Core consumer prices in Japan slowed down in July, reinforcing expectations that the Bank of Japan will not rush to abandon its monetary easing policy, even though inflation remains above the bank’s target level.
Cisco’s stock jumped over 3% on Thursday, marking its highest closing in 16 months. The company added around 7 billion dollars to its market value in a single day. Meanwhile, Pfizer’s stock rose by 2.9% on Thursday, recording its highest daily gains in about 3 months.
The dollar continues its upward momentum with ongoing support from economic data, following a report from the Department of Labor that showed a decrease in unemployment claims last week.
The dollar is currently trading near its pivotal point at 103.20 dollars.
| Resistance level | Support level |
| 103.55 | 103.00 |
| 103.80 | 102.70 |
| 104.10 | 102.45 |
Gold prices retreated to their lowest levels in months as the dollar continued to strengthen. Additionally, yields on 10-year Treasury bonds kept rising, reaching their highest level since October 2022, which added pressure on gold.
Gold is currently trading near its pivotal point at $1893 per ounce.
| Resistance level | Support level |
| 1899 | 1881 |
| 1910 | 1874 |
| 1918 | 1863 |
US indices extended their losses for the third consecutive day in yesterday’s session, pressured by healthcare sector stocks and lingering concerns about a potential interest rate hike in the upcoming September meeting.
The Dow Jones index declined by 0.8%, equivalent to around 290 points, losing the 35,000 point level and closing at its lowest point in a month. The S&P 500 index also dropped by 0.77%, marking its lowest closing in 7 weeks. The Nasdaq Composite index fell by 1.2%, bringing its total decline to 2.4% since the beginning of the week, heading for its third consecutive weekly loss.
| Resistance level | Support level |
| 34815 | 34360 |
| 35110 | 34200 |
| 35265 | 33910 |
Oil prices rose on Thursday after three consecutive sessions of decline, following the efforts of the Chinese central bank to support the real estate market and the economy in general.
Brent crude futures increased by 67 cents or 0.8% at settlement, reaching $84.12 per barrel. Meanwhile, West Texas Intermediate (WTI) crude, the American benchmark, rose by $1.01 or 1.3% to $80.93 per barrel.
| Resistance level | Support level |
| 80.55 | 78.55 |
| 81.55 | 77.55 |
| 82.60 | 76.55 |
All investments entail risks and can result in both profits and losses. Leveraged products, in particular, may not be appropriate for all investors as the effect of leverage is that both gains and losses are magnified. Before deciding to invest in any financial product, you should carefully consider your investment objectives, financial knowledge and experience and affordability as the prices of leveraged products may change to your disadvantage very quickly, it is possible for you to lose more than your invested capital and you may be required to make further payments.
The Asian session refers to the period of time when the Asian markets are open.…
Strengthening Credibility: STARTRADER Secures SCA License In a significant advancement, STARTRADER has secured the SCA…
https://www.youtube.com/watch?v=9SsCbl5tIxA Global Markets at a Glance US tariffs are sending ripples through global markets—here’s the…
Recent data shows a sobering fact: over 70% of retail traders in India lost money…
This website uses cookies.