Author: FX
When tensions flare in the Middle East, traders hold their breath. When a ceasefire breaks through, markets exhale. So it’s no surprise when the Gaza War ceasefire between Israel and Hamas ended two years of tragic conflict, it sent immediate ripples across global markets, most notably in oil & gold prices. Let’s quickly break it all down into simple terms, and see what it may mean for the markets in the short-term. What Just Happened? Israel and Hamas have signed a ceasefire agreement after two years of conflict that rattled energy markets and drove geopolitical risk higher. The deal includes…
I don’t know if I am a finalist for the position or notThere was nothing political about the interview”It was all serious economics”There have been shutdowns before, there is a lot of private sector data to rely onPieces of data are all telling the same story now, that the labour market is not doing greatADP data is consistent with where BLS data was heading, that is towards negative jobs growthCPI data will help a lot in the coming meetingTariffs effect on inflation is a one-time change and can be looked throughIf inflation goes up and comes back down, it should…
LME Copper has surged past the upper boundary of its prolonged consolidation phase, setting its sights on the 2024 peak near 11,100. While a brief consolidation cannot be ruled out, momentum indicators show no clear signs of reversal. Holding above support at 10,590 would keep the uptrend intact, opening the way for further gains toward 11,470 and 11,920, Société Générale’s FX analysts note. Momentum builds as Copper extends rally above range”LME Copper crossed the upper band of its long consolidation resulting in a steep up move. It is inching towards 2024 high of 11100. A brief pause cannot be ruled…
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GBPUSD slips again as bears stay in control, trading near 1.3295 after failing to hold mid-channel resistance. The pound remains under pressure within its descending structure, with next supports eyed at 1.3207, 1.3141, and 1.3077. investingLive Exclusive 8m ago Source link
Gold prices fell in Saudi Arabia on Friday, according to data compiled by FXStreet. The price for Gold stood at 477.57 Saudi Riyals (SAR) per gram, down compared with the SAR 479.59 it cost on Thursday. The price for Gold decreased to SAR 5,570.28 per tola from SAR 5,593.84 per tola a day earlier. Unit measureGold Price in SAR1 Gram477.5710 Grams4,775.70Tola5,570.28Troy Ounce14,853.97 FXStreet calculates Gold prices in Saudi Arabia by adapting international prices (USD/SAR) to the local currency and measurement units. Prices are updated daily based on the market rates taken at the time of publication. Prices are just for…
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It’s a battle of the comdolls! AUD/CAD is fast approaching a key technical resistance area on the 4-hour time frame. Will the pair stick to its pattern? Or will we see a breakout in the next trading sessions? AUD/CAD 1-hour Forex Chart by TradingView Higher gold prices and an improvement in market risk sentiment are pushing the Australian dollar higher against its Canadian counterpart so far this week. But the Loonie might still draw some support from stronger U.S. dollar demand, even as commodity-linked currencies take a hit from falling oil prices after the Israel-Hamas peace deal. Remember that directional…