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Archive for August, 2023

Banking Capital Markets Forex Technical Analysis
August 28, 2023
By admin

EUR/USD gains through the 1.0800 mark, investors await Eurozone CPI, US NFP

The EUR/USD pair reclaims the 1.0800 area but remains under pressure as the pair posts a weekly close in negative territory for the fifth consecutive day. The hawkish stance from the European Central Bank (ECB) fails to boost the Euro against its rivals despite the weaker Eurozone economic data. The major pair currently trades near 1.0808, up 0.10% on […]

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Capital Markets Commodities Technical Analysis
August 28, 2023
By admin

WTI Price Analysis: Oil buyers stay hopeful beyond $77.80 despite pullback from 13-day-old resistance

WTI crude oil remains mildly offered near $79.80 as it takes a U-turn from a two-week-old resistance line to print the first daily loss in three heading into Monday’s European session. In doing so, the Black Gold also justifies the bearish MACD signals while struggling to cheer the softer US Dollar, as well as China-inspired […]

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Capital Markets Forex Technical Analysis
August 28, 2023
By admin

AUD/USD sticks to intraday gains around 0.6425-30 area, upside potential seems limited

The AUD/USD pair regains positive traction on the first day of a new week and climbs to the 0.6430 area during the Asian session, snapping a two-day losing streak. China on Sunday announced that the levy charged on stock trading will drop from 0.1% to 0.05% from August 28 – marking the first reduction since […]

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Banking Capital Markets Forex Technical Analysis
August 28, 2023
By admin

EUR/JPY extends its upside above the 158.30 area, eyes on Eurozone CPI, ECB meeting minutes

The EUR/JPY cross extends its upside for the third consecutive day in the Asian session on Monday. The cross currently trades around 158.35, gaining 0.17% on the day. At the Jackson Hole Symposium, European Central Bank (ECB) President Christine Lagarde stated that the battle against inflation is not yet won. She emphasized the importance of central […]

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Banking Forex Technical Analysis
August 28, 2023
By admin

USD/JPY consolidates its gains around 146.50 on the Fed’s Powell hawkish stance

The USD/JPY pair consolidates its recent gains below the mid-146.00s during the early Asian session on Monday. The pair trades close to the highest level since November 2022 of 146.62, which was reached on Friday. The divergence in monetary between the Federal Reserve (Fed) and the Bank of Japan (BoJ) boosts the Greenback, but the possibility of […]

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Capital Markets Commodities Technical Analysis
August 25, 2023
By admin

Crude Oil Futures: Recovery has further legs to go

CME Group’s flash data for crude oil futures markets noted traders added around 6.3K contracts to their open interest positions on Thursday, reversing at the same time the previous daily drop. Volume followed suit and increased for the second straight session, now by around 64.6K contracts. WTI: Decent support emerges just below $78.00 Prices of WTI left […]

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Banking Capital Markets Forex Technical Analysis
August 25, 2023
By admin

Chart of The Day

Speech from Jerome Powell at Jackson Hole Economic Symposium is a key event of the day, and a week as well. Fed Chair is scheduled to begin his speech at 3:05 pm BST today. There is a feeling that his speech may be a non-event. After all, there are still two crucial pieces of data […]

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Banking Capital Markets Economic Finance Forex Technical Analysis
August 25, 2023
By admin

EUR/GBP consolidates its gains around 0.858, eyes on ECB’s Lagarde speech

The EUR/GBP cross oscillates in a narrow trading range around 0.8580 heading into the early European session on Friday. Traders prefer to wait on the sidelines ahead of the European Central Bank (ECB) President Christine Lagarde’s speech at the Jackson Hole annual symposium later in the day.  The German Gross Domestic Product (GDP) QoQ for the second quarter remained […]

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Banking Finance Forex
August 25, 2023
By admin

USD/TRY: Lira pares CBRT-led gains above 26.00 with eyes on Fed Chair Powell’s speech

USD/TRY picks up bids to 26.20 as it consolidates the biggest daily loss since 2021 while bouncing off the two-month low marked the previous day amid early Friday morning in Europe. In doing so, the Turkish Lira (TRY) pair reverses the previous day’s heavy fall due to the bigger-than-expected rate hike from the Central Bank […]

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Capital Markets Commodities Finance Technical Analysis
August 25, 2023
By admin

Gold Futures: Further upside not ruled out

Open interest in gold futures markets rose for the second session in a row on Thursday, this time by just 969 contracts according to preliminary readings from CME Group. Volume, instead, kept the erratic performance and shrank by around 36.5K contracts. Gold: Provisional hurdle emerges around $1930 Gold prices rose marginally on Thursday and once again […]

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