Gold -bulls continue to face headwinds but eye support from Fed rate pause
Gold retested key near-term barrier at $1930 on Monday, but was so far unable to break higher, following recent triple rejection at this level, where 55DMA repeatedly capped attacks.
Renewed strength after last week’s double upside…
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USDJPY – bulls hold grip ahead of Fed and BOJ policy meetings
USDJPY keeps firm tone and holds within a narrow range just under new multi-month highs (147.87/95) in European trading on Monday.
Today’s quiet mode is mainly due to lower volumes as Japan is shut for holidays, while traders became more…
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Crude oil price continues to rise on tighter supply and brightening demand outlook
WTI oil price new highest in more than ten months in early Monday, in extension of last week’s 4.4% advance.
Several factors continue to fuel strong bullish sentiment, with decision of Saudi Arabia and Russia to extend their additional…
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Cable stands at the back foot ahead of UK CPI report and BOE rate decision
GBPUSD bears slowed on Friday but hold grip and point to further weakness, following a 0.6% drop on Thursday.
Adding to negative signals was break below 200 DMA (1.2431) for the first time since early March, with Friday’s close below it,…
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Bulls look for retest of 2023 peak
Bulls regained control and are on track to fully retrace a pullback sparked by comments of BoJ Governor Ueda about possible change in monetary policy.
Positive impact on yen was short-lived as dollar remains well supported despite…
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The latest rate hike shows that the ECB prioritizes fight with inflation
The European Central Bank raised its key interest rate on Thursday, pushing it to a record high of 4%, choosing to continue to battle high inflation despite strong warning that economic growth has entered a steep downtrend in condition of…
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WTI Oil – bulls eye $90 barrier, underpinned by tight supply outlook
WTI oil keeps firm tone and hit new multi-month high on Thursday, approaching psychological $90 barrier.
Tighter global supply outlook on the recent decision of Saudi Arabia and Russia to extend production cut until the end of the year,…
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EURUSD – ECB’s verdict expected to define near-term direction
EURUSD is in a quiet mode in European session on Thursday, awaiting fresh direction signals from the ECB’s decisions on today’s policy meeting.
Near-term action remains at familiar levels, near the mid-point of a narrow range which…
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Dollar index – bulls return to play after a shallow correction; all eyes on US inflation data
The dollar index gained traction on Wednesday, signaling that a shallow correction from new multi-month high at 105.10 (Sep 7) might be over.
Larger bulls took a breather after facing headwinds on approach to key barriers at 105.13/47…
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Sterling was hit further by weak UK GDP data, but key support still holds
GBPUSD was down over 40 pips this morning in immediate reaction to weaker than expected UK GDP data.
The price fell to the lowest in more than three months, attempting to break out of the recent four-day consolidation and pressuring…
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