Gold prices jumped to achieve substantial gains after the markets opened yesterday, with a rising price gap placing gold prices above the 1838 resistance level, recording its highest level at $1865 per ounce. The technical vision today indicates the possibility of an increase, relying on the stability of trading above …
Read More »Euro trying to rise 10/10/2023
A quiet, gradual rise for the EUR/USD pair in light of the absence of US markets yesterday, trying to reduce its previous losses and begin attacking the psychological barrier resistance level of 1.0600. Technically, and with a closer look at the 4-hour time frame chart, we find that the EUR/USD …
Read More »Q4 Fundamental Outlook for Japanese Yen: Bearish Start, Potential for Year-End Revival
During the third quarter, the Japanese yen faced continued losses against the U.S. dollar, driven by the differing monetary approaches of the Bank of Japan and the Federal Reserve. The Federal Reserve, aiming to restore price stability, aggressively raised borrowing costs, leading to the highest benchmark rate since 2002 and …
Read More »Oil jumps more than $4 as markets are affected by violence in the Middle East
Oil prices rose more than three percent on Monday, as clashes between Israel and the Palestinian Islamic Resistance Movement (Hamas) raised fears of a broader conflict in the Middle East. By 1143 GMT, Brent crude rose $2.70, or 2.2 percent, to $87.28 per barrel, while US West Texas Intermediate crude …
Read More »OPEC raises its forecast for long-term oil demand
The Organization of the Petroleum Exporting Countries (OPEC) raised its forecast for global oil demand in the medium and long term in an annual forecast, saying $14 trillion in investments are needed to meet that demand even as the use of renewable fuels increases and more electric cars appear on …
Read More »Gold shines as investors hedge amid turmoil in the Middle East
Gold prices rose more than one per cent on Monday, as the outbreak of violent clashes between Israeli forces and the Palestinian Islamic Resistance Movement (Hamas) over the weekend increased the risk of a broader conflict in the Middle East and stimulated interest in investing in safe havens such as …
Read More »European stocks decline under pressure from the consequences of the conflict in the Middle East
Most European stock markets opened lower on Monday as the ongoing clashes in the Middle East led to a rush towards safe haven assets such as bonds and gold, and oil prices rose by more than three percent. The European STOXX 600 index fell 0.2 percent by 0710 GMT, with …
Read More »Dollar and yen rise after Hamas attack undermines morale
The safe-haven dollar and Japanese yen rose on Monday after violence in the Middle East spooked markets, while a strong US jobs report gave the greenback a bigger boost. The appetite for risk declined after Israeli forces clashed with gunmen from the Palestinian Hamas movement at the beginning of the …
Read More »Oil jumps more than $4 as markets are affected by violence in the Middle East
Oil prices jumped more than $4 a barrel in early Asian trading on Monday, as political uncertainty worsened across the Middle East following the outbreak of violent clashes between Israeli forces and Hamas over the weekend. The rise in oil prices came to reverse the downward trend last week, which …
Read More »US Nonfarm Payrolls rise in September
Nonfarm Payrolls (NFP) in the United States increased by 336,000 in September, according to the US Bureau of Labour Statistics (BLS) on Friday. This reading was significantly higher than the market forecast of 170,000. The 187,000 increase in August was also raised higher to 227,000. The unemployment rate stayed at …
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