Dollar index breaks psychological 100 support and hits the lowest in over one year
The dollar index holds firmly in red for the seventh consecutive day and on track for the biggest weekly loss in thirteen months, deflated by expectations that the Fed may end its tightening cycle in the near future and additionally…
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EURUSD – bulls crack key Fibo barrier
The Euro keeps firm tone and cracked key Fibo barrier at 1.1232 (61.8% of 1.2266/0.9535 downtrend), signaling further advance.
Strong bullish signal was generated on break of 200WMA (1.1181) and probe through 1.1232 pivot, which will…
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AUDUSD – bulls are taking a breather under key resistance zone
Bulls are pausing just under key resistance zone at 0.6890/0.6900/15 (Fibo 61.8% of 0.7157/0.6458 / June 16 peak / weekly cloud top) which was cracked after sharp bullish acceleration in past two days (the pair was up 3.1%).
Markets…
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Crude oil to rise further on tightening oil market and brighter demand outlook
WTI oil price rose to new 2 ½ month high, after a brief consolidation around pivotal Fibo barrier at $75.92 (61.8% retracement of $83.51/$63.63 descend).
Bulls for now ignore overbought daily studies and resume rally, in which the…
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Gold extends advance on weakening dollar / hopes Fed rate hikes nearing end
Gold keeps firm tone on Thursday and extends Wednesday’s 1.3% advance, sparked by softer than expected US June inflation.
Fresh bulls cracked pivotal resistance zone at $1961/64 (55DMA / Fibo 38.2% of $2080/$1892), with firm break here…
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GBPUSD rises above psychological 1.30 barrier following better than expected UK GDP data
Cable surged through psychological 1.30 barrier on Thursday and hit the highest since mid-April 2022, after receiving fresh boost from better than expected UK May GDP data.
UK economy contracted by 0.1% in May, beating expectations for…
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EURUSD – bulls tighten grip after strong post-US CPI rally and look for further upside
EURUSD is holding near new 2023 high and the highest since Apr 2022 on Thursday morning, following 1.1% advance on Wednesday (the biggest daily gains since Feb 1).
Weaker than expected US inflation in June added pressure on dollar on…
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USDJPY falls to new multi-week low after US CPI data and cracks key support zone
USDJPY fell to six-week low on Wednesday, extending steep downtrend into fifth straight day, in fresh acceleration after softer than expected US CPI data.
The dollar lost ground on initial signals that Fed’s tightening cycle is nearing…
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US inflation continued to descend in June, but is still well above 2% target
US inflation continued to ease in June, remaining in a downward trajectory from 9.1% peak (June 2022) for the thirteenth consecutive month and boosting optimism, although US policymakers remain cautious about the pace of decline, which is…
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GBPUSD – bulls lose traction on approach to 1.30 barrier; US CPI in focus for fresh signals
Cable eases from new 15-month high (1.2969), posted in late Asian trading on Wednesday, as bulls faced headwinds on approach to psychological 1.30 barrier, due to overbought daily studies.
Wednesday’s action was so far shaped in a…
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