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12.12.2024
Brent crude prices rose by 3.0% to $73.48 per barrel this week, recovering from a support zone at $69.00-71.00 per barrel. While this bounce offers a slight safety margin, it does not eliminate the risk of a sharp decline toward $60.00 per barrel. The technical outlook remains bearish, as the recovery attempts are becoming increasingly short-lived, signaling intensifying pressure on oil prices. A decisive move above $76.00 per barrel is necessary to improve the chances of an upside scenario and mitigate the risk of a drop to $59.00-61.00 per barrel.
10.12.2024
The U.S. Dollar Index (DXY) is up 0.19% this week, reaching 106.27 points, while the EURUSD pair is down 0.20% to 1.05370. The pair has repeatedly failed to break above the 1.05400-1.05600 resistance zone. However, its continued higher lows suggest an "ascending triangle" pattern, often indicative of a potential upside breakout. While this is worth noting, the situation remains inconclusive for now. The WisdomTree Bloomberg US Dollar Bullish Fund (USDU) showed neutral capital flows last week after $7.
05.12.2024
Gold prices have remained neutral at $2,644 per troy ounce this week, with the market appearing to pause ahead of an anticipated sharp move. The potential for a correction toward $2,300–$2,500 or a surge to $3,100–$3,200 per ounce is backed by compelling arguments on both sides. Last week, geopolitical developments influenced gold prices significantly. The nomination of billionaire hedge fund manager Scott Bessent as Secretary of the Treasury by U.S. President-elect Donald Trump signaled potential tariff easing on China, calming investor fears.
03.12.2024
The U.S. Dollar Index (DXY) is gaining 0.45% to 106.22 points, while the EURUSD is down 0.51% to 1.05270. This follows last week’s 1.6% decline in the Dollar, which saw the EURUSD close at 1.05810. Despite recent volatility, the pair has managed to hold above the critical resistance at 1.05300-1.05500, keeping the bullish scenario toward 1.09500-1.10500 intact. A price gap at 1.05800 remains unclosed from Monday, and its resolution—particularly after Friday’s Nonfarm Payrolls—could signal a decisive move for the pair. Geopolitical factors are adding pressure on the Euro, as U.S.
28.11.2024
Brent crude oil is down 3.8% this week, trading at $72.35 per barrel and hovering near key support at $69.00–71.00 per barrel. This marks the fifth test of this level since mid-September and the third since late October, with the frequency of these attempts increasing. Each bounce from support has been weaker, signaling waning buyer interest and growing vulnerability to a breakdown. Should prices breach this level, a deeper decline toward $59.00–61.00 per barrel seems likely.
26.11.2024
The U.S. Dollar is weakening this week, with the Dollar Index (DXY) losing 0.63% to 106.83 points, while the EURUSD is rising by 0.9% to 1.05100. Last week, the EURUSD traded sideways around 1.05000 before the release of Eurozone business activity data. Manufacturing PMI fell to 55.2 points, below the consensus of 46.0, while Services PMI dropped into contraction territory at 49.2 points, down from 51.6 points. This disappointing data sent the Euro down by 1.6% to 1.03310 against the Dollar. In contrast, U.S. business activity has shown signs of improvement.
21.11.2024
Gold prices are up 4.0% this week, reaching $2,667 per troy ounce, marking their strongest weekly gain since late March. This rally has nearly erased the previous week’s record decline of 4.3%, a move not seen in the past three years. The earlier drop in gold was largely driven by hawkish comments from Federal Reserve Chair Jerome Powell, following an uptick in U.S. inflation data for October. Headline inflation rose to 2.6% YoY, while producer prices increased to 2.4% YoY, prompting Powell to state that there is no urgency to cut interest rates. This stance pushed U.S.
19.11.2024
The U.S. Dollar Index (DXY) is up 0.18% to 106.46 points, while EURUSD is rising, gaining 0.25% to 1.05560. The U.S. presidential election victory of Donald Trump halted EURUSD’s ascent at 1.09380, leading to a 1.0% decline last week to 1.07180. This downward trend extended with another 1.7% drop to 1.05270, driven by rising U.S. inflation and hawkish rhetoric from Federal Reserve (Fed) Chair Jerome Powell. October’s headline inflation increased to 2.6% YoY from 2.4%, while producer prices surged to 2.4% YoY from 1.9%.
14.11.2024
Brent crude oil prices have declined by 4.4% to $70.92 per barrel this week, though they have since partially recovered to $73.12. Prices have shown resilience since Wednesday, remaining within a broad trading range of $70.00-80.00. Downward pressure continues as the U.S. attempts to drive prices down from the $80.00 resistance level, while support comes from OPEC+ measures. With Donald Trump’s recent victory in the U.S. presidential election, this delicate balance may shift.
12.11.2024
The U.S. Dollar index (DXY) rose by 0.70% to 105.74 this week, while EURUSD fell by 0.86% to 1.06200, its lowest since April 22. The resounding victory of Republican Donald Trump was beyond expectations, even for his supporters. He won 312 electoral votes against Vice President Kamala Harris’s 226, marking a significant Democratic defeat, amplified by a Republican win in the Senate with 53 seats compared to the Democrats' 47, and a likely Republican victory in the House. Some believe no previous U.S. President has held such consolidated power post-election.
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