GOLD – bears pressure key supports at $1900 zone
Gold price fell to new 5-week low on Monday, pressured by rising dollar and hawkish view over US interest rates in the near future, following mixed US inflation numbers in July.
The metal regained bearish tone after larger downtrend off…
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USDJPY probes again through 145 resistance zone but traders remain very cautious of possible…
Bulls cracked former top of June 30 (145.06) on Monday and posted new 2023 high (145.22) but the price eased from headwinds on retest of key barrier and more significant threats of possible intervention.
Traders fear that Japanese…
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EURUSD – near-term action to remain sideways while 100DMA holds
Bears are facing some headwinds on Monday but hold grip, following bearish signals from weekly close below Fibo support at 1.0955 (50% retracement of 1.0635/1.1275 upleg) and strong upside rejection on Thursday which left a daily candle…
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USD INDEX – narrow consolidation likely to precede fresh gains
The dollar index is holding near new five-week high in early Monday and keeping firm tone, following four consecutive weeks of gains (the index was up over 3% since mid-July).
Last week’s US inflation data showed fresh increase in…
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Market Tension and Central Bank Interest Rate Uncertainty
Financial markets are under tension, with a significant sense of confusion among traders and a divergence of opinions regarding the future steps of central banks in major economies. This unease has been particularly amplified following the…
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The markets are awaiting the US inflation data
The markets are awaiting the US inflation data, which will guide the US Federal Reserve's direction. Today, the Consumer Price Index (CPI) reading will be released from the United States.
While the Federal Reserve monitors the Personal…
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Chinese Economic Concerns Drag Down Stocks
Chinese economic concerns impact global financial markets, leading to decreased risk appetite, stock market declines, and rise of the US dollar.
Today, the dollar was sought as a safe-haven asset, resulting in an increase against a basket…
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Increased risk appetite with hopes for a halt in interest rate hikes
The new week began with increased risk appetite in the financial markets amid expectations that central banks are nearing the peak of interest rate hikes. Financial markets are eagerly awaiting data that could be very significant this week.…
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Strong US. Dollar awaiting important economic data and interest rate decision
A strong rise for the US dollar against a basket of major currencies, as it continues its gains for the third consecutive week, rising more than 1% over this week.
We witnessed a strong USD rise amid a state of anxiety prevailing in the…
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Credit rating downgrade for the United States and better-than-expected job data
The credit rating downgrade for the United States is one of the most significant events that occurred in the global financial markets in the past hours, causing fluctuations in the markets.
The rating agency, Fitch, announced a long-term…
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