Silver (XAG/UD) started the new week on a subdued note and consolidated last week's retracement slide from or above one-month highs. The white metal remained close to a two-week low touched on Friday and traded around the $30.55 area, or the 100-day Simple Moving Average (SMA), during the Asian session. From a technical perspective, acceptance below the 100-day SMA will be seen as a fresh trigger for bearish traders against the backdrop of last week's failure near the $32.35 horizontal resistance. Given that oscillators on the daily chart have just started gaining negative traction, XAG/USD...
Oil slipped after a weekly advance, as lingering concerns about demand in China vied with indications the US may tighten sanctions on supply from Russia. Brent traded above $74 a barrel after rising almost 5% last week, while West Texas intermediate was near $71. China's crude refining dipped to the lowest in five months while two key economic indicators — home sales and consumer spending — also fell. The data out of the top crude importer sent prices somewhat lower. They had earlier held steady after US Treasury Secretary said the US and its allies could...
The EUR/USD pair trades in positive territory around 1.0510 during the early European session on Monday. However, the upside for the cross might be limited due to the dovish stance of the European Central Bank (ECB). The ECB decided to cut interest rates for the fourth time this year last week and kept the door open to further easing as the Eurozone economy is weighed by political instability at home and the potential Donald Trump's tariff threats. Later on Monday, traders await the preliminary Eurozone HCOB Purchasing Managers' Index (PMI) for December for fresh impetus, along with the...