Gold prices have been on a remarkable rally, recently reaching fresh all-time and historical highs. A confluence of technical indicators and fundamental factors suggests that this bullish trend may persist. Technical Analysis: A Strong FoundationThe recent price action has been characterized by a series of higher highs and higher lows, …
Read More »Oil Prices Jump as Iran Tensions Escalate and U.S. Crude Inventories Shrink
Oil prices surged on Wednesday, with U.S. crude climbing more than 2% as renewed geopolitical tensio…
Gold Drops Over 3% After CPI Data Reinforces Higher-for-Longer Rate Outlook
U.S. Inflation Figures Weigh on Gold as Markets Scale Back Expectations for Interest Rate CutsGold p…
U.S. CPI Hits 3-Year High of 4.2% as Gasoline Prices Surge 40.5%: Fed Rate Hike Bets Solidify
Key Takeaways Headline CPI accelerates: Annual consumer prices rose 4.2% in May — up from 3.8% in Ap…
U.S. CPI Hits 3-Year High of 4.2% in May: Iran War Energy Shock Keeps Inflation Pressure Firmly Elevated
Key Takeaways CPI at 3-year high: Annual U.S. consumer inflation rose to 4.2% in May — the highest r…
Trump Threatens Iran Power Plants and Bridges as Talks Collapse: Oil Surges 2% on “Bully of the Middle East is DEAD” Post
Key Takeaways Oil rebounds sharply: Brent rose 1.7% to $93.03 per barrel, while WTI climbed 2.0% to …
May Inflation Expected at 4.2%, Highest in Three Years as Iran War Ripples Through Consumer Prices
Key Takeaways 4.2% annual CPI expected: If confirmed, it would mark the highest inflation reading si…
Barclays: European Stocks Can Handle ECB Rate Hikes Better Than 2011 — Banks, Energy, and Miners the Top Picks
Key Takeaways ECB 25bp hike expected Thursday: Policymakers responding to Iran war energy-driven inf…
Wall Street Futures Slide as Iran Strikes Resume and Tech Rally Fizzles: CPI Data the Last Hope for Market Direction
Key Takeaways Futures fall: S&P 500 futures dropped 0.2% to 7,373.75, Nasdaq 100 futures fell 0.…
Bitcoin Crashes 3% as Iran Missile Barrage Crushes Peace Hopes: ETF Outflows Slow But War Fears Dominate
Key Takeaways Bitcoin falls 3%: The world’s largest crypto dropped to $61,375.5, wiping out mo…
Oil Rebounds 1.8% as U.S. Strikes Iran Over Downed Helicopter: Ceasefire Unravels and API Shows Massive 9M Barrel Draw
Key Takeaways Oil bounces back: Brent rose 1.8% to $93.08 per barrel, while WTI climbed 1.8% to $89.…
Market Analysis
August, 2024
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20 August 2024 7:23 pm
GBP/USD Surges Towards July Highs Amid Bullish Momentum
GBP/USD’s bullish run shows no signs of abating. The pair continued its upward trajectory on Tuesday, gaining 0.32% to reach 1.3030, inching closer to mid-July highs. This sustained upward momentum is evident in the recent trading sessions. The next hurdle for GBP/USD lies at 1.3100. If the pair can break …
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20 August 2024 6:47 pm
Analyzing Goldman Sachs’ Revised US Recession Outlook
Goldman Sachs, a leading investment bank, has recently revised its forecast for a U.S. recession, decreasing the probability to 20%. This adjustment follows a brief uptick in the likelihood after a weaker-than-expected July jobs report. However, subsequent economic indicators, including retail sales and jobless claims, have mitigated concerns about an …
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20 August 2024 1:41 pm
U.S. Dollar Slips to Near Seven-Month Lows Amid Rate Cut Speculation
The U.S. dollar continued its downward trend on Tuesday, edging closer to seven-month lows as growing expectations of a Federal Reserve interest rate cut in September weighed on the currency. As of 04:00 ET (09:00 GMT), the Dollar Index, which measures the greenback against a basket of six major currencies, …
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20 August 2024 12:30 pm
European Shares Steady Ahead of Key Data, Energy Stocks Lead Declines
European shares were mostly flat on Tuesday as investors held back from making significant bets ahead of crucial euro zone data. The pan-European STOXX 600 index remained stable at 514.87 points as of 0710 GMT, after reaching a three-week high in the previous session. Sector Highlights: Energy Stocks Fall: The …
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20 August 2024 11:24 am
Bitcoin Rises as Fed Rate Cut Bets Fuel Broader Market Gains
Bitcoin surged on Tuesday, rising 4.5% to $61,176.1 by 01:29 ET (05:29 GMT), as optimism about potential interest rate cuts by the Federal Reserve bolstered risk-driven markets. This growth mirrors broader market gains, reflecting increased investor confidence that the Fed may reduce rates in September. Key Factors Driving Bitcoin’s Rise: …
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20 August 2024 10:47 am
Oil Prices Decline as Israel Accepts Proposal to Resolve Ceasefire Disagreements
Oil prices fell on Tuesday as Israel accepted a proposal to address disagreements that were hindering a ceasefire deal in Gaza, reducing concerns over potential supply disruptions in the Middle East. By 0600 GMT, Brent crude dropped 67 cents, or 0.86%, to $76.99 per barrel. U.S. West Texas Intermediate (WTI) …
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20 August 2024 10:00 am
Gold Prices Ease Slightly, Remain Near Record Highs on Fed Rate Cut Speculation
Gold prices dipped slightly in Asian trading on Tuesday but remained close to their record highs as traders increasingly believe that the Federal Reserve will begin cutting interest rates in September, leading to a weaker dollar. Spot gold edged down 0.1% to $2,501.06 an ounce, while December gold futures also …
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20 August 2024 3:09 am
Market Drivers; US Session, August 19
Selling pressure on the US Dollar persisted as investor risk appetite strengthened ahead of crucial economic events. The release of the FOMC minutes and Federal Reserve Chair Powell’s speech at Jackson Hole loomed large.The USD Index plunged to its lowest point in several months, nearing 101.80, as positive sentiment dominated …
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20 August 2024 1:54 am
Is Bitcoin Encountering Consolidation or Collapse?
Bitcoin’s recent price behavior has ignited a fervent debate among investors and analysts. After a brief flirtation with the $60,000 level, the world’s largest cryptocurrency has retreated, leaving market participants grappling with uncertainty. Is this a temporary consolidation phase, or a harbinger of a more protracted downturn?The Macroeconomic UndercurrentTo fully …
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20 August 2024 12:58 am
Canadian Dollar Finds Limited Support Amid Inflation Data, Rate Cut Expectations
The Canadian Dollar exhibited a mixed performance on Monday, appreciating against its US counterpart while depreciating against other major currencies. This divergence comes as investors await crucial economic data releases and navigate a complex interest rate environment.Canada is poised to unveil its latest Consumer Price Index (CPI) figures on Tuesday, …
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19 August 2024 11:54 pm
Dow Jones continues to climb
On Monday, the Dow Jones Industrial Average increased by more than 150 points. As market sentiment rises, stocks are gaining ground. Fears of a recession have subsided in the wake of positive US data.As US market indices often gain ground, the Dow Jones Industrial Average (DJIA) increased by more than …
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19 August 2024 10:26 pm
EUR/USD Surges on Dovish Fed Outlook, Softer Dollar
Despite trading 1.1084, at the time of writing, the EUR/USD currency pair climbed higher on Monday, reaching levels near 1.1030, driven by growing expectations of a potential interest rate cut by the Federal Reserve as early as September.Recent economic data in the United States has painted a mixed picture. While …
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