Crude Oil Stocks Change in the US was +2 million barrels in the week ending September 4th, the weekly report published by the US Energy Information Administration (EIA) revealed on Thursday. Analysts estimate was for a draw of 1.3 million barrels.
Crude oil's reaction to this report
GBP/NZD is over 1% lower on Thursday after more negative Brexit news.
The price is heading towards some key technical levels on the downside.
The UK government have announced they could be breaking international law if they change the treaty but the UK want Nothern Ireland in t
Portugal's foreign trade deficit narrowed in July, amid declines in both exports and imports, figures from Statistics Portugal showed on Wednesday.
The trade deficit fell to EUR 716 million in July from EUR 1.86 billion in the same month last year. In June, the deficit was EUR 836 million.
U.K. stocks were subdued on Wednesday as traders turned their attention to Thursday's Jackson Hole meeting, during which Fed Chair Jerome Powell is expected to give details on the Federal Reserve's framework review.
The benchmark FTSE 100 was down 2 points at 6,035 after losing 1.1 percent in the pr
This pair formed a lower high last week before finally crashing through the kumo and closing below it. We are on the verge of a bearish kumo twist, and chikou span is below price with plenty of room down below. I am watching for a break of this recent price structure at th
Photo: Finance Magnates
Fintech payment services company FXPress Payment Services Limited announced this Tuesday that it has entered into an agreement to acquire Avila House Limited, subject to regulatory approval.
Avila House is a licensed Small Electronic Money Institutional. Under the agreement
NZD/USD prints four-day losing streak with the latest one defying bounce off 0.6571.
Local virus transmission in New Zealand, strong US dollar weighed on the pair off-late.
Market sentiment remains heavy amid uncertainty over US stimulus, Sino-American tussle and coronavirus woes.
RBNZ is expected t
Photo: Finance Magnates
The National Futures Association (NFA), the self-regulatory organisation for the U.S. derivatives industry, recently announced that it has ordered Gautam Prakash, formerly of Monsoon Capital LLC, to not reapply for membership for seven years.
In particular, the US regulator
US DOLLAR INDEX
The dollar index fell to new two-year low (93.32) on Wednesday, signaling that brief consolidation is over and bears re-take full control. Dollar's steep fall broke below major Fibo support at 94.12 (61.8% of 88.14/103.80) this week and also penetrated the top of thick monthly cloud
EUR/USD and EUR/GBP upside bias
Broad dollar weakness has been supporting the EURUSD rise lately. The EURUSD can be known as the ‘anti-euro’ index due to its strong EUR component of the Dollar Index. As a result, they have a strong negative correlation. When the Dollar Index falls the EURUSD rises a
Sustained USD selling bias assisted GBP/USD to build on last week’s strong positive move.
The positive momentum seemed rather unaffected by renewed fears of a no-deal Brexit.
Investors now look forward to the US Durable Goods Orders data for some trading impetus.
The GBP/USD pair built on last week
EUR/USD keeps pushing higher and tests 1.17 and beyond.
Attention now shifts to the September 2018 highs above 1.1800.
EUR/USD recorded new 22-month peaks in the 1.1720 region earlier on Monday, extending the upside momentum for yet another session.
While overbought conditions might spark some corr
Euro Settles Into A Fresh Two Year High
The common currency closed the week with one of the strongest gains in over a month, closing at 1.1655. It also marks a fifth consecutive weekly gain.
Looking at the long term charts, price is now trading in the resistance area between 1.1600 and 1.1741.
Gold has been extending its relentless rise, hitting a new near-year high of $1,880.11at the time of writing. Monetary and fiscal stimulus have both been driving the precious metal higher. What are the next levels to watch on XAU/USD?
The Technical Confluences Indicator is showing that the next hu