Market Overview - Page 73

Gold has been sticking to support at the 50-day moving average since July 13th but has not found enough strength to break away from it. The markets tested the uptrend again last Thursday amid a wave of dollar strength. On.

According to Eurostat’s preliminary estimate, eurozone inflation slowed to 5.3% year-on-year in July. This is the lowest rate since January 2022 and aligns with analysts’ expectations. The core index stood at 5.5%, above the headline rate for the first time.

Oil has accelerated its gains over the past week, adding more than 20% to the lows of 28 June, when the latest rally began. Technical factors coming into play and excitement in the markets from robust macro data are adding.

The Fed raised its key rate by 25 bps to 5.25-5.50%. The upper boundary of this range is the highest in 22 years. The lower boundary corresponds to the plateau level at which the Fed held rates from July 2006.

After pausing at the last meeting, the Fed will announce its rate decision today with a widely expected 25-point hike to a range of 5.25%-5.50%. This event is 97% priced into interest rate futures, according to the FedWatch tool, and.

The US dollar has risen for the 6th consecutive session, weighing on gold. However, this corrective pullback now highlights gold’s internal strength. Over the last week, gold fell 1.2% to $1953, erasing the rally of the 18th. However, longer declines.

Crude oil rebounded on Monday after four weeks of gains. Today’s rise of 1.2% to $77.7 per barrel of WTI is not remarkable in terms of momentum, but it is noteworthy for its potential impact on the technical picture. At.

The single currency fell against the Dollar on Monday, dropping to 1.1070 following the release of weak economic data. After losing for five consecutive sessions, the EURUSD has given back almost half of its gains from the 6th to the.

The British Pound is losing ground for the 6th consecutive session, falling 2.2% to 1.2850. The downward movement began as a correction after a 9-sessions rally from 30 June but accelerated following the release of weak inflation data earlier in.

US retail sales rose 0.2% in June, weaker than the +0.5% expected. Year-to-date sales are up 1.5% versus 3% inflation over the same period, so it makes sense that consumer activity is slowing. Sales excluding cars also rose by 0.2%.

Gold returned to monthly highs near $1962 on Tuesday morning after consolidating around the 50-day moving average. All eyes are now on gold’s ability to break away from this line, a medium-term trend indicator. The upward move is well within.

Crude oil reversed sharply last Friday after rallying almost 15% from the lows at the end of last month. The short-term decline so far fits into a technical correction after the rally. However, looking at the broader trend, this reversal.