Oil Price Accelerates Lower as Global Inventories Hit Record
WTI oil fell sharply and hit session low at $68.36, coming under pressure after monthly report from International Energy Agency showed surge in OPEC production, with global oil inventories hitting record high. Global supplies reached record of hundred million barrels...
GBPJPY Posts 6-Week High, Increasingly Challenges Bearish Medium-Term Picture
GBPJPY staged a spectacular comeback after falling to its lowest since August 2017 of 139.88 in mid-August. The pair is currently trading more than 600 pips above the aforementioned nadir, having risen to a six-week high of 146.19 earlier on...
GOLD: Bounces Off Lower Prices With Eyes 1,206/14.00 Zone
GOLD: The commodity looks to follow through higher on the back of its Tuesday price rejection. This has opened the door for more recovery higher. On the downside, support comes in at the 1,190.00 level where a break will turn...
Loonie Extends Strong Rally against Hreenback
The pair resumed descend in early hours of US session after holding within narrow consolidation during European trading. Fresh weakness comes as extension of previous day’s strong fall, sparked by optimistic tone about NAFTA agreement talks. The loonie’s bullish sentiment...
Oil Advances Further after US Crude Stocks Fell Below Expectations
WTI oil accelerated higher after US weekly crude stocks data showed much stronger than expected fall in oil inventories. Weekly stocks fell by 5.29 million barrels, vs 1.3 million barrels draw forecasted and also overshot previous week’s 4.3 million barrels...
USDJPY Outlook: Accelerates Lower after Repeated Failure at Cloud Top; Weak US Data Helped
Weakness after another failure at daily cloud top (Tuesday’s rally closed above cloud and peaked at 111.65 and high was retested today before reversal) extended in early hours of US trading on Wednesday. Weaker than expected US PPI data (Aug...
Market Morning Briefing: Aussie Dipped Below 0.71 Yesterday To A Low Of 0.7085
STOCKS Overall global stocks could turn bullish in the medium term. Dow, Dax and Nifty could soon test immediate support levels from where a bounce could be expected. Shanghai looks strongly bearish amongst the other indices mentioned. Nikkei could trade...
AUD/USD Is In Significant Downtrend Below 0.7250
Key Highlights The Aussie dollar declined recently and broke the 0.7180 support against the US Dollar. There is a major bearish trend line in place with resistance at 0.7135 on the 4-hour chart of AUD/USD. The NFIB Business Optimism Index...
The Pound Is Trading Higher
The British Pound feels confident against the USD this week and continues rising. One thing that supported the British currency was the Brexit news, which is very positive: the parties are finally moving in the right direction in discussing trade...
EU 50 Index Turns Bearish in Short-Term; Lacks Direction in Long-Term
The EU 50 stock index has declined considerably after touching the 3460 resistance level, recording two straight bearish weeks. On Friday, the price posted a five-month low of 3274.70, while it is currently not far above that nadir. The momentum...
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