Following a surprise 25 basis point (bps) rate hike in May, the Reserve Bank of Australia (RBA) board members opted to raise the Official Cash Rate (OCR) by another 25 basis points (bps) to 4.10% at its June policy meeting, delivering another hawkish surprise. According to the most recent Reuters …
Read More »Dow Jones is making significant gains 12/6/2023
Oil, Crude, trading
Read More »CAD: Negativity remains 12/6/2023
Positive movements dominated the trading of the British pound against the US dollar within the expected bullish context by last week’s trading, touching the first target 1.2595, recording its highest level at 1.2593. On the technical side today, and by looking at the 4-hour chart, we find that the simple …
Read More »GBP consolidates against the dollar 12/6/2023
Oil, Crude, trading
Read More »Oil continues to bleed losses 12/6/2023
US crude oil futures prices continue to incur losses within the bearish technical outlook, as we expected, touching the first target at 70.00, and approaching by a few points from the official station at 69.00, recording its lowest level during the early trading of the current session, at $69.33 per …
Read More »Gold is still in a sideways, await pending orders 12/6/2023
The technical outlook is unchanged and for several consecutive sessions, we waited for the pending orders to be activated due to the sideways movements that dominated gold prices from below 1945 and from above below 1977. From the point of view of technical analysis, gold prices witnessed positive attempts, but …
Read More »Euro is trying to stabilize above the support 12/6/2023
. After several successive sessions of the sideways trend dominating the movements of the euro-dollar pair, it managed, at the end of last week’s trading, to achieve a first breach of the resistance level of 1.0740, recording its highest level at 1.0785, to return within a bearish slope once again. …
Read More »Canada’s Job Market Unexpectedly Shrinks in May, Unemployment Rate Rises to 5.2%
Canada’s economy unexpectedly lost 17,300 jobs in May, following a gain of 41,400 in April, according to data released by Statistics Canada on Friday. The net change in employment missed the market expectation of a gain of 23,200 jobs for May. As a result, Canada’s unemployment rate rose to 5.2% …
Read More »US Dollar set for worst weekly performance since March despite modest recovery
During early European trading on Friday, the US dollar rebounded from sharp losses in the previous session, as traders sought safe-haven assets following weak Chinese inflation data. Despite showing resilience against its major currency counterparts, the currency’s gains were presently limited, with modest daily gains near 103.50 after suffering its …
Read More »Concerns about demand cap oil’s gains
Oil prices rose on Friday and were broadly stable for the week as Saudi Arabia’s pledge to cut production helped calm concerns about demand growth. And by 0932 GMT, Brent crude futures rose 36 cents, or 0.5 percent, to $ 76.32 a barrel, and West Texas Intermediate crude rose 34 …
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