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Capital Markets Commodities Technical Analysis
September 5, 2023
By admin

Oil Hits $90 as Saudi Extends Cuts

Brent and WTI rally as supply cuts are extended Brent (OIL) and WTI (OIL.WTI) surged over 1.5% following the output announcement from Saudi Arabia. The Kingdom announced that it will extend the current 1 million barrel output cut for 3 months, until the end of the year. This announcement comes as a surprise – while […]

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Commodities Precious Metals Technical Analysis
September 5, 2023
By admin

Silver Price Analysis: XAG/USD plummets to two-week low, bears flirt with 50% Fibo.

Silver prolongs last week’s rejection slide from the $25.00 psychological mark, or over a one-month peak and continues to lose ground for the fifth successive day on Tuesday. The downfall remains uninterrupted through the early European session and drags the white metal to a two-week low, around the $23.65 region in the last hour. From a […]

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Capital Markets Commodities Precious Metals Technical Analysis
September 1, 2023
By admin

Gold Futures: Further gains in store near term

CME Group’s flash data for gold futures markets noted traders trimmed their open interest positions by around 4.3K contracts after two consecutive daily builds on Thursday. Volume followed suit and shrank for the second session in a row, now by around 11.3K contracts. Gold faces the next up barrier above $1950 Thursday’s small downtick in gold prices […]

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Capital Markets Commodities Energy Commodities Technical Analysis
September 1, 2023
By admin

Crude Oil Futures: Extra upside favoured near term

Open interest in crude oil futures markets resumed the uptrend on Thursday and went up by around 29.1K contracts. In the same line, volume increased for the third straight session, now by around 367.3K contracts. WTI targets the 2023 high near $85.00 WTI prices extended the multi-session rally on Thursday and closed above the $83.00 mark […]

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Commodities Forex Precious Metals Technical Analysis
September 1, 2023
By admin

Gold Price Forecast: XAU/USD remains below $1,950 level as traders keenly await US NFP

Gold price attracts fresh sellers following an Asian session uptick to the $1,944 region on Friday and hits a fresh daily low in the last hour, albeit lacks follow-through. The XAU/USD currently trades just below the $1,940 level, nearly unchanged for the day, as traders keenly await the closely-watched monthly employment details from the United […]

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Capital Markets Commodities Energy Commodities Technical Analysis
August 31, 2023
By admin

Natural Gas Futures: Corrective move in the pipeline

CME Group’s flash data for natural gas futures markets noted traders scaled back their open interest positions by more than 5K contracts on Wednesday, partially reversing the previous daily build. In the same line, volume dropped for the second consecutive session, now by around 25.4K contracts. Natural Gas remains capped by $3.00 Prices of natural gas extended […]

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Banking Capital Markets Commodities Precious Metals Technical Analysis
August 31, 2023
By admin

Gold Price Forecast: Fed inflation may hinder XAU/USD bulls’ approach to $1,970 – Confluence Detector

Gold Price (XAU/USD) holds steady at the highest level in four weeks during a four-day winning streak as market players await the key inflation clues from the US and Eurozone. That said, the recently downbeat US data have raised concerns about the Federal Reserve’s (Fed) policy pivot and bolstered the XAU/USD price. On the same […]

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Capital Markets Commodities Energy Commodities Forex Technical Analysis
August 31, 2023
By admin

WTI struggles above $81.00 despite huge US Oil inventory draw, fears from Idalia, Saola

WTI crude oil lacks clear directions while making rounds to $81.30–40 heading into Thursday’s European session, snapping a two-day winning streak with mild losses. In doing so, the black gold portrays the market’s cautious mood ahead of the key US inflation and employment clues while ignoring the heavy inventory draw and supply-crunch fears emanating from […]

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Capital Markets Commodities Technical Analysis
August 30, 2023
By admin

Gold Price Forecast: XAU/USD flat-lines around $1,930 amid Fed’s soft-landing hopes, US key data eyed

Gold Price (XAU/USD) struggles to gain around $1,935 during the early European session on Wednesday. The weaker US dollar and a sharp drop in US Treasury yields drags the Greenback lower across the board. Meanwhile, the US Dollar Index (DXY) edges lower to 103.55 while the 10-year yield fell from 4.20% to 4.14%, near the lowest level […]

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Banking Capital Markets Commodities Energy Commodities Forex Technical Analysis
August 30, 2023
By admin

USD/CAD looks to regain 1.3600 despite firmer Oil price as US Dollar rebounds ahead of key data

USD/CAD consolidates the biggest daily loss in a month while posting mild gains around 1.3575 ahead of Wednesday’s European session. In doing so, the Loonie pair prints the first daily run-up, so far, despite upbeat prices of Canada’s main export item, namely the WTI crude oil. The reason could be linked to the US Dollar’s recovery ahead […]

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