On Friday, currency futures gained on the dollar as US inflation data failed to surprise. Despite recent positive US economic data, the dollar has struggled to make significant gains after substantial increases in the July-September period. US core PCE price index (Source: Bureau of Economic Analysis) The personal consumption expenditures price index increased 3.4% in Read More…
The market plunged last week, taking out key support levels as the daily chart resembles a rounding top formation. From here, the market still looks bullish in the medium to long term, but let’s take a look at the technicals and levels to watch for this week. You can see the $14,700 level, which was Read More…
Gold closed higher Thursday as US Treasury yields retreated while investors absorbed mixed US economic data. US Economic Surprise Index (Source: Bloomberg) The US economy expanded at a faster-than-expected rate in the third quarter due to strong consumer spending and a strong labor market. Gross domestic product went up by 4.9% annually in the last Read More…
On Wednesday, oil prices increased by approximately 2% due to concerns about conflict in the Middle East. However, higher US crude inventories and gloomy economic prospects in Europe capped the gains. Price Futures analyst Phil Flynn mentioned that prices initially dropped during the session but rebounded due to increased geopolitical risks. WTI Futures (Source: Nymex) Read More…
Last week’s crude oil technical analysis indicated that the price was on the verge of breaking its upward trendline. The 38% Fib line from last July’s high was a key reference point. Bears targeted the point of control line at $80, while bulls aimed to maintain control above $82 and eyed a move to $95.03 Read More…
On Tuesday, equities rose thanks to strong corporate earnings and optimistic forecasts, boosting investor risk appetite and sparking a broad market rally. All three major US stock indexes moved higher, largely driven by large-cap companies sensitive to interest rates. Meanwhile, benchmark Treasury yields remained stable, comfortably below their recent peak at 5%. The third quarter Read More…
