WTI oil resumes larger downtrend
WTI oil remains firmly in red and fell to nine-week low on Wednesday, signaling continuation of larger downtrend which paused for a brief consolidation in past three days.
The recent decision of OPEC + cartel to further increase output…
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GBPUSD – bulls accelerate for the second straight day and approach strong barriers
Cable continues to trend higher and nears key near-term barriers at 1.3588 (July 24 high) and 1.3618 (daily Ichimoku cloud top).
Weaker dollar on fresh signals of Fed rate cuts (the first cut to be expected in September) and latest data…
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US inflation rises moderately in July
The US consumer price index rose 0.2% in July compared to 0.3% gain in June, while annualized inflation was unchanged at 2.7% in twelve months to July.
So called core inflation, excluding the most volatile food and energy components, was…
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Reserve Bank of Australia cuts interest rate by 25 basis points, as expected
Reserve Bank of Australia cut interest rates by 25 basis points to 3.6% today, in line with market expectations, after the latest economic data signaled that core inflation would hold around the middle of the central bank’s 2% to 3% target…
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GOLD – drop below triangle support line weakens near term structure
Gold remains firmly in red (down 1.2% until early US trading on Monday), as traders collected profits after repeated rejection at pivotal $3400 resistance zone (psychological / upper boundary of daily triangle pattern).
Fresh weakness…
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BTCUSD – bulls accelerate through 120K and near all-time high
BTCUSD surged through psychological 120K barrier and hit the highest in almost one month (122300) on Monday.
Recovery leg from 112K zone (higher base / the bottom of pullback from new record high) has strongly accelerated in past two…
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WTI Oil – larger bears likely to pause after a steep fall
WTI oil traded within a narrow range on Friday as steep fall of past six days started to run out of steam.
Oil came under increased pressure from recent decision of OPEC+ to further increase production, darkened economic outlook after US…
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Bank of England cuts rates by 25 basis points but policymakers remain strongly divided
The Bank of England cut interest rates by 25 basis points to 4%, in its August policy meeting on Thursday but policymakers faced difficulties reaching consensus.
The Monetary Policy Committee members voted 5-4 for rate cut, as four…
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Gold cracks key resistance zone on fresh wave of safe haven demand
Gold price rose on Thursday morning as new packages of increased US import tariffs took effect, adding to high global uncertainty and prompting investors into safety.
Fresh rise cracked strong resistances at $3400 zone (Fibo 76.4% of…
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EURUSD – bulls firmly hold grip above rising daily cloud
EURUSD jumped on Wednesday, extending post-NFP recovery leg which paused in past two days after sharp rally last Friday.
Bulls resumed after consolidation, to hit one-week high and marking almost 61.8% retracement of 1.1788/1.1391 drop,…
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