British Pound: USD/GBP (GBP=X) continues to decline from 76.4% resistance

British Pound: USD/GBP (GBP=X) continues to decline from 76.4% resistance GBP/USD has been weakening consistently since hitting the 76.4% resistance level of $1.30. Whether this is simply another short-term retracement or the beginning of a wider bearish shift for the pair remains to be seen. However, with a minimal rebound this morning being sold into straight…

United States Oil (USO) prices are being supported by supply cuts led by the Organization of the Petroleum Exporting Countries (OPEC)

United States Oil (USO) prices are being supported by supply cuts led by the Organization of the Petroleum Exporting Countries (OPEC) Oil prices rose to their highest for 2019 on Monday after data showed refinery processing in China, the world’s second-largest oil consumer, climbed to a record in 2018, despite a slowing economy last year.…

Australian Dollar: USD/AUD (AUD=X) tone changed from short-term bullish to short-term bearish

Australian Dollar: USD/AUD (AUD=X) tone changed from short-term bullish to short-term bearish The tone changed from short-term bullish to short-term bearish last week when U.S. Treasury yields started to rise. This helped make the U.S. Dollar a more attractive investment. Yields are being boosted by increased demand for risky assets tied to the optimism over…

Silver 1 OZ 999 NY (XAG=X) Sell Off Amid Keener Risk Appetite

Silver 1 OZ 999 NY (XAG=X) Sell Off Amid Keener Risk Appetite Gold and silver prices are lower and headed toward technically bearish weekly low closes in early U.S. trading Friday. Trader and investors are exhibiting very little risk aversion in the marketplace to end the trading week, and that’s negative for the safe-haven metals. February gold futures were last…