Oil price slumps after OPEC+ agreed to increase production
WTI oil price collapsed on Monday after OPEC+ group eventually reached an agreement to boost output from August and cool oil prices that rose to the highest levels in nearly seven years.
Strong bearish acceleration (the contract is so…
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Cable hits 11-week low, pressures 200DMA support
Cable extends weakness into third straight day (down nearly 0.5% in Asia / early Europe on Monday) and pressures strong 1.3700 support zone (round-figure / 200DMA).
Last week’s break below the triangle and today’s extension below…
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Risk off mode keeps euro under pressure
The Euro holds in red for the third straight day and accelerates below 1.18 handle in early Monday.
Quick spread of Delta variant of coronavirus sours the sentiment and fuels fresh risk aversion that keeps the Euro under pressure.…
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US retail sales unexpectedly jump in June
US retail sales jumped 0.6% in June from downwardly revised 1.7% drop in May, while economists forecasted decline of 0.4%.
Unexpected increase was boosted by persisting strong demand for goods, despite spending was shifted to services…
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Dips to provide better buying opportunities; $1800 support expected to hold
Spot gold eases on Friday morning after larger bulls broke above pivotal 200DMA ($1826) but Thursday’s Doji candle signaled indecision.
Dips are likely to provide better buying opportunities, as near-term structure is bullish, and the…
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Clear break out of triangle to provide fresh direction signal
Cable probes below triangle support line in early Friday, after repeated rejections at the upper boundary of the pattern signaled that bulls are lacking momentum, despite positive UK inflation data.
Fresh weakness is mainly driven by…
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Weak EU inflation figures would add to negative near-term outlook
The Euro is standing at the back foot in early European trading ahead of EU inflation data.
Thursday’s close in red after upside rejection and signal of bull-trap above falling 10DMA, weighs on near-term action, along with bearish daily…
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Expected supply increase keeps oil price under pressure
WTI oil remains in red on Thursday and extends south, following Wednesday’s 3% drop, as markets anticipate increased supplies after a compromise deal between leading OPEC producers.
Saudi Arabia and United Arab Emirates reached a…
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Upbeat inflation and labor data support sterling for break of the upper triangle boundary
Cable remains within choppy and narrowing range on Thursday, despite strong UK inflation and labor data, as well as dovish tone from Fed’s chief Powell.
Improving conditions in the UK labor sector suggest that economic recovery is gaining…
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China’s economic activity slows in Q2
China’s economic growth slowed below expectations in the second quarter, as higher prices of raw materials and new coronavirus outbreaks weighed on economic activity.
Economic growth slowed significantly from a record 18.3% expansion in…
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