Market Overview - Page 104

Gold dynamic reverses smoothly on the daily charts, setting up a double-bottom formation. Gold is forming a local uptrend after touching the lows near $1680 at the very beginning of the month. The daily charts show that the area near.

China is at the other end of the spectrum, while the developed world is facing the highest inflation rate in two generations. The published CPI and PPI data for August marked another drop in inflationary pressures and fell well below.

The European Central Bank, at the end of its regular meeting, raised the interest rate by a record 75 points after increasing it by 50 in July. The move was almost entirely priced into the debt market, as Bank officials.

Oil broke a major support line on Wednesday, falling to its lowest since January. The significance of the breakout is further underlined by its strength, with an intraday drop of more than 6%. Oil prices fell right below the highs.

Brent and WTI spot prices are now lower than they were before the surprise from OPEC. The cartel yesterday surprised markets with a recommendation to cut oil production quotas by 100,000 BPD from October. The move is small but symbolic..

The Japanese yen is renewing 24-year lows against the dollar, and so far, policymakers have no safe tools to stop this decline. The USDJPY was above 141 on Tuesday morning, last seen in the first half of 1998. At the.

The US economy has created 315k new jobs, just above the forecasted 295-300K. The total number of employed people has surpassed the pre-pandemic highs with 152.7M. But, considering the natural population growth, the market is still not as tight as.

The dollar index rose above 110, updating 20-year highs on Monday morning as a flash reaction to increased pressure on the euro and British pound. European currencies are selling off amid an energy crisis related to Russian gas supplies, which.

Another euro zone’s inflation report is noticeably above analysts’ expectations. Eurozone data published on Friday afternoon showed producer price growth of 4% for July and 37.9% year-on-year. At the same time, analysts had expected a 2.5% m/m increase and a.

The gold price dipped below $1700 on Thursday, approaching the lower boundary of its trading range since May 2020. Gold has been finding buyers after emotional dips towards the lower boundary throughout this period. Perhaps the main reason for the.

The fall in the single European currency has paused after briefly touching the 0.99 level earlier this month. As in July, the momentum of the EURUSD decline has sparked a resurgence of verbal interventions. Judging by the tone of recent.

The value of US durable goods orders (DGO) for July was almost unchanged, against an expected 0.9% rise. It is also worth bearing in mind that an overly steep jump in June could cause July’s sluggishness. Moreover, the core metric.