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Strong U.K Inflation Data Cheered – But Technicals Weigh – Will The Sterling Regain the 1.3 Handle?
GBPUSD snapped its streak of nine consecutive sessions of closing in the red thanks to the slump in the U.S dollar, and strongly positive hard data after the Brexit vote. The Sterling has registered the greatest daily gain since August 02nd following 12-year record inflation growth. This decade high reading released against the back drop
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Brent’s Sentiment Fueled By Potential Output Cut, But Bulls Should Exercise Caution
Oil carried forward its bullishness on Monday, extending the winning streak to three consecutive sessions after more and more signs of potential action by global oil producers to reduce output amid concerns over falling demand in 2017 and the comeback of U.S explorers and refiners. Month to date, crude prices have rocketed by more than
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FOMC Minutes Being Awaited As Equity Markets Near 2 Decade Highs
The Week That Was The week through August 12 witnessed some stock markets hitting 17-year highs along with a comeback by the crude price, on a potential freeze deal that could be reached next month, with the prospect of a re-balancing of the crude market. Most global equity markets closed the week in the green,
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GOLD Reverses Strongly On Weak U.S Data – Will the $1350 Level Hold?
Gold rallied nearly 200 pips, equivalent to 1.3% to $1355.56 per ounce troy after much-worse-than-expected data on U.S retail sales and producer prices. The precious metal has covered all of its losses from Thursday. Gold prices jumped sharply following data published by the Commerce Department that reported that U.S advance retail sales for July were
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Sentiment Weakens on Crude Following Mixed Data – Selling Rallies Suggested
West Texas Immediate crude was trading flat on Thursday after mixed data from the International Energy Agency and the fact that Saudi Arabia and Iran – two big oil exporters from the Organization of the Petroleum Exporting Countries – showed no willingness to reduce their output. In its monthly report published today, the IEA said
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Has the S&P500 Topped Out? Short Positions Recommended As Support Tested
The S&P 500 index is trading lower on Wednesday, giving up the record-high levels at 2186.95, attained yesterday as investors are taking a cautious attitude towards the equity market’s ability to stay at record highs against the background of global economic uncertainty and comparatively weak corporate earnings. The Energy sector is suffering the greatest losses
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