A stronger dollar and rising bond yields caused gold prices to drop over 1% to a two-week low. Spot gold declined by 1.4% to $1,943.89 per ounce, while US gold futures fell 1.36% to $1,943.40 per ounce. The US dollar gained ground on Thursday, driven by news of stronger-than-expected economic growth in the country, despite Read More…
On Wednesday, oil prices dropped by approximately 1% due to two factors. Firstly, data revealed that US crude inventories fell less than anticipated. Secondly, the Federal Reserve raised interest rates by 0.25 percentage points. Earlier in the session, oil experienced a decrease of more than $1, despite reaching three-month highs on Tuesday. WTI futures (Source: Read More…
Introduction: Based on the daily chart, this technical analysis of T-Bond Futures (ZB) will examine the recent price movement, key technical indicators, and potential trading opportunities. Throughout the year, ZB has experienced relatively flat price action, lacking a clear trend. The 50-day moving average sloping downward and the price trading below it suggests the presence Read More…
US equities ended Tuesday higher as The Nasdaq, a technology-heavy index, drove gains. Investors were excited about artificial intelligence, anticipating earnings reports from tech giants Alphabet and Microsoft. Both Alphabet and Microsoft have introduced various AI products since the release of ChatGPT by OpenAI, which is backed by Microsoft. These new products offset the slowdown Read More…
Recap In the previous analysis, we did on July 14th, the Euro was rallying up toward a resistance level of $1.12. I want to take a look at price action now as it looks like there is a potential buying opportunity in the Euro. Applying the basics of Elliott wave theory to the price action Read More…
On Monday, the Dow Jones Industrial Average led the upward trend on Wall Street, achieving its longest winning streak in six years. Investors showed confidence in various sectors, not just technology, amidst a week filled with earnings reports and a Federal Reserve meeting. They are eagerly anticipating the earnings of Microsoft, Google-owner Alphabet, and Meta Read More…
