The US energy department announced on Friday that it will start repurchasing crude for the Strategic Petroleum Reserve - the first purchases since releasing a record 180 million barrels from the reserve this year in an effort to support the economy from increasing fuel costs. On the technical side we see the price continuing the…
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This should maintain significant pressure to those markets until the next earning season, which makes the short- to mid-term outlook for stocks difficult to assess. That said, a bullish leverage from China may provide a boost towards equities this week after Beijing abandoned its “Covid Zero” policy and pledged more growth in 2023. The STOXX-50…
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The report isn’t expected to show any major change compared with last month, but a number above or below the 10% mark could significantly impact market sentiment today. Technically speaking, the STOXX-50 index has already broken-out a major support at 3,850.0pts (23.6% Fibonacci) and now heads further down towards the next at 3,735.0pts (38.2%) before…
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On the technical analysis point of view the price is trading in a steady uptrend for the last month and it is currently at the $1.22800 area after finding resistance on the upper band of the Bollinger bands. With major economic news coming up and with the Stochastic indicator in the overbought level for almost…
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European Shares Shares opened on a mixed tone in Europe on Wednesday, following a bearish Asian trading session. While US futures also point to a weaker open as investors digest an uneven macro picture. The uncertainty brought by the latest batch of EU sanctions placed towards Russia is significantly impacting market sentiment this week, especially…
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European Shares Share markets fluctuated in Europe on Tuesday, following an Asian trading session closing on a mixed tone as positive sentiment from China offset uncertainties linked to the latest batch of US data. Traders continue to welcome the latest developments from China as Beijing continues to shift away from its zero-covid policy following its…
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On technical analysis we can observe that the price is trading in a strong uptrend for the last month. It is trading outside the upper band of the Bollinger bands indicating high volatility while the current trading area is a strong resistance consisting of the round number of $1800 and also the last resistance area…
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European Shares European stocks traded sideways at the beginning of the new trading week, while Asian shares closed higher overnight, as positive sentiment prevailed following reassuring developments in China. Risk appetite is on the rise on Monday and investors are driving equities and commodity-related markets higher after Beijing increased the prospect of higher demand from…
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European Shares Stocks in Europe extended the uncertain trend registered overnight in Asia, drifting slightly lower, as investors brace for today’s highly awaited US job report. This week’s optimistic tone brought by Fed chairman, Jerome Powell’s, less aggressive stance as well as the prospect of an economic reopening in China, is being tempered on Friday…
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European Shares European markets continued to climb on Thursday, extending gains registered by Asian shares overnight, as investors continue to cheer on major narrative changes. Risk appetite stays on the rise this week after investors witnessed Fed chairman Jerome Powell confirm a slowdown in further rate hikes, and stating an economic “soft landing” was becoming…
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