Brent oil hits one month low on the latest optimistic signals about potential peace deal
Brent oil fell over 5% on Wednesday on fresh optimism about potential end of US-Iran war and re-opening of Hormuz strait.
The price fell to the lowest in over one month, adding to growing bearish signals after the action was capped by…
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Gold remains at the back foot on fragile geopolitical situation
Gold holds in red for the second consecutive day on Wednesday and pressure the floor of seven-day range ($4453), also moving into lower part of short-term bear-channel (off $4889, mid-Apr peak).
Fading hopes of a peace deal in the Middle…
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EURUSD regains traction but faces a number of strong technical barriers
The Euro edged higher on Wednesday morning but still holds within a narrow range that extends into third straight day and below strong technical resistances.
Lack of clearer signals (geopolitical / macroeconomic) keeps near term action…
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USDJPY – thick daily cloud underpins strongly but traders cautious on looming intervention
USDJPY jumped on Tuesday as short-lived risk appetite was hit by renewed tensions in the Middle East that pushed the price to the upper side of a narrow near term range (158.80/159.35).
The action remains well supported by thick daily…
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Fresh risk appetite on US-Iran talks optimism deflates dollar
The dollar fell across the board at the start of the week, pressured by renewed risk sentiment on growing hopes of a deal between the US and Iran to reopen Hormuz strait and prevent deeper crisis on prolonged supply shortage.
Although…
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Brent gaps lower and falls below $100, on growing optimism over US-Iran peace talks
Brent oil opened with a gap-lower and hit the lowest in more than two weeks on Monday ($96.88), driven by fresh wave of optimism about potential US-Iran peace deal, although key points of negotiations are still to be discussed.
Fresh…
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UK retail sales fell sharply in April
British retail sales fell by 1.3% in April, in the biggest monthly drop in one year, after 0.6% expansion in March and disappointing expectations for decline by 0.6%.
Sharp fall in fuel sales (the largest monthly fall since the Covid…
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Eurozone economic activity slows further in May – PMI
The data released on Thursday added to darkened economic picture of the Eurozone, as economic activity contracted at the fastest pace in nearly three years in May, on prolonged impact from the war (Ukraine and the Middle East) that…
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Gold – bears take a breather at key support zone but still hold grip, geopolitics remain in…
Gold edged higher on Wednesday after cracking important $4500 support zone (50% retracement of $4099/$4889 rally / recent higher base) which provides significant headwinds to larger bears.
Partial profit-taking on oversold conditions /…
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British inflation drops below expectations in April
British inflation rose by an annual 2.8% in April, the lowest in more than a year, down from 3.3% in March and below forecasts for 3% increase.
Core CPI, stripped for volatile components, rose by 2.5% in April, compared to 3.1% increase…
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