Due to Covid-19 lockdowns, China has major concerns about the growth rate. China releases the data on factory activity which slows down due to residential and commercial lockdowns. However, impacts adversely and hits down the prices of crude oil. In the world, China is the leading consumer of crude oil
Below are the details about today’s economic data which may impact the situation of the market. USD ISM Manufacturing PMI at 7:30 PM Measures: Level of a diffusion index based on surveyed purchasing managers in the manufacturing industryReleased monthly, on the first business day after the month ends; Next Release
Here we have various economic data which may impact the trading conditions of the market. Advance GDP q/q at 6:00 PM Measures: Annualized change in the inflation-adjusted value of all goods and services produced by the economy Released quarterly, about 30 days after the quarter ends Next Release date: July
As seen in the above chart, there is a trend line resistance in XAU/XAG on the weekly chart which depicts the Gold and Silver ratio. The Gold-Silver ratio chart is trading near its resistance level of 82.25 on the weekly chart. Three consecutive closes + weekly close above 82.25 will
Trading flows of copper are continuously in a hitting mode since the lockdown in China lasts. Moreover, Covid-19 adversely impacts the economy. But this time China pledges to resuscitate an economy thereby providing funds and support. Today, metals from copper to iron, lose recoup which accelerates drastically during an escalating
Today, in Asia crude oil upsurges and opened higher in the morning session thereby falling abruptly during the previous trading sessions. We all are aware of the fact that China is the second-largest fuel carrier in the whole world. Covid-19 outbreaks due to which lockdown continues in China. However, Shanghai,
For bullion traders, Monday tends to be a noble trading session. Prices of XAUUSD meet up their highest next levels which provides a safety closet to bullion traders. It seems like an uncertainty between Russia and Ukraine conflict damps down the risk sentiments thereby encouraging the investors to dive into
On behalf of Commodity News, warm greetings to all of you on the occasion of Hanuman Janmotsav. Just read about weekly commodity Samachar trend updates on bullion, base metal, and energy. The Russia-Ukraine tension has now reached its peak. According to reports, all the countries are preparing their own arms
The white metal silver is shining radiantly thereby favoring bullish traders and this is a good time to invest in Silver. In the short-term chart, silver is forming a flag pattern that depicts a good risk-reward ratio. Precisely, a flag chart pattern comes with low risk and handsome profits. If
