Gold rises on geopolitical tensions but the path of Fed rate cuts to be the main driver
Gold price rose on Monday, as growing tensions in the Middle East boosted demand for safe haven metal, while markets focused on Fed’s monetary policy meeting this week.
Fresh strength cracked pivotal barriers at $2029 / 37 zone (daily…
Read More...
Read More...
EURUSD – repeated probe through pivotal supports adds to negative near-term bias
Bearish pressure rises on break below 200DMA (1.0841) and probe through 1.0821 Fibo support (76.4% retracement of 1.0723/1.1139 upleg), as fresh bears also violate the floor of four-day congestion.
Firm break lower to signal continuation…
Read More...
Read More...
Bitcoin – recovery faces increased headwinds at key resistance zone
Narrow sideways mode extends into third consecutive day after recovery from two-month low (38501 of Jan 23) showed signs of stall at key resistance zone (42500).
The price action is on track to form the third straight daily Doji candle…
Read More...
Read More...
WTI OIL enters corrective phase but remains supported by growing supply disruption concerns
WTI oil eases in early Monday trading after opening with a gap higher and price rose new two-month high ($79.27).
Growing tensions in the Middle East and fall in Russian refined products export, continue to fuel fears of supply…
Read More...
Read More...
US inflation remains in a downward trajectory despite moderate price rise in December – PCE
In December, US. prices rose moderately, keeping the annual increase in inflation below 3% for a third straight month.
The Personal Consumption Expenditures (PCE) price index increased by 0.2% in December, with an annualized gain of…
Read More...
Read More...
EURUSD – near-term action looks for direction signals
The Euro rose to the upper side of near-term congestion on Friday, after hitting new marginally lower low of larger downtrend from 1.1139 (Dec 28 peak).
Today’s bounce points to still strong bids, although without sufficient bullish…
Read More...
Read More...
US economy grew above expectations in the fourth quarter
The US economy grew faster than expected in the fourth quarter, driven by strong consumer spending, increased exports, more government spending, and a pickup in business investment.
The gross domestic product increased at a 3.3%…
Read More...
Read More...
ECB keeps rates unchanged but without any signal of rate cuts
The European Central Bank kept interest rates unchanged, in line with expectations and repeated it will continue to fight inflation, but remained completely silent regarding potential policy easing, which markets widely expect to start…
Read More...
Read More...
German business sentiment falls further in January, warning about prolonged recession
German business morale extended decline for the second consecutive month in January, as Europe's largest economy struggles to recover from a recession, which adds to growing fears of prolonged weakness.
German Ifo institute’s business…
Read More...
Read More...
EURGBP – initial reversal signals need more work at the upside for validation
EURGBP rose in early Thursday’s trading, adding to initial signal of formation of reversal pattern on daily chart, after Wednesday’s action ended in long-legged Doji candle, signaling indecision.
Oversold studies contributed to fresh…
Read More...
Read More...