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Markets Chinese stock markets eventually closed 2% to 3% higher, giving the benefit of the doubt to further steps to support the property sector and hints at greater borrowing announced by Finance Minister Lan Fo’an on Saturday. Beijing didn’t disclose a headline figure, but measures got the thumbs up for now. The Chinese yuan failed […]

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19/02/2024

EURUSD Wave Analysis

EURUSD reversed from support level 1.0730 Likely to rise to resistance level 1.0850 EURUSD currency pair recently reversed up from the support level 1.0730 (previous monthly low from December), intersecting with the lower daily Bollinger Band and the 61.8% Fibonacci correction of the upward impulse from October. The upward reversal from the support level 1.0730 […]
02/05/2024

US: Manufacturing Slips Back into Contraction in April, But Price Pressures Pick Up

The ISM Manufacturing Index slipped back into contractionary territory in April, dipping to 49.2, from 50.3 in March. Even so, 9 of 16 industries reported growth in April – the same as in March. Demand softness was reflected by the new orders and new export orders sub-indices both flipping back into contraction, after pointing to […]
08/01/2024

Gold Meets Uptrend Line in Negative Mode

Gold eases beneath 20-day SMA MACD and stochastic indicate more losses Gold is challenging the medium-term ascending trend line near 2,030 after the sell-off that started from 2,088. The crucial support level for traders to have in mind is the 38.2% Fibonacci retracement of the upward wave from 1,810 to 2,145 at 2,016, where the […]