Introduction: Yen’s Downward Spiral This week witnessed a continued decline in the value of the yen against key currencies such as the euro, pound sterling, and the US dollar. Investors, eager for better returns outside Japan’s near-zero interest rate environment, drove the yen to new lows, marking its fourth consecutive …

Oil Market Reacts to Federal Reserve Commentary Oil prices retreated on Friday following remarks from a Federal Reserve official suggesting a delay in interest rate cuts for at least two additional months. The market responded swiftly to the news, recalibrating expectations amidst evolving monetary policy dynamics. Market Movements: Tracking Brent …

Gold prices surged on Friday, poised to clinch their first weekly gain in three weeks. A confluence of factors, including a weakened dollar and escalating tensions in the Middle East, fueled investor appetite for the precious metal. Market Dynamics: Tracking the Numbers At 0411 GMT, gold prices in spot transactions …

Negative trading prevailed in the movements of the Canadian dollar during the previous trading session, aligning with the anticipated negative outlook. The pair touched the first target at 1.3465 and came close, within a few points, to reaching the second target at 1.3420, marking its lowest point at 1.3440. From …

japanese-yen

Oil, Crude, trading

The US crude oil futures contracts have continued their upward trajectory, in line with the bullish forecast outlined in the previous technical report, reaching the initial target at $78.60 and peaking at $78.88 per barrel. From a technical standpoint, the prevailing sentiment remains positive, supported by the ongoing influence of …

Gold prices have reached the initial technical target at $2035 per ounce, marking its highest level in the previous trading session. Upon examining the 4-hour timeframe chart from a technical perspective, it’s observed that the $2035 level has acted as a barrier to further upward movement in gold prices. However, …

The EUR/USD pair has successfully reached the initial target outlined in our previous technical analysis, hitting 1.0860 and peaking at 1.0888. Upon examining the 4-hour chart, it’s evident that the level of 1.0860 is exerting downward pressure on the pair, prompting a potential retest of the psychological support barrier at …

Key Highlights: Oil prices edge up with Brent crude and WTI futures seeing modest gains.Weakened dollar and Yemen ship attack contribute to price increase.Brent crude reaches $83.38 per barrel, while WTI climbs to $78.28 per barrel.Attack on ship off Yemen’s coast adds geopolitical tension to market sentiment.Increase in US crude …