Oil, Crude, trading

The prices of US crude oil futures contracts declined significantly by the end of last week’s trading within the bearish directional movement, as we expected, touching the official target station at the price of 67.20, recording its lowest level at $66.86 per barrel. Technically, the bearish trend during today’s session …

Gold prices collided with the psychological resistance level of $2000, which forced gold to trade within a bearish slope that aimed to retest the key to protect the bullish trend of 1960 from ending its weekly trading above the mentioned level. Technically, the overall bullish direction is still the most …

Mixed trades tended to be negative, dominating the movements of the euro-dollar pair within the attempts to recover the euro against the US dollar, recording its highest level at 1.0840, heading towards a decline quickly to activate the bearish scenario, explaining that the decline below 1.0785 is capable of postponing …

On Friday, banks-related anxiety caused the euro and pound to plunge against a rising dollar, as better-than-expected economic data failed to improve the mood. European banking stocks dropped on concerns that the largest issues to hit the industry since the 2008 financial crisis have not yet been resolved, with giants …

The US Census Bureau said on Friday that orders for durable goods in the US fell by 1%, or $2.6 billion, in February to $268.4 billion. This estimate was less than the market consensus for a growth of 0.6% and follows January’s loss of 5% (updated from -4.5%). “Excluding transportation, …

An industry poll released on Friday revealed that British businesses reported a second month of growth in March, indicating that the country’s GDP grew in the first quarter of 2023. The S&P Global/CIPS UK Composite Purchasing Managers’ Index (PMI), which includes both manufacturing and service businesses, reported a “flash” reading …

Banking stocks fell again on Friday after a turbulent week as investors worried that the worst problems in the sector since the 2008 financial crisis had yet to be contained. The index of major European banks fell 2.2 percent in early trading, with Swiss bank UBS down 6.4 percent. Deutsche …

According to S&P Global Research’s most recent manufacturing activity survey, which was released on Friday, the manufacturing sector declined in the Eurozone widened in March. The Eurozone Manufacturing Purchasing Managers Index (PMI) was 47.1 in March compared to the anticipated 49.0 and the previous reading of 48.5. A four-month low …

The dollar settled near its lowest level in seven weeks on Friday, as concern about banks kept investors cautious and dealers assessed the possibility that the Federal Reserve (the US central bank) would stop raising interest rates. The dollar index, which measures the performance of the US currency against six …