The dollar struggled to rally on Thursday even though policymakers at the US Federal Reserve reaffirmed their commitment to fighting inflation, while the Australian dollar jumped after China eased restrictions on coal imports from Australia. The minutes of the Federal Reserve’s December monetary policy meeting, released last night, showed that …
Read More »Gold retreats as caution prevails ahead of the release of US jobs data
Gold prices retreated on Thursday from their highest level in nearly seven months as the dollar strengthened and investors shied ahead of closely watched US jobs data, which could affect the path of the Federal Reserve’s interest rate hike. Spot gold fell 0.3 percent to $1,848.59 an ounce by 0924 …
Read More »Nikkei closed higher but monetary policy concerns limited gains
Japan’s Nikkei index recovered on Thursday from its lowest level in three months as shares of chip-related companies rose, tracking their US counterparts, but expectations of the world’s major central banks continuing to pursue monetary tightening limited gains. The Nikkei ended the session up by 0.4 percent, recording 25,820.80 points, …
Read More »Dow Jones is trying to maintain positive stability 5/1/2023
Oil, Crude, trading
Read More »CAD returns to the downside path 5/1/2023
The Canadian dollar failed to surpass the pivotal resistance level published in the previous report at 1.3.680, explaining that it represents the key to protecting the bearish trend, which forced it to trade with noticeable negativity to break the support level of the psychological barrier of 1.3600, heading to visit …
Read More »GBP: Facing strong resistance 5/1/2023
Oil, Crude, trading
Read More »Oil touches targets and the negativity remains 5/1/2023
As we expected during the previous technical report, big losses were incurred by the prices of US crude oil futures contracts, touching the official target to be achieved at 73.40, recording its lowest trading for yesterday’s session at 72.80. Technically, with the continuation of the negative pressure coming from the …
Read More »Gold continues to advance and may reach new highs 5/1/2023
Gold’s movements showed an upward trend within the expected technical path in the previous report, touching the first official target station at the price of 1865, recording its highest level at 1865. Technically, the daily trend is still bullish, with the simple moving averages continuing to provide a positive impulse, …
Read More »Euro is waiting for a new directional signal 5/1/2023
We adhered to our intraday neutrality during the previous report, due to conflicting technical signals, to find the EUR/USD pair moving in a narrow path confined from below above the support level of 1.0520, and from above below the resistance level of 1.0630. On the technical side today, we find …
Read More »USD is falling as inflation slows in Europe
The dollar fell on Wednesday against commodity-linked currencies such as the Australian dollar and against the euro, which was supported by a batch of data indicating that European inflation may have run its course. The dollar was already under pressure from investors who were increasingly optimistic that China’s easing of …
Read More »