The White House intends to provide details of its plans to restrict some American investments in sensitive technology in China. It will also require notifying the government of other investments. The plan aims to prevent US capital, technology, and expertise from assisting in the development of technologies that could support China’s military modernization and threaten US national security.
European stocks also reached their highest levels in a week on Wednesday, supported by energy company stocks. Italian lender stocks rebounded from sharp losses in the previous session as the government softened its stance on an unexpected tax on banks’ gains.
The dollar stabilized near the average price range it reached this week, as investors await the release of key inflation data in the United States later today, Thursday. This data could potentially impact the monetary policy trajectory of the Federal Reserve.
The dollar is currently trading above its pivot point at 102.35 dollars.
Resistance level | Support level |
102.45 | 102.15 |
102.55 | 101.95 |
102.75 | 101.80 |
Gold prices edged lower, nearing their lowest levels in a month today, as investors await inflation data in the United States that could determine the path the Federal Reserve will take regarding interest rates in the upcoming period.
Gold rose 0.2 percent in spot trading to $1918 per ounce, but it is trading near its lowest level since July 10, which was recorded on Wednesday.
Resistance level | Support level |
1926 | 1907 |
1938 | 1901 |
1944 | 1889 |
US stocks closed lower on Wednesday after a report indicated that Americans borrowed more on credit cards than ever before in the past quarter. This was on the eve of inflation data that could impact the decisions of the US Federal Reserve regarding interest rates. It is expected that the Consumer Price Index for July will slightly rise on a yearly basis on Thursday and increase by 0.2% on a monthly basis, similar to June.
The S&P 500 index dropped by 31.47 points, or 0.70%, to 4467.91 points. The Nasdaq index lost 162.31 points, or 1.17%, ending at 13,723.96 points. The Dow Jones Industrial Average declined by 186.92 points, or 0.53%, to 35,127.57 points.
Resistance level | Support level |
35460 | 35100 |
35650 | 34935 |
35825 | 34740 |
Oil prices reached new levels on Wednesday, with Brent crude reaching its highest price since January. A significant decrease in US fuel inventories and production cuts by Saudi Arabia and Russia have counteracted concerns about slowing demand from China.
Brent crude rose by 1.6% to $87.55 per barrel at the close. West Texas Intermediate (WTI) crude, the US benchmark, increased by $1.48 or 1.8% to $84.40 per barrel.
Resistance level | Support level |
84.95 | 83.00 |
85.75 | 81.85 |
86.95 | 81.05 |
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.
Dear Valued Clients, Please be advised that the following CFD instruments will be automatically rolled…
Dear Valued Clients, Please be advised that the following instruments' trading hours and market session…
Dear Valued Clients, Please be informed that the trading hours for the following products will…
Forex trading is a global phenomenon that operates 24 hours a day for five days…
Dear Valued Clients, Please be advised that the following instruments' trading hours and market session…
As the largest market in the financial world, the Forex Exchange Market attracts trillions of…
This website uses cookies.