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The U.S. Justice Department has taken several actions to disrupt criminal activity by individuals working on behalf of the government of the People’s Republic of China, said U.S. Attorney General Merrick Garland during a news conference on Monday. Garland said two Chinese intelligence officers have been charged with attempting to obstruct a criminal prosecution of […]
President Joe Biden on Monday warned again of dire consequences for the U.S. economy if there’s a default on the federal debt, saying “there’s nothing that would create more chaos, more inflation and more damage to the American economy.” Speaking at Democratic National Committee headquarters, Biden said he would not cut Social Security or Medicare, […]
Gold futures finished slightly lower on Monday, following last week’s modest rise. The precious metal found support Friday on the back of softer U.S. yields. Those softer U.S. yields could “play in favor” of gold if the market sees a material pullback in Federal Reserve interest-rate hike expectations, but that view “is data dependent,” said Ipek Ozkardeskaya, senior […]
• USDJPY reversed from support level 145.75 • Likely to rise to resistance level 151.85 USDJPY currency pair recently reversed up from the support level 145.75 (former monthly high from September). The support level 145.75 was strengthened by the support trendline of the daily up channel from August and by the 50% Fibonacci correction of […]
• NZDUSD reversed from resistance level 0.5785 • Likely to fall to support level 0.5600 NZDUSD recently reversed down from the resistance level 0.5785 (top of the previous wave (iv) from the start of October). The resistance level 0.5785 was further strengthened by the upper daily Bollinger Band and by the 38.2% Fibonacci correction of […]
Oil futures settled lower on Monday, as lackluster import data from China and the conclusion of the Communist party’s national congress helped to dull expectations for energy demand from the world’s second largest oil consumer. U.S. benchmark West Texas Intermediate crude for December delivery CLZ22, -0.28% fell 47 cents, or nearly 0.6%, to settle at […]