Market Overview - Page 89

Gold continues to test the bottom and today fell back below $1810. Since the beginning of February, the dynamics suggest an almost perfect reversal of the uptrend, where the initial sharp pullback on the 2nd and 3rd was followed by.

Money supply and lending in the eurozone are slowing faster than expected, indicating an imminent economic contraction. Data released on Monday morning pointed to a slowdown in new lending, coinciding with the start of the euro zone’s interest rate hike.

Oil remains stubbornly stuck in a sideways range despite the dollar’s rally and other risk assets’ retreat over the past week and a half, with weekly production and commercial inventory data painting a relatively contradictory picture. US commercial crude inventories.

Consumer prices in Japan continue to rise steadily, but this is of little concern to the central bank – a brutal combination for the Yen, which could repeat last year’s alarming decline. Japan’s CPI rose 0.5% in January, the 15th.

Weekly jobless claims in the US were once again better than expected. This further confirms that the economy remains in a state where domestic inflationary pressures are building up, requiring the Fed to go further than expected. Initial jobless claims.

The Dollar Index has risen 3.8% to 104.5 from its lows in early February. Prior to that, the dollar index had been falling since late September, giving back half of the gains from the global rally triggered by the Fed’s.

After losing more than 2.4% on Tuesday, the Nasdaq100 index has returned to the level from which it began February, near 12000. Apart from the nice round level, the 200-day moving average and local resistance from November and December are.

The Reserve Bank of New Zealand hiked its cash rate by 50 points to 4.75% early in the day. The rate has been raised by 425 points over the last ten meetings since October 2021, the sharpest uninterrupted hike in.

US existing home sales fell by 0.7% to 4.0 million in January. Although this is a nominal decline, it was the 12th consecutive month of falling sales. Sales fell below the pandemic low and were the lowest since October 2010,.

Preliminary UK business activity figures for February surprised on the upside, sending the Pound into a mini rally of 1% within half an hour of publication and supporting prices later in the day. The Manufacturing Business Activity Index climbed from.

Gold has lost more than 6.5% from its early February highs, correcting the November-January rally. Now it’s time to decide on the next trend. The coming days should show whether we will see a new wave of growth in gold.

For the third month, oil has barely moved out of its wide range of $73-82 for WTI barrel and $78-88 for Brent. This is not a balance and equilibrium of supply and demand forces but a tug of war. This.