High borrowing cost to continue hurting gold’s safe-haven appeal
Gold remains under pressure and probes through key Fibo support at $1909 (61.8% of $1804/$2080 rally) where the action was repeatedly rejected on Tuesday and Friday and hit the lowest in 3 ½ months.
Bullion is weighed by renewed…
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WTI Oil – bears may take a breather for consolidation after 2.2% drop
WTI oil edged higher in early Wednesday, following 2.2% drop on Tuesday, positively impacted by stronger than expected draw in US crude inventories (API report) but keeps bearish bias.
Oil prices fell on Tuesday on fresh hawkish signals…
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Euro rallies on ECB’s fresh hawkish rhetoric
EURUSD was sharply up in European / early US session on Tuesday, reversing the large part of last Thu/Fri pullback and shifting near-term focus to the upside on signals that correction from new multi-week high (1.1012) is likely over.…
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EURJPY hits 15-year high
The EURJPY cross hit new highest since September 2008 on Tuesday, as larger bulls regained control after a two-day pause and a false signal from last Friday’s hanging man candle.
Broader weakness of Japanese yen extends, despite signals…
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Bulls look for further upside but markets remain cautious about possible intervention
USDJPY keeps firm bullish tone and trading near new multi-month high in European session on Tuesday, as bulls regain traction after pausing on Monday.
The pair stays above broken pivotal Fibo barrier at 142.50 (61.8% of 151.94/127.22)…
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Bears are pausing but hold grip
Bears are taking a breather after sharp fall in past two days, but remain fully in play, following bearish signals on Friday’s close below 200DMA (0.6690) and daily Kijun-sen / 50% retracement of 0.6458/0.6899 upleg (0.6679).
Weakening…
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Bearish bias under daily cloud top / 10DMA
EURUSD is consolidating within a narrow range in early Monday trading, following 0.85% drop last Thu/Fri, on pullback from new multi-week high at 1.1012 (June 22).
Near-term action remains weighed by a bull-trap above 1.0983 Fibo barrier…
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Turkish lira collapses further after CBRT rate hike
Turkish lira lost ground again and fell to new historical low against US dollar, falling around 9% in two days after CBRT’s action on Thursday was seen by markets as insufficient.
The latest lira’s sell-off was sparked by decision of…
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Growing recession fears fuel downside risk
Cable kept weak tone in European session on Friday and fell to one week low after quite mild reaction on BoE’s 50 basis points rate hike on Thursday, as the pair traded in a choppy mode after rate decision, but the action stayed capped…
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Euro falls sharply on stronger dollar, downbeat EU PMI data
The Euro accelerated lower on Friday morning, losing around 0.9% in early European trading, pressured by stronger dollar and weak EU economic data.
Fed Chair Powell said that the central bank will move interest rates at a careful pace…
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