The loonie’s movement has changed little and is still hovering below the pivotal resistance level 1.2880 that it has been unable to breach. Technically, we tend to the negativity, relying on the support of the 50-day simple moving average for the bearish bias, which is exerting negative pressure on the …

Oil, Crude, trading

Gold prices continued to rise gradually to the upside, as we expected, heading to touch the official target station yesterday at 1794, recording its highest level at 1794. Technically, and by looking at the 240-minute chart, we find the 50-day simple moving average that enhances the chances of rising, in …

A positive trading session witnessed the movements of the euro against the US dollar within the expected bullish bias during the previous analysis, touching the retest target that is required to be achieved over the short time intervals at 1.0210, recording the highest level at 1.0253. Technically, we find the …

Bank of England (BoE) Governor Andrew Bailey is delivering his remarks on the policy outlook and responding to questions from the press following the bank’s decision to hike the policy rate by 50 basis points to 1.75%. Quotes “We would have had to raise interest rates in double digits last …

Following its August policy meeting, the Bank of England announced that it raised the policy rate by 50 basis points to 1.75% as expected. The policy statement revealed that Monetary Policy Committee (MPC) member Silvana Tenreyro voted to hike the rate by 0.25 basis points.

Oil prices held largely steady on Thursday as the market balanced tight supplies with demand concerns, after an increase in US crude and gasoline inventories pushed prices to multi-month lows in the previous session. By 0925 GMT, Brent crude futures rose 36 cents, or 0.37 percent, to $97.14 a barrel, …

The dollar held onto recent gains against other major currencies on Thursday, as comments from Federal Reserve officials reinforced the US central bank’s determination to tackle the highest inflation rate in decades with massive interest rate hikes. Meanwhile, the Bank of England is widely expected to raise interest rates by …

European shares rose on Thursday following strong results for several companies, while the focus is on the Bank of England, which is expected to raise interest rates by the most since 1995. The pan-European Stoxx 600 index rose 0.1 percent, following the path of Asian stocks, which rose 0.4 percent, …

Gold prices rose on Thursday, supported by lower US Treasury yields, as cautious investors awaited the US non-farm payrolls report due this week for more clues on the Federal Reserve’s stance on raising interest rates. By 0628 GMT, spot gold rose 0.3 percent to $1,769.74 an ounce. US futures also …