Subdued Performance Overview:Gold faces downward pressure for the second consecutive week on Friday, as unexpected upticks in US consumer prices prompt traders to reassess their outlook on interest rate cuts. However, the precious metal sees a partial recovery following a decline in consumer spending. Gold Price Movement:Spot gold settled at …

Subdued Movement Overview:Oil prices displayed a mixed performance on Friday as market participants weighed expectations of slowing demand against hopes for potential interest rate cuts in the United States. Brent crude futures experienced a marginal decline, while US West Texas Intermediate crude futures saw marginal gains. Price Dynamics:Brent crude futures …

Subdued Performance Recap:The Canadian dollar witnessed a notable decline in the previous trading session, reversing the anticipated upward trajectory outlined in the technical report. This downturn was primarily influenced by the weakening of the US dollar following the release of retail data. Technical Analysis Insights:Despite the recent bearish sentiment, the …

japanese-yen

Support Holds Strong:The support level at 75.50, highlighted in the previous technical report, proved effective in halting the downward momentum of US crude oil futures prices. It is emphasized that the resumption of the downward trend hinges upon breaching this critical support level. Technical Analysis Insights:A closer examination of oil …

Gold’s Rebound Efforts:Gold prices showed signs of a temporary recovery in yesterday’s trading session, buoyed by a decline in the US dollar following the release of US retail data. The precious metal reached its highest level at $2008 per ounce, reflecting shifting market dynamics. Technical Analysis Insights:Examining the 4-hour time …

Positive Momentum in EUR/USD:The EUR/USD pair experienced an upward trend in the previous trading session, largely attributed to a slight decline in the US dollar index following the release of US retail data. This movement reflects shifting dynamics in currency markets as investors react to economic indicators. Technical Analysis Insights:On …

Oil, Crude, trading

IEA’s Revised Outlook:The International Energy Agency (IEA) announced on Thursday a downward revision in its forecast for global oil demand growth, indicating a loss of momentum in the sector. The agency anticipates a slower pace of growth, projecting an increase of 1.22 million barrels per day in 2024. This figure …

Inflation Data Boosts Sentiment:European stocks regained ground on Wednesday, buoyed by weaker-than-expected inflation data in Britain. This bolstered hopes that the Bank of England would implement interest rate cuts soon, providing a positive outlook for investors. Additionally, positive earnings reports from select companies contributed to the market’s upward momentum. STOXX …