Reserve Bank of Australia raises interest rates by 0.25% as inflationary pressures persist
The Reserve Bank of Australia raised interest rates by 25 basis points from 3.60% to 3.85% in a unanimous vote and widely expected decision.
This was the RBA’s first hike in two years and came just six months after its last rate cut in…
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WTI OIL – double failure at key support zone signals that pullback from new multi-month high…
WTI oil extended pullback from new multi-month high ($66.46) in early Tuesday’s trading, following gap-lower opening at the start of the week and over 4% drop on Monday which marks the biggest daily loss since Nov 11.
Signals of…
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GOLD – the downside is still very vulnerable despite today’s strong bounce
Gold extended sharp drop and fell to the lowest in one month, after trading on Monday started with about $100 gap lower, signaling that negative sentiment (after Friday’s biggest daily drop in over four decades), persists.
De-escalating…
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Gold – strong two-day pullback cracks $5000 support but larger bulls remain in play
Gold dipped briefly below key $5000 support on Friday, in extension of spectacular drop of more than $600 in just two days.
As I signalled in yesterday’s comment, risk of pullback has increased after the yellow metal’s price advanced for…
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AUDUSD pulls back from new three-year high
AUDUSD extended rally for nearly two weeks and hit three-year high on Thursday (0.7093), before easing.
Weakening US dollar and Aussie tracking strong rise in precious metals, were mainly behind the latest rally (up over 6% since the…
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Gold price exploded after break of $5000 barrier and eye $6000, but bulls may take a breather…
When gold broke through magic $5000 barrier on Monday, I was asked whether the metal can reach $5500 in coming months? My answer was that $6000 per ounce is very likely and in a matter of weeks, not by the end of the year, as some analysts…
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WTI oil price rises to four-month high on supply concerns
WTI oil rose further on Wednesday (in extension of Tuesday’s 2.9% advance) and hit the highest in four months ($63.50).
Weakening dollar, disrupted US crude output due to heavy winter storm which halted production and recent outages from…
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GOLD hits new record high above $5300
Gold cracked $5300 barrier and hit new record high ($5311) in early Wednesday, remaining in steep and uninterrupted rally that has registered the fastest moves from one to another round-figure level (less than 25 hours), after the price…
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USDJPY extends steep descend into third straight day and breaks key support
USDJPY remains in a steep fall for the third consecutive day (down almost 4%) with speculations that intervention may be behind the move, along with increased safe-haven demand and month-end flows.
Fresh extension lower on Tuesday broke…
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EURUSD – bulls approach 1.20 barrier
The Euro keeps firm tone and holds near fresh multi-month high (1.1907, posted on Monday) following last week’s strong rally and gap-higher opening at the start of this week.
Weak dollar with signals of possible deeper drop, was mainly…
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