Oil, Crude, trading
Read More »CAD continues to achieve bullish goals 25/8/2023
The technical outlook remains unchanged, as the Canadian dollar maintains the expected bullish path during the previous report, touching our first target of 1.3575, recording its highest level at 1.3600. Technically, by looking at the 4-hour chart, we find that the pair is still stable above 1.3540, and in general, …
Read More »JPY based on support 25/8/2023
japanese-yen
Read More »GBP is selling heavily 25/8/2023
Oil, Crude, trading
Read More »Oil is under negative pressure 25/8/2023
Mixed trading dominated the prices of US crude oil futures contracts yesterday, touching the official bearish target to be achieved at 77.60, recording its lowest level at $77.65 per barrel. Technically, and looking at the 4-hour chart, prices tried to take advantage of the mentioned support level represented by the …
Read More »Gold needs a stronger signal 25/8/2023
Limited positive attempts dominated gold’s movements during the previous trading session. Still, it collided with the minor resistance level at 1922, which forced it to trade negatively to the downside. Technically, by looking at the 4-hour chart, the 50-day simple moving average still holds the price from below, supporting the …
Read More »Euro continues to break lows 25/8/2023
The bearish trend continues to control the movements of the Euro-dollar pair within the expected negative technical outlook during the previous technical report, touching the first official stop at 1.0800, heading to visit the official target required for the current descending wave at 1.0775, recording the lowest trading at 1.0777 …
Read More »Fed chair could lay the groundwork for a new era of higher interest rates
President Jerome Powell is expected to deliver new monetary policy cues later this week, but while many aren’t expecting the Fed chief’s remarks to be laced with the ‘pain’ warning from last year, there are concerns that he may raise the prospect of higher longer-term interest rates. According to Goldman …
Read More »US jobless claims fall as labor market remains tight
The number of Americans filing new unemployment claims declined last week, indicating that labour market conditions remained tight despite the Federal Reserve’s aggressive rate hikes. The Labour Department said on Thursday that initial claims for state unemployment benefits fell by 10,000 to a seasonally adjusted 230,000 for the week ending …
Read More »The Turkish Central Bank raises interest by 750 basis points
The Central Bank of Turkey raised the main interest rate “repo” by 750 basis points to 25%, which shocked the markets that were priced at a hike of only 250 basis points, which pushed borrowing costs to their highest levels since January 2004. The central bank’s decision to raise interest …
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