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The German Ifo Business Climate Index remained unchanged at 89.3 in May, falling short of the forecasted 90.4, heightening concerns about a slowdown in the economic recovery of Europe’s largest economy. The weaker-than-expected…
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The dollar traded within a narrow range during the Asian and early European sessions on Monday, but the near-term outlook remains bearish. This is influenced by Friday’s 0.3% drop and the formation of a bearish engulfing pattern…
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Gold prices edged higher in early trading on Monday following last week’s 5% pullback from a new record high, finding solid support at $2327/25, the top of the thick rising daily Ichimoku cloud. Partial profit-taking lifted the…
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Cable showed resilience despite the positive US PMI data on Thursday and disappointing UK retail sales figures on Friday. It managed to climb above the 1.2700 mark during US trading on Friday. The pair is set for its second consecutive…
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AUDUSD creeps higher on Friday as traders take profits from the recent four-day decline. Today's uptick marks the first gain of the week, although the pair is still set for a weekly loss exceeding 1%. Technical indicators on the daily…
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WTI crude oil prices continue their downward trajectory for the fourth consecutive day, pressing against a fresh three-month low of $76.42 established in the previous session. Short-term market sentiment took a hit following the release…
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The Euro gained traction, bouncing back by 0.3% after repeatedly finding support at the 100DMA (1.0814) following a pullback from the May 16 high of 1.0895. This formed an initial signal of a double-bottom pattern, suggesting a potential…
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Gold prices remain in the red for the third consecutive day, hitting their lowest point since May 15 during the early European session on Thursday, extending Wednesday’s 1.75% drop. The Fed minutes, released late Wednesday, indicated…
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The minutes from the US Federal Reserve's April 30 / May 1 FOMC policy meeting indicate that policymakers expect price pressures to continue easing, moving towards the 2% target in the coming months. Recent inflation data…
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Bullish momentum persists, with initial targets set at 156.78 (the high on May 14) and 157.01 (the Fibonacci 61.8% retracement level of the correction from 160.19 to 151.85). The pair reached a new weekly high on Wednesday,…
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