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The price for gold continued to surge, as it eventually managed to break the 1,825.00 mark and the December high level at 1,833.20. On Tuesday morning, the commodity price reached the 1,850.00 mark. However, as the US futures markets opened, major demand for the USD caused a decline of all commodities. By mid-day, the price had retraced to the 1,830.00
With the opening of the US futures market, the USD experienced major demand, which pushed the USD/JPY currency pair up to the combined resistance of the 131.00 mark and the 50-hour simple moving average. However, prior to the recovery the pair had reached the 129.50 level. A move above the 131.00 mark might encounter resistance in the 131.50 level, prior to
The opening of the US futures market caused major demand for the US Dollar, which beat down currency exchange rates. The GBP/USD sharply plummeted to the 1.1900 mark, where it found support. By mid-Tuesday it appeared that the weekly S1 simple pivot point and the 1.1940 level were acting as resistance. A move above 1.1940 might aim at the 1.2000 mark,
As the US futures markets started 2023 trading on Tuesday morning, the US Dollar strengthened. As a result the EUR/USD plummeted, as by 11:00 GMT, the pair had reached 1.0520. An extension of the ongoing decline might look for support in the weekly S3 simple pivot point at 1.0514 and the 1.0500 mark. Further below, note the December support levels
Global SWF have revealed that global sovereign wealth funds have suffered losses of $0.9 trillion and public pension funds have decline in value by $1.3 trillion.
The China Index Academy survey has revealed that home prices in China continued to decline in December, which marks a sixth consecutive month of price decreases.
The Chinese electric car producer BYD has announced that it would increase its prices. The price increase has been done due to a decrease of government subsidies.
In December, manufacturing in Spain continued to decline, despite an improvement compared to November. The S&P PMI index was at 46.4 in December, compared to 45.7 in November.
Most recently the price for gold has been finding support in the 1,815.00 level an resistance was encountered at 1,825.00. In the meantime, the pair was being approached from below by the 50, 100 and 200-hour simple moving averages near 1,810.00. Economic Calendar Analysis This week, on Wednesday, the US ISM Manufacturing PMI and JOLTS Job Openings could cause an adjustment in
The USD/JPY encountered resistance in the 134.50 level, before starting a broad decline. By the start of 2023, the pair had reached below 131.00 mark, which acted as resistance. Meanwhile, support appears to be provided by the December 20 low level at 130.57. Economic Calendar This week, on Wednesday, the US ISM Manufacturing PMI and JOLTS Job Openings could cause an adjustment
Since December 22, the GBP/USD currency pair has been trading between the support zone above 1.2000 and resistance above 1.2100. Namely, support is found in 1.2000/1.2025 and resistance at 1.2100/1.2125. Meanwhile, the pair has largely ignored the 50, 100 and 200-hour simple moving averages and the weekly simple pivot point. Economic Calendar This week, on Wednesday, the US ISM Manufacturing PMI and
The official Chinese Purchasing Managers Index has further declined, as the newest reading was at 47.0, which is down from 48.0 in Novembers.
During the holidays, the EUR/USD recovered and reached the 1.0700 mark. However, on January 2 the currency exchange rate traded below the round level. Meanwhile, support appeared to be provided by the combination of the weekly simple pivot point at 1.0671 and the 50-hour simple moving average. Economic Calendar Analysis This week, on Wednesday, the US ISM Manufacturing PMI and JOLTS Job
Most recently the price for gold has been finding support in the 1,815.00 level an resistance was encountered at 1,825.00. In the meantime, the pair was being approached from below by the 50, 100 and 200-hour simple moving averages near 1,810.00. A move above 1,825.00 level could encounter resistance in the December high level at 1,833.20. Higher above, note that the
The USD/JPY encountered resistance in the 134.50 level, before starting a broad decline. By the start of 2023, the pair had reached below 131.00 mark, which acted as resistance. Meanwhile, support appears to be provided by the December 20 low level at 130.57. A move below 130.57 could look for support in the 130.00 mark, the weekly S1 simple pivot point
Since December 22, the GBP/USD currency pair has been trading between the support zone above 1.2000 and resistance above 1.2100. Namely, support is found in 1.2000/1.2025 and resistance at 1.2100/1.2125. Meanwhile, the pair has largely ignored the 50, 100 and 200-hour simple moving averages and the weekly simple pivot point. A move below 1.2000 could look for support in the 1.1950
During the holidays, the EUR/USD recovered and reached the 1.0700 mark. However, on January 2 the currency exchange rate traded below the round level. Meanwhile, support appeared to be provided by the combination of the weekly simple pivot point at 1.0671 and the 50-hour simple moving average. A resumption of the surge would have to reach above 1.0700. Higher
On the first day of trading of 2023, European stock indices surged. The surge was mostly attributed to a rise in energy stock prices.
Chinese state planners have revealed that for the Chinese economy to continue to grow arduous efforts would be required, due to the slowdown of the global economy.
Ford has increased the base price of its F-150 electric truck to nearly $56,000. The price was increased by 9.00%, compared to the previous one.
Saudi Arabian Aramco and TotalEnergies have combined forces to construct a $11 billion factory in Saudi Arabia.
The Chinese electric carmaker BYD has announced that in 2023 it would launch a new electric vehicle brand.
Since the start of the war in Ukraine, the German energy bailout and subsidy scheme costs have reached a total of 440 billion Euros or $465 billion.
Citibank intends to decrease its consumer banking business in China by approximately 1,200 local employees.