WTI oil on track for a weekly drop of over 5%
Bears are taking a breather and consolidating above three-month low ($62.39) in early Friday trading, following a steep fall in past six days.
The contract is on track for a weekly loss of over 5% as surging cases of Delta variant of…
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US weekly jobless claims fall to the lowest since mid-March 2020, point to continuing recovery in…
The US weekly jobless claims fell 29,000 to 348,000 last week, hitting the lowest since mid-March 2020 and signaling that the US labor sector continues to recover from the deep crisis caused by coronavirus pandemic.
The previous week’s…
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Aussie extends steep fall to the lowest in nine months
The Australian dollar extends weakness into fourth straight day and fell to the lowest levels since early November 2020 on Thursday.
Weaker equities on risk aversion and steep fall in iron ore prices weighed on risk-sensitive Aussie…
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Risk aversion pushes cable below 1.37 mark
Cable resumes steep descend, which paused after 0.8% drop on Tuesday, and probed below 1.3700 mark on Thursday.
Bears cracked pivotal Fibo support at 1.3668 (76.4% of 1.3571/1.3983), on course to fully retrace the upleg from 1.3571 (July…
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Euro falls to new 2021 low, risks deeper correction
The Euro holds firmly in red for the fourth straight day and hit new 2021 low (1.1665) on probe through key supports at 1.1704/1.1694 (former annual low of Aug 11 / Fibo 38.2% of 1.0635/1.2349 rally).
Fresh risk aversion on fears that…
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Reports of Unemployment and Average Earnings Index in UK and market participants waiting for Jerome…
As concerns about the pandemic consequences of the Covid19 delta variant on the financial market continue, demand levels on many stocks have fallen, and prices are moving in the corrective direction, resulting in declining key indices such…
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Rising gold prices as a safe investment alternative
In the gold market, due to the reduction of risk-taking in the financial markets, the demand for gold as a safe investment alternative has increased, and the price is moving in a bullish trend. Today, US Federal Reserve Chairman, Jerome…
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Oil and gold, similar reasons, different directions
At the brent oil index, Forecasts indicate a possibility of a decrease in the level of industrial demand for crude oil, given the concerns about pandemic conditions and the increase in cases of Covid19 delta variants in Asia, Europe, and…
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Financial markets affect of the impact of Covid19 Delta variants on economic activities
Recent reports of the delta variant pandemic in Europe and the United States, and its possible economic consequences, have raised concerns among financial market participants, resulting in lower demand in stock markets.
…
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Gold and crude oil at a two-way road
Yesterday was an eventful day for the markets. On one hand the brent oil index was affected by the IEA reducing the outlook for global crude oil demand due to the continuation of the Covid-19 pandemic. However, according to the OPEC…
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