On Thursday, the dollar navigates within a tight range as traders assess the implications of less dovish remarks from Federal Reserve policymakers and await fresh economic indicators from the United States. Attention is also drawn to inflation data from China, the world’s second-largest economy. Fed Policy Evaluation and Outlook Overnight, …
Read More »China’s Consumer Prices Continue Decline in January
Consumer prices in China persisted in their downward trajectory for the fourth consecutive month in January, highlighting the hurdles facing the world’s second-largest economy in its quest for robust recovery. Consumer Price Index Data: Decline Year-on-Year, Modest Uptick Monthly Data released by the National Bureau of Statistics on Thursday revealed …
Read More »Gold Prices Stabilize Amidst Mixed Market Sentiment
Gold prices found stability on Thursday amidst a backdrop of nuanced market dynamics, influenced by statements from Federal Reserve officials tempering expectations of imminent interest rate cuts. Additionally, geopolitical tensions escalated following Israel’s rejection of a ceasefire proposal from Hamas, adding to the complex market landscape. Market Performance: Gold Settles …
Read More »CAD continues to decline 8/2/2024
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 …
Read More »USD/JPY below resistance 8/2/2024
japanese-yen
Read More »GBP/USD Building on support 8/2/2024
Oil, Crude, trading
Read More »Oil touches the first target 8/2/2024
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 …
Read More »Gold maintains the same technical conditions 8/2/2024
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 …
Read More »Euro continues to recover 8/2/2024
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 …
Read More »Gold Prices Hold Steady Amidst Fed Speculations
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 …
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