of the preceding technical report, the Canadian dollar grappled with a prevailing downward trend, successfully reaching the initial target at 1.3470. Presently, trading activity hovers around its morning low, settling at 1.3450. Technical Analysis: Negative Momentum Signals Bearish Outlook Today’s technical analysis veers towards negativity, underscored by …

japanese-yen

Oil, Crude, trading

In the latest trading session, US crude oil futures contracts notched a significant milestone by hitting the initial target set at $74.00, culminating in a peak of $74.24 per barrel. Technical Analysis: Moving Averages and Relative Strength Index Signal Positivity A technical analysis reveals that simple moving averages are exerting …

In the recent trading session, gold prices exhibited a pattern of short-term sideways movement with a bullish bias, aligning with previous technical analyses that highlighted the significance of surpassing the $2040 threshold. Notably, gold reached its pinnacle at $2044 per ounce, signaling upward momentum. Technical Insights: Balancing Negative Pressure with …

Euro/Dollar Pair Navigates Quiet Trading Session with a Positive Bias In the previous trading session, the Euro/Dollar pair demonstrated a subdued yet favorable trajectory, aligning with the anticipated bullish momentum. Notably, the Euro commenced its advance towards the critical 1.0780 resistance level, indicating a potential breakthrough on the horizon. Establishing …

Gold prices remained relatively stable on Wednesday as traders awaited statements from US Federal Reserve officials, which could shed light on the trajectory of interest rates for the year ahead. Spot Market Performance There was minimal movement in spot gold prices, which hovered around $2,033.02 per ounce as of 1030 …

EIA Raises Forecast for Global Oil Demand Growth In a recent statement, the US Energy Administration (EIA) announced a revised forecast for global crude oil demand, indicating an increase in growth projections for both 2024 and 2025. According to the statement released on Tuesday, the EIA anticipates a growth of …

Flat Opening European stocks kicked off Wednesday’s trading session with little change, as declines in Deutsche Post offset gains made by companies reporting positive earnings data. The STOXX 600 index hovered around 486.57 points by 0826 GMT. Upbeat Earnings from TeamViewer TeamViewer shares surged by 10.9 percent, claiming the top …

German Industrial Production Contracts, Exceeding Expectations December Figures Disappoint Data released by the German Statistics Office (Destat) on Wednesday revealed a sharper-than-expected contraction in industrial production for the month of December, marking the eighth consecutive decline for the largest economy in the euro zone. Monthly Contraction Germany witnessed a notable …