Currency futures extended Friday’s move when the dollar ended the week down amid the US Thanksgiving holiday. At the same time, the greenback was weak as market participants geared up for key US economic reports. The dollar had a bearish week as market focus shifted from Trump’s win to the looming Fed policy meeting. However, Read More…
Interest futures had a strong rally this week as the Trump trade faded and data solidified bets for a December Fed rate cut. Meanwhile, Treasury yields and the US dollar eased from their peaks amid thin holiday trading on Thursday and Friday. The dollar and Treasury yields have rallied in November after Trump won the Read More…
Oil prices held flat on Thursday as the US observed the Thanksgiving holiday. Moreover, US crude and gasoline inventories data in the previous session revealed a mixed picture of demand. Data on Wednesday revealed that US gasoline inventories increased by 3.3 million barrels. Meanwhile, economists had expected a 46,000 barrel draw. At the same time, Read More…
Gold rebounded on Wednesday as the dollar fell ahead of crucial US inflation data. In the previous two sessions, gold eased amid reports of a looming ceasefire in the war between Israel and Hezbollah. Moreover, Trump’s pick for the next US Treasury Secretary boosted the dollar and weighed on the yellow metal. The greenback paused Read More…
The US equities gained on Monday amid optimism stemming from speculations about the Israel-Hammas ceasefire. However, the gains reversed and closed the day in negative territory. The US stocks stayed flat on Tuesday as investors went perplexed amid new tariff threats imposed by President-elect Donald Trump. Trump proposes 25% tariffs on imports from Canada and Read More…
Gold futures introduction Building on the November 7 analysis, where we discussed the potential Head and Shoulders (H&S) formation, today’s updated chart confirms resistance at $2,707.6, aligning with the Right Shoulder level. Gold remains in its ascending channel, but a breakdown of $2,542.3, the “Last Support,” would validate the H&S pattern, triggering a reversal with Read More…
