Higher-than-expected employment gains may put pressure on Gold. James Bullard suggested that 2023 might eventually usher in some inflation relief. The number of Americans submitting new claims for unemployment benefits decreased to a three-month low last week. Gold prices pulled back slightly on Friday but were on course for a third consecutive weekly rise. Investors Read More…
Oil prices fell yesterday on concerns over a probable global recession. US manufacturing continued to decline in December, affecting oil prices. In anticipation of weak local demand, the Chinese government boosted export quotas for refined oil products. After two days of severe losses in oil prices, investors came out to buy dips on Thursday amid Read More…
Gold is now only 12% away from 2022 highs. Critical technical indicators that help us understand recent price action. Analyzing an Orderblock and Moving Average Band for Improved Entries. Gold Up 2.6% So Far in 2023 It’s been a positive start for Gold, with the yellow metal up 2.6% in the first week of trading Read More…
The FOMC minutes will determine the future course of interest rates. Markets are already pricing in rate reductions by the end of 2023. The Fed will start easing its monetary tightening path when the jobs market weakens. Major Equity futures prices crawled higher on Wednesday while the dollar fell. Investors are eagerly awaiting the Federal Read More…
CL suffers a 9% decline in just two days, as suspected. Analyzing the order block responsible for multiple price rejections at $81.55. Evaluating the differences between time-based and range charts in a trending market. Quick Recap Before the end of the year, we looked at possible bearish targets around $67.98. CL dipped from $75 to Read More…
Manufacturing activity in China decreased at the fastest rate in almost three years. S&P 500 and Nasdaq futures were up 0.1%, reflecting the cautious atmosphere on Wall Street. This week’s data on US payrolls is anticipated to show that the labor market is still tight. On Tuesday, equities rebounded from early losses as traders assessed Read More…
