We remained neutral during the last report, explaining that we are waiting for the pair to break free from the sideways price range confined between 1.0500 and 1.0600. The EUR/USD pair concluded last week’s trading on a positive note and began attacking the resistance of the psychological barrier 1.0600, recording …
Read More »Oil is on its way to rising for the second week against the backdrop of the conflict in Gaza
Oil prices rose on Friday by more than a dollar, on track to achieve gains for a second week amid growing fears that the conflict between Israel and Gaza could spread to the Middle East and thus disrupt supplies from one of the largest crude production regions in the world. …
Read More »Dollar touches the 150 level against Yen with a boost from Powell’s statements and Treasuries
On Friday, the dollar briefly touched the 150 level against the closely watched yen, supported by a rise in US 10-year Treasury bond yields towards 5 percent after Federal Reserve Chairman Jerome Powell indicated that there was room to implement further interest rate hikes. The yield on ten-year US Treasury …
Read More »Russia: OPEC+ helps stabilize oil markets
Russia said on Friday that the OPEC+ group of major oil producers helped stabilize oil markets and resisted external pressure, despite “Western manipulation” in the form of a price ceiling for Russian oil. Foreign Ministry spokesman Alexei Zaitsev stated in a weekly press briefing that Russia is a responsible supplier …
Read More »European stocks are heading for a sharp weekly loss due to Middle East tensions
European stocks fell on Friday and were on track for their biggest weekly loss in three months, as growing concerns about a broader conflict in the Middle East, rising government bond yields and disappointing corporate earnings reports pushed investors off risk. By 7:06 GMT, the European STOXX 600 index fell …
Read More »Oil prices rose by more than 1% and are heading for the second weekly gain in a row
Oil prices rose by more than 1% during Friday’s trading session and are heading towards the second consecutive weekly gain in light of the continuing conflict in the Middle East. In terms of trading, Brent crude futures rose by about 1% to $93.33 per barrel. US crude contracts also rose …
Read More »Gold is at a 3-month peak due to the conflict in the Middle East
Gold prices rose to their highest levels in three months on Friday and were on track for a second straight weekly gain on rising demand boosted by conflict in the Middle East and expectations that interest rate hikes by the Federal Reserve are nearing an end. By 0332 GMT, gold …
Read More »USD maintains its gains ahead of FED Chairman’s statements
The dollar maintained its gains against rival currencies on Thursday ahead of comments by Federal Reserve Chairman Jerome Powell as expectations grew that the bank would keep interest rates high for longer. The US currency pushed the yen to hover around its lowest levels in two weeks, which it recorded …
Read More »European stocks decline with risk aversion due to poor corporate results
European stocks fell about 1 percent on Thursday as risk aversion was exacerbated by poor results for companies, including food company Nestlé, as a result of tensions caused by the war in the Middle East and uncertainty over interest rates. By 0705 GMT, the European STOXX 600 index fell 0.8 …
Read More »Japan’s Nikkei closes lower due to expectations of monetary tightening and Middle East conflict
Japan’s Nikkei index closed down about 2 percent on Thursday, tracking a wave of profit-taking stock selling on Wall Street after strong US economic data reinforced bets on monetary tightening by the Federal Reserve, while tensions in the Middle East also increased risk aversion. Chip-related stocks underperformed noticeably after traders …
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