US crude oil futures prices continue to form an upward attack within the expected bullish context at the end of last week’s trading, exceeding the required target of 85.30, recording its highest level of $86.10 per barrel. Technically, oil prices continue to receive a positive stimulus from the simple moving …
Read More »Gold is facing strong resistance /9/2023
Gold prices declined yesterday after it collided with the strong resistance level at 1945, which forced it to trade negatively, and it will now settle around its lowest level during early trading of the current session around $1936 per ounce. Technically, and with a closer look at the 4-hour time …
Read More »Euro continues to creep negative 5/9/2023
Quiet negative trading dominated the movements of the EUR/USD pair amid the holiday in the American markets at the beginning of this week’s trading, with the euro maintaining negative stability against the US dollar, recording its lowest level at 1.0771. Technically, by looking at the 4-hour time frame chart, we …
Read More »Oil holds breath ahead of OPEC+ supply cut expectations
Oil prices remained constant on Monday, with predictions that major producers would keep supply tight, as hopes grew for the Federal Reserve to keep interest rates unchanged in order to keep the US economy from slowing. By 1110 GMT, Brent crude futures had risen 5 cents to $88.60 per barrel. …
Read More »Inflation in Türkiye reached 58.9% in August
Official data showed on Monday, September 4, that annual consumer price inflation in Turkey rose to 58.94% in August, exceeding expectations and rising for the second month in a row as a result of the decline in the lira and the recent increase in taxes. The consumer price inflation rate …
Read More »European stocks rose on optimism about the Chinese economy
European stocks rose on Monday, boosted by positive sentiment in Asian markets, amid investor optimism that a series of stimulus measures announced by China will help its slowing economy, and Novo Nordisk shares reached a new record high. The European STOXX 600 index rose 0.6 percent by 0720 GMT, after …
Read More »Dollar declines amid expectations that interest rates will not be raised in US
The dollar fell in cautious trading on Monday, as investors evaluated US jobs data, which included signs of a slowdown, reinforcing expectations that the Federal Reserve has likely reached the end of its monetary tightening cycle. The dollar index, which measures the US currency against a basket of currencies, fell …
Read More »Oil rises amid expectations of OPEC+ supply cuts
Oil prices rose on Monday, supported by expectations that major producers will maintain the restrictions they impose on supplies, as well as growing hopes that the Federal Reserve (the US central bank) will leave interest rates unchanged to avoid an economic slowdown. Brent crude futures for November delivery rose three …
Read More »Asia shares bounce as China mood turns less bleak
Asian stocks rose on Monday as investors bet the Federal Reserve would stop rising interest rates in the United States, and on optimism that Beijing’s continuous drip of economic stimulus would be enough to at least stabilise the Chinese economy. Due to a holiday in the United States, trading was …
Read More »Financial Markets’ Weekly Recap, Aug 28-Sep 1
On Friday, the dollar rose versus the euro and the Japanese yen after the August jobs report revealed a still-strong labour market, despite some signs of slippage. Employers added 187,000 jobs in August, exceeding predictions of 170,000. However, data for July was revised downward to reflect 157,000 employment gains rather …
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