2020

Shares in German banking giant Commerzbank are trading 4.5% higher pre-market on Thursday. This comes following a better than expected Q2 earnings report yesterday. Commerzbank reported Q2 earnings per share of $0.18. This was versus…
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The current GBPUSD formation hints at a triple zigzag pattern. It consists of five primary waves Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ. At the time of writing, we see the development of a simple zigzag in wave Ⓩ. Intermediate sub-waves (A) and (B) are complete,…
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Continued Woes Weigh On the Greenback The US index closed below 92 on Wednesday as sentiment remains negative over the contraction of the US economy. The ADP missed expectations on the number of private-sector jobs in the US. The figure…
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Crude Inventories Fall Again The latest report from the Energy Information Administration this week has helped further the cause of oil bulls. The EIA reported that in the week ending July 31st, US crude oil inventories fell by 7.4 million…
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The precious metal continued with its bullish onslaught on Wednesday. After breaking the $2000 threshold earlier, gold prices continued higher. Intraday prices saw gold rising toward the 2050 level before making a modest pullback. The…
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Oil prices managed to gather some bullish momentum on Wednesday. Prices rose over 3% intraday as WTI crude oil breached past the 42.00 handle eventually. The gains come amid a hawkish inventory report for the commodity. Still, doubts…
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The British pound sterling managed to recover from the brief weakness. Price reversed losses around the trend line to push back higher. With the 1.3122 level now being tested, further gains are likely. However, the Stochastics oscillator…
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The common currency resumed its bullish momentum after a brief consolidation near the 1.1750 handle. With support firmly established, EURUSD is back trading close to the 1.1900 level, marking the July 31 highs. A close above this…
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Exxon Shares Following Earnings Report Shares in Exxon Mobile are trading higher by 2.89% pre-market on Wednesday. Price is enjoying a firm 8% rally following the company’s Q2 earnings report at the end of last week. Exxon reported…
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This time around, it might just be that the non-manufacturing PMIs are more important than the manufacturing ones. The coronavirus pandemic has affected the whole economy, of course. However, retailers bore the brunt of the economic…
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