Oil, Crude, trading

The British pound touched the bullish target required during the last analysis, at 163.10, recording a high of 163.32. On the technical side, the pair failed to stabilize for a long time above the psychological barrier resistance level 163.00, which forced it to trade negatively significantly to retest 162.00. With …

Tight sideways trading dominated the Canadian dollar’s movements yesterday, touching the strong support floor at 1.2600 and below the resistance level of 1.2690. Technically and carefully looking at the 60-minute chart, we find that the RSI is trying to gain more bullish momentum; this comes in conjunction with the positivity …

Oil, Crude, trading

Sideways trading without a clear direction dominated gold prices during the previous trading session to retest the 1850 resistance, unable to consolidate above it. Technically, and by looking at the 4-hour chart, we find gold stable below 1850, the previously broken support and now converted into a resistance level accompanied …

The single European currency declined during the previous session’s trading within the expected bearish path during the last analysis, in which we relied on breaking 1.0670, heading towards touching the first required target at 1.0625, recording its lowest level at 1.0627. Technically, and by looking at the 4-hour chart, we …

The Bank of Canada (BoC) lifted interest rates by 50 bps from 1.0% to 1.50% on Wednesday, a move that had been expected by most analysts, with a minority calling for a larger 75 bps hike.

Ukraine’s wheat harvest in 2022 is likely to fall to 19.2 million tons from 33 million tons in 2021, but lower exports will push stocks to record highs, the Ukrainian Grain Traders Union (UGA) said on Wednesday. Ukrainian officials and analysts said that hostilities in many areas may make harvesting …

Two sources in OPEC + told Reuters on Wednesday that the group expects the oil market surplus to be 1.4 million barrels per day in 2022, about 500,000 barrels per day less than previous expectations. The two sources were based on figures prepared for the meeting of the OPEC + …

The monthly data published by Eurostat showed on Wednesday that the Unemployment Rate in the euro area and the EU stayed unchanged at 6.8% and 6.2%, respectively, in April. Markets were expecting the euro area Unemployment Rate to edge lower to 6.7%.