Oil prices rose slightly in early Asian trading on Monday as fears of a recession in the United States began to recede, after causing prices to fall for three consecutive weeks for the first time since November. Brent crude futures rose 6 cents to $75.36 a barrel by 0022 GMT. …
Read More »Dow Jones and positivity need confirmation 8/5/2023
Oil, Crude, trading
Read More »CAD is waiting for a further decline 8/5/2023
The Canadian dollar declined significantly to incur significant losses, surpassing the bearish target published in the previous report at 1.3510. It is now settling around its lowest level during today’s morning session 1.3370. Technically, and with a closer look at the chart, we find that the simple moving averages returned …
Read More »GBP keeps climbing gradually 8/5/2023
Oil, Crude, trading
Read More »Oil makes up for its losses 8/5/2023
As we expected during the previous technical report, US crude oil futures prices recovered, touching the required target at 71.20, recording a high of $71.77 per barrel. Technically, we find that oil prices have returned to stability above the support floor of the psychological barrier of 70.00, in addition to …
Read More »Gold needs to be watched 8/5/2023
Gold prices gave up their recent gains last Friday to move away from the peak recently recorded at $2067, under pressure from the rise of the US dollar after the US jobs data, to record gold prices to their lowest level of $2016 per ounce. Technically, and by looking at …
Read More »Euro is trying to recover 8/5/2023
Mixed trading dominated the movements of the euro-dollar pair, within a downward sloping path, affected by the US data that appeared last Friday, recording its lowest level at 1.0970. From a technical point of view, today, we find the pair’s intraday trading has returned to stability above 1.1000, accompanied by …
Read More »Dollar is falling slightly ahead of the US jobs report
The dollar fell slightly against other major currencies on Friday, as problems in the banking sector increased expectations of a US interest rate cut later in the year, while eyes turned to an upcoming monthly US jobs report. The pound rose to the highest level in almost a year, the …
Read More »Russian ruble rises to the highest level in a month
The Russian ruble rose during trading today, to the highest level in more than a month, to continue its gains for the fifth consecutive session, as oil prices stabilized after the recent decline, which somewhat reduced the impact of the decrease in the supply of foreign currencies in Russia. The …
Read More »Gold drops before new economic data
Gold fell on Friday from near record highs as investors await more economic indicators, but it is still on track to post its best week in nearly two months as hopes of halting interest rate hikes in the United States and banking problems increased demand for a safe haven. And …
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