Gold hit new all-time high, bullish bias above $2000
Gold spiked to new record high above $2100 in early Monday, in reaction to the comments from Fed Chair Powell on Friday, who said that current level of interest rates is sufficient to complete the task in putting inflation under control and…
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EURJPY – completion of failure swing pattern to signal deeper pullback
EURJPY remains in red and holding near three-week low on Friday, on track for the first weekly loss in five week and the biggest drop since the second week of March.
Initial signal of larger rally stall was also generated by November’s…
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EURGBP – steep fall extends below thick daily Ichimoku cloud
EURGBP continues to trend south and hit new 3 ½ month low on Friday, in extension of steep and uninterrupted downtrend from 0.8765 (Nov 16 peak).
The pair is on track to complete the second week of heavy losses, after November’s close in…
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EURUSD stands at the back foot ahead of Fed Powell’s speeches
EURUSD was a tad higher on Friday morning following nearly 0.8% drop on Thursday, when the Euro was deflated by soft EU inflation numbers which may add to ECB’s dovish stance in the near future.
Additional pressure came from stronger…
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Oil price extends advance as OPEC+ rolls over production cuts
WTI oil price rose above $79 for the first time in two weeks on Thursday, as fresh bullish acceleration extends into third consecutive day.
The OPEC+ decided to extend its supply cuts in 2024, as the cartel met today, after meeting…
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US consumer spending and inflation slow in October
US consumer spending increased moderately in October, rising by 0.2%, following a more substantial 0.7% gain in September. Consumer spending is a significant contributor to US economic activity, representing over two-thirds of the total.…
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Eurozone inflation drops more than expected in November
Eurozone inflation experienced a more significant decline than expected, falling from 2.9% in October to 2.4% in November. This drop was below the anticipated 2.7%, with almost all items contributing to the decline, except for unprocessed…
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GBPUSD – bulls loosen grip ahead of key US data
Cable eases from new three-month high in European trading on Thursday, as daily Doji candle on Wednesday signaled indecision and overbought daily studies prompted a partial profit-taking.
Failure to register a daily close above 1.2719…
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GOLD – bulls are pausing but hold grip for fresh acceleration higher
Gold prices eased from new highest level in over six months on Wednesday as investors collected some profits from the latest acceleration in past four days.
Overbought daily studies also contributed to such decision, although dips were…
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US economic growth accelerated in the third quarter
The US economy grew faster than expected in the third quarter of 2023, with the Gross Domestic Product increasing at an annualized rate of 5.2%, revised up from the initially reported 4.9% and beating 5.0% forecast This growth rate was the…
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