GBPUSD – extended consolidation likely to precede fresh push higher
Cable is consolidating under new multi-week high (1.2817), with near-term action underpinned by rising 10DMA (1.2758) and looking for fresh push higher and attack at 2024 high (1.2893).
Daily moving averages in full bullish configuration…
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EURUSD – bulls hold grip ahead of key event – ECB policy decision
The Euro edged higher on Thursday morning and partially reversed a two-day pullback from new multi-week high (1.0915), but today’s action was so far choppy and lacking direction, as traders await the verdict from the ECB later today.
The…
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US dollar index – reversal pattern forming on daily chart as upbeat US Services PMI data…
The dollar index accelerated higher on Wednesday, following much stronger than expected US services PMI data (May 53.8 vs 51.0 f/c and Apr 49.4) which signaled that services sector returned to growth (May figure hit the highest in nine…
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Gold – key economic events this week to provide fresh direction signals
Gold price edges higher early Wednesday, bouncing off the floor of near term range and remaining without clear direction as markets await fresh signals from key economic events this week.
Conflicting technical indicators on daily chart…
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USDJPY eases further on Fed rate cut speculations and Japan’s readiness to intervene again if…
USDJPY fell to the lowest in nearly three weeks on Tuesday, in extension of the bear-leg from 157.70 (May 29 lower top) driven by weaker dollar on signals of potential earlier Fed rate cut and comments from Japan’s officials about results…
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WTI oil extends steep fall on growing demand concerns
WTI oil price remains in a steep fall for the fifth consecutive day, losing over 1% and hitting new four-month low in early Tuesday’s trading, after 3.8% drop on Monday (the biggest daily fall since Nov 16).
The sentiment soured on…
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AUDUSD – bulls regain control after a healthy correction
AUDUSD stands at the front foot on Monday and extends advance into third straight day, pressuring pivotal barrier at 0.6680 (recent range ceiling).
Fresh strength further improves near term outlook, boosted by positive signal from…
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EURUSD eases on weaker demand; markets await for ECB’s verdict
The Euro started to lose traction in European trading on Monday, adding to initial warning from Friday’s daily candle with long upper shadow, which was formed after strong upside rejection.
Initial signal of two-day recovery stall was…
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Higher than expected EU inflation in May sends fresh warning to the ECB
Consumer prices in the Eurozone rose by 2.6% year on year in May, moving further away from the ECB's 2% target, following an increase by 2.4% in the previous two months and ticked above 2.5% consensus.
A more significant and closely…
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Activity in China’s manufacturing sector unexpectedly slows in May – PMI
China’s official manufacturing purchasing managers' index (PMI) dropped to 49.5 in May from 50.4 in April and missed forecast at 50.4, hitting the levels below the 50 level, which separates growth from contraction.
The unexpected…
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