The gold affected by negative climate in the markets. Recovery stalls below $1860, next support at $1830. Focus on the bags and more data from the US is coming. Gold is falling on Thursday, erasing some of Wednesday’s bounce. The XAU/USD hit as high as $1,858 in the Asian session, a two-day high, but then […]
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ECB: Rates likely to be in positive territory early next year – Gabriel Makhlouf
The member of the Governing Council of the European Central Bank (ECB), gabriel makhloufsaid on Thursday that it is realistic to expect central bank interest rates to be in positive territory early next year, Reuters reported. “We have reached the point where we have to act on the Governing Council of the ECB,” Makhlouf said. […]
EUR/USD crashes to 1.0420, five-year low
The dollar gains momentum in a climate of tension in the markets. The euro does not get support even for “hawkish” comments from ECB officials. EUR/USD targets 1.0400; closer to hitting lows since 2003. The strength of the dollar pushed the EUR/USD to the lowest levels since January 2017 at the 1.0420 zone, in a […]
USD/CAD flirts with yearly highs around 1.3050
USD/CAD regains positive traction on Thursday and is back close to the yearly high. Expectations of an aggressive Fed rate hike continue to benefit the USD and offer some support to the pair. A further drop in oil prices weighs on the CAD and provides an additional boost to the pair. The pair USD/CAD has […]
GBP/USD Price Analysis: Ascending triangle breakout targets 1.2158
GBP/USD remains near two-year lows due to risk aversion and UK growth woes. GBP/USD confirmed a breakout of the ascending triangle on the 4-hour chart on Wednesday. Bears brace for further decline towards pattern target of 1.2158. The GBP/USD trades back below 1.2200 after a temporary pullback to near the 1.2230 area as disappointing UK […]
Copper falls 4% and threatens to break below $4
The price of copper resumes its falls due to a climate of risk aversion and fears about world demand. Copper (Comex) threatens to break the $4,000 level, on the LME it breaks the $9,000 level. Investors seek refuge in the US dollar. Copper has resumed its downward momentum after a temporary rebound on Wednesday. The […]
WTI falls over 2% to test $101.50 as risk aversion intensifies
WTI price is reversing the previous bounce as it falls to test the $101.50 level. A firmer dollar and risk aversion flows weigh on higher yielding US oil. WTI sellers remain expectant after the dismal monthly report from the IEA. The WTI (NYMEX futures) is trading under strong selling pressure so far on Thursday, reversing […]
AUD/USD consolidates its recent drop to a two-year low and remains below 0.6900
AUD/USD witnesses a strong sell-off on Thursday and sinks to a near two-year low. Expectations of an aggressive Fed rate hike continue to support the USD and put downward pressure on the pair. Recession fears also benefited the safe-haven USD and pushed flows away from the perceived riskier AUD. The pair AUD/USD appears to have […]
USD/JPY dips below 128.50 to 2-week low amid risk-off
USD/JPY has been under intense selling pressure on Thursday and has fallen to a two-week low. Risk-off sentiment benefits safe-haven JPY and puts pressure amid falling US bond yields. Expectations for an aggressive Fed rate hike continue to benefit the USD and could offer support to the pair. The pair USD/JPY has seen aggressive selling […]
IEA downgrades oil demand growth forecasts for 2022 by 70,000 bpd
In its monthly report on the oil market, the International Energy Agency (IEA) has revised down the growth projections for oil demand for this year by 70,000 bpd due to the closure of China and high prices. Additional comments Refinery operations will increase by 4.7 million bpd between now and August, but market stress will […]
