Oil, Crude, trading

The technical outlook is unchanged, and there was no change in the gold’s movements, maintaining positive stability within the gradual bullish slope, recording its highest level around the psychological barrier of $1800 per ounce. Technically, and carefully looking at the 4-hour chart, we notice the price stability above the 50-day …

The positive attempts of the euro against the US dollar continue, and the positivity is still limited, to find the pair unable to consolidate above the strong resistance level at 1.0350, which constitutes the key to protecting the bearish trend. Technically, we are inclined towards a bearish bias in the …

In its monthly report published on Thursday, the Organization of the Petroleum Exporting Countries (OPEC) said that it lowered the 2022 full-year demand growth forecast to 3.1 million barrels per day (bpd) from 3.36 million bpd, as reported by Reuters.

There were 262,000 initial jobless claims in the week ending August 6, the weekly data published by the US Department of Labor (DOL) showed on Thursday. This print followed the previous week’s print of 248,000 (revised from 260,000) and came in slightly lower than the market expectation of 263,000. Further …

The dollar recorded further losses against other major currencies on Thursday after traders reduced their bets that the Federal Reserve (the US central bank) would raise interest rates aggressively after US inflation data that came the previous day was weaker than expected. And the dollar index, which measures the performance …

Gold prices fell on Thursday from their highest levels in more than a month, as comments from Federal Reserve officials pointed to further interest rate hikes despite signs of easing inflation in the world’s largest economy. Gold is highly affected by rising US interest rates, because they increase the opportunity …

Oil prices stabilized on Thursday after the International Energy Agency raised its forecast for demand growth for crude this year, as rising gas prices prompted some consumers to switch to oil. By 0829 GMT, Brent crude futures fell seven cents, or 0.1 percent, to $ 97.33 a barrel, while West …

European shares started Thursday’s session higher to consolidate gains in the previous session after data showed signs of slowing inflation in the United States, while shares of Dutch insurance company Aegon rose after raising its full-year forecast. The pan-European Stoxx 600 index rose 0.4 percent after its best session in …

Auto sales in China rose 29.7 percent in July compared to a year ago to 2.42 million units, continuing the recovery that began in June, supported by the easing of Covid-19 restrictions and government incentives. Data released by the China Association of Automobile Manufacturers on Thursday showed that sales for …