West Texas Intermediate (WTI), the benchmark for U.S. crude oil, has rebounded from a three-month low of $72.22, experiencing a more than 4% increase during the mid-North American session. This rise has been attributed to U.S. sanctions on Russian oil shippers and profit-taking by traders. Currently, WTI is traded at $75.97 per barrel, marking a gain of 4.27%....
The GBP/USD pair is currently slightly above the 1.2400 level, navigating the upper part of the recent consolidation range. Initially, the British Pound gained 2.25% against the US Dollar midweek but later trimmed its increase to a more modest 1.65%. Despite general market optimism due to speculation about the Federal Reserve possibly pausing interest rate hikes,...
Gold, consolidating above $1,980 this Friday, aims to break a two-week downtrend. Despite the potential for a US dollar recovery, the decline in Treasury bond yields supports gold's upward movement. Surging above the 21-day Simple Moving Average at $1,974, Thursday's close motivated buyers. The 14-day Relative Strength Index remains comfortably above the midline,...
GBP/USD is moving sideways with a negative tone near 1.2410 during the Asian hours on Friday. The US Dollar (USD) finds support despite positive data on US jobless claims and a decrease in US Treasury yields. Continuing Jobless Claims for the week ending on November 3 increased to the highest level since 2022 at 1.865 million, compared to the previous reading of...
The price of gold has experienced substantial gains, surpassing $1,950 following a less pronounced increase than anticipated in the US Consumer Price Index (CPI) for October. This has led traders to scale back their bets on a December Federal Reserve rate hike. The US dollar slid in tandem with US Treasury bond yields due to disappointment in US inflation data....
The USD/CAD pair has attracted buying interest, maintaining modest gains just below the 1.3700 level. Declining crude oil prices and the strengthening of the US dollar contribute to this dynamic. From a technical perspective, the 50-day Simple Moving Average (SMA) support has been defended, but the lack of sustained support requires caution. A break below the...
During Thursday's Asian session, the GBP/USD pair consolidated, oscillating in a narrow range and maintaining spot prices above the 1.2400 level, influenced by the dynamics of the US Dollar (USD). The USD Index (DXY), which tracks the USD against a basket of currencies, struggled to capitalize on the modest recovery from the lowest level since September 1 due to...
The USD/CAD rate is hovering around 1.3820 during the early European session on Tuesday, with buying interest, followed by the immediate resistance region around 1.3850, in line with the previous week's high at the 1.3854 level. The Moving Average Convergence Divergence line is situated above the centerline but shows convergence below the signal line, suggesting a...
Current Trading Range: The EUR/USD pair is trading within a narrow range of 1.0695–1.0755 during the early European session on Tuesday. Market Sentiment: Traders are cautious and waiting on the sidelines ahead of crucial economic data releases from both the Eurozone and the US. These data releases are expected to bring volatility to the market. Recent Movement:...
The GBP/USD is hovering around 1.2250 on a quiet Monday. The pair printed a fresh daily high at 1.2259 on the back of Dollar weakness. Attention shifts toward UK employment figures and the critical US CPI data due on Tuesday. The GBP/USD gained momentum and pushed towards 1.2250 in the European session on Monday after spending the Asian session fluctuating in a...
The price of gold (XAU/USD) has dropped to approximately $1,940 and faces further decline due to several challenges. Factors include the absence of significant tensions in the Middle East, hawkish statements from Federal Reserve Chair Jerome Powell, and uncertainty preceding the release of the US Consumer Price Index (CPI) data for October on Tuesday. Investors...
The EUR/USD pair starts the week with a positive outlook in the early hours of Monday's Asian trading. The pair's rebound is supported by the consolidating stance of the US Dollar. Bouncing from last week's low of 1.0656, the pair remains capped below the 1.0700 threshold. The Relative Strength Index (RSI) on the 4-hour chart has retraced below the 50 levels,...
This passage provides a comprehensive overview of the GBP/USD currency pair's recent performance, along with relevant economic indicators and factors influencing the market. Let's break down the key points: GDP Data from the UK: The UK's Gross Domestic Product (GDP) expanded at an annual rate of 0.6% in Q3, surpassing expectations. Despite this positive data,...
Closing on November 10: The SP500 index recorded a brilliant rise, gaining 1.56%. The opening occurred at 4,364.1 points, below the highs of the previous session. Throughout the day, the quotes strengthened, closing at 4,415.2 points, near the session highs. Status and Trend Analysis: Short-term trend: Signs of strengthening with immediate resistance at...
The USA technology stocks index has experienced a significant increase, closing the session with a gain exceeding 2.25% compared to previous values. The day started with determination, opening at 15,252.4 points, slightly below the highs of the previous session. Throughout the day, quotations strengthened, culminating in a closing upswing at 15,529.1, near session...
The downward trend in gold prices persisted after the opening of the U.S. market, with XAU/USD holding near $1,940, marking a four-week low. Despite subdued demand for U.S. dollars, gold is set to conclude the week with significant losses. On the daily chart, there is a new attempt by bulls as the XAU/USD pair seeks to surpass the 23.6% Fibonacci retracement level...
EUR/USD Pair: The EUR/USD pair is trading within a tight range around the 1.0700 level during the Asian session, lacking a clear intraday direction. US Treasury Bond Yields and Equities: A recent significant pullback in US Treasury bond yields and a rally in US equity markets have not provided support for the US Dollar, traditionally considered a safe-haven...
On Tuesday, the GBP/USD exchange rate faced renewed downward pressure, falling towards the 1.2250 level. This decline was driven by the ongoing recovery of the US Dollar, supported by rising Treasury yields, despite positive movements in Wall Street. The GBP/USD exchange rate was last seen trading near 1.2300, where it encountered a key resistance zone marked by...