US crude oil futures prices incurred large losses, invalidating the positive outlook of the previous report, in which we relied on trading stability above 71.55 when the report was issued. As a reminder, we indicated that the closing of the 4-hour candle below 71.50, and most importantly 71.20, invalidates the …
Read More »Gold is touching the official target of the bearish wave 23/6/2023
Gold prices declined significantly during the previous session’s trading to achieve the official target for the current downward wave, as we expected at 1913, recording its lowest level during the morning trading of today’s session at $1910 per ounce. From the point of view of technical analysis today, and by …
Read More »Euro temporarily fails to breach the psychological barrier 23/6/2023
Mixed trading dominated the movements of the euro-dollar pair during the previous session’s trading, as the pair failed to stabilize for a long time above the psychological barrier of 1.1000, forcing it to retreat to retest the support level currently hovering around it at 1.0940. On the technical side today, …
Read More »Türkiye raises the interest rate by 650 basis points to 15%
Turkey’s central bank raised its base interest rate by 650 basis points to 15 percent on Thursday, reversing President Recep Tayyip Erdogan’s policy of cutting interest rates, but the move towards post-election tightening still fell short of expectations. In its first meeting after the appointment of Hafiza Ghaya Arkan as …
Read More »Bank of England hikes rates to 5% in a surprise move to tackle stubborn inflation
The Bank of England hiked interest rates by a half-point more than predicted on Thursday, citing “significant” data indicating that British inflation will take longer to decline. The Bank of England’s Monetary Policy Committee (MPC) voted 7-2 to raise its main interest rate to 5% from 4.5%, the highest since …
Read More »The Kremlin: Putin and the Prime Minister of Qatar will discuss in Moscow maintaining fair energy prices
The Kremlin said Russian President Vladimir Putin and Qatari Prime Minister Mohammed bin Abdulrahman al-Thani will discuss maintaining fair prices in global energy markets when they meet on Thursday in Moscow at 1100 GMT.
Read More »European stocks open lower on interest rate hike fears
European stocks opened lower on Thursday on fears of continued monetary tightening, and with the London Stock Exchange slipping amid uncertainty over the extent to which the Bank of England will raise interest rates later in the day. And by 0716 GMT, the European Stoxx 600 index fell 1.2 percent, …
Read More »USD declines after the testimony, GBP goes up
On Thursday, the dollar approached its lowest level in a month against a basket of currencies, after Jerome Powell, Chairman of the Federal Reserve, stuck to his usual messages in his semi-annual testimony, which did not include any surprises. Sterling rose to near a one-year high ahead of the Bank …
Read More »Oil stabilizes after a sudden drop in US crude inventories
Oil prices maintained most of the gains achieved on Wednesday in early trading on Thursday, while markets assessed a sudden drop in US crude stocks against the possibility of weak demand after the Federal Reserve Chairman hinted at the possibility of further interest rate hikes. And by 0015 GMT, Brent …
Read More »Dow Jones is under negative pressure 22/6/2023
Oil, Crude, trading
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