Four sources told Reuters that OPEC and its allies will likely stick to their current policy of gradually increasing oil production, despite an upwardly revised demand forecast in 2022 and in the face of US pressure to raise production at a faster pace. The Organization of the Petroleum Exporting Countries …

A survey revealed that the growth of the manufacturing sector in the euro area remained strong in August, but supply chain problems related to the Covid-19 pandemic continued to impede the supply of raw materials needed by factories, which led to higher prices. The easing of restrictions imposed to curb …

The Turkish economy grew by 21.7% on an annual basis as expected in Q2, recovering strongly from a sharp slowdown a year ago driven by COVID-19 restrictions. Data from the Turkish Statistical Institute showed that the economy grew 0.9% from the previous quarter on an adjusted basis in light of …

Data on Wednesday showed that German retail sales fell much more than expected in July after two months of increases, in the first indication that a consumer-led recovery in Europe’s largest economy could lose some momentum in the third quarter. The Federal Statistics Office said retail sales fell 5.1% month-on-month …

Japanese shares jumped on Wednesday, with the Nikkei index hitting a one-and-a-half month high, as investors bet that a maneuver by Prime Minister Yoshihide Suga could help restore political stability. The Nikkei gained 1.29% to 28,451.02 points, the highest closing level since July 14, after it crossed important resistance levels …

European shares rose on Wednesday as hopes for more stimulus battled fresh signs of weakness in Asian economies, while investors shook off concerns about rising inflation. After seven consecutive months of gains, the pan-European STOXX 600 index started September with a gain of 0.7%, close to its record highs set …

The German DAX index managed to achieve decent gains during the previous trading session, attacking the psychological barrier of 16,000. On the technical side, today’s movements are witnessing an upward bias on positive stimulus from the 50-day moving average, in addition to the stability of trading above 15,750. Therefore, we …

Oil, Crude, trading

There was little change in GBP/JPY, maintaining the bullish bias. On the technical side, we tend to be positive but cautiously, relying on the stability of the intraday trading above the mentioned support level and the attempts of the 50-day moving average to hold the price. Therefore, the bullish bias …

The Canadian dollar successfully retests the pivotal support published in the previous analysis, at 1.2580, concluding its daily trading above the mentioned support. Technically, and by looking at the chart, we find Stochastic is trying to get rid of the current negativity, in addition to trading above 1.2580. This increases …