US crude oil futures prices continue to achieve heavy losses within the expected downside path, surpassing the official target required to be achieved during the last analysis at 74.80, recording its lowest level at 73.85. Technically, the downside wave is still valid and practical, with the continuation of the negative …
Read More »Gold hovering around support, waiting for a stronger trend 28/11/2022
A limited bearish bias dominated gold’s movements last Friday, aiming to retest the support floor published during the previous analysis at 1745, trying to stabilize above it. Technically, we tend to be positive, but with caution, depending on the stability of daily trading above the 1745 support level at 23.60% …
Read More »Euro retesting support 28/11/2022
Quiet trading tended to be negative, dominating the movements of the euro-dollar pair at the end of last week’s trading during the Thanksgiving holiday, to witness the current movements of the euro-dollar stabilizing around the lowest level during the early trading of the current session 1.0350. Technically, by looking at …
Read More »Weekly Recap: 21-25 Nov.
Data on Friday showed that the German economy expanded slightly in the third quarter, more than initially expected, supported by consumer spending. The Federal Statistical Office said Europe’s largest economy grew by 0.4 percent quarterly and 1.3 percent annually, according to seasonally adjusted figures. Analysts polled by Reuters had expected …
Read More »Gold’s luster fades with the rise of the dollar, but it is about to make a modest weekly rise
Gold prices fell on Friday, with the dollar restoring its upward trajectory, but expectations of a less sharp interest rate hike from the US Central Bank put the yellow metal on the path to achieving a small weekly gain. And gold fell in spot transactions 0.2 percent to $ 1751.49 …
Read More »Pound is heading towards recording gains for the third week, but remains weak
The British Pound fell slightly on Friday, but is still on track for its third consecutive weekly increase against the US dollar. Analysts expect sterling to remain fragile as central banks, including the Bank of England, continue to tighten monetary policy even though the recession is expected to be deeper …
Read More »European stocks are falling
European stocks fell on Friday as retailers came under pressure following the start of the holiday shopping season amid fears of a sharp slowdown in the global economy and a sharp rise in inflation. The Stoxx 600 index was down 0.1% by 0811 GMT, below a three-month high hit earlier …
Read More »Japan’s Nikkei closes lower, but records a weekly jump
Japan’s Nikkei average closed lower on Friday, after hitting a more than two-month high in the previous session, as investors sold shares of chip-related technology and growth companies to lock in gains. Still, losses were limited by hopes of a slowdown in rate hikes globally. The Nikkei index fell 0.35 …
Read More »Germany’s Final GDP expands 0.4% QoQ in Q3
The German economy expanded by 0.4% on the quarter in the three months to September of 2022 vs. 0.3% prior, the final revision confirmed on Friday. The reading came in above the market consensus of 0.3%. On an annualized basis, Europe’s economic powerhouse’s GDP grew 1.3% in Q3 2022 vs. …
Read More »Gold is about to achieve a weekly gain amid hopes that the US central bank will slow down the rate hike
Gold prices rose slightly on Friday, on track for a weekly gain, as it received support from a weaker dollar on signs that the Federal Reserve may soon slow the pace of raising interest rates. Spot gold rose 0.2 percent to $1,758.41 an ounce by 0223 GMT, and has risen …
Read More »