USDJPY remains at the back foot ahead of key US labor report
The USDJPY holds in red for the fourth straight day and hit one-week low on Thursday, as markets await release of US May labor report on Friday.
Today’s ADP report showed much stronger than expected hiring in the US private sector,…
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Eurozone inflation falls below expectations in May
Inflation in the Eurozone eased more than expected in May, suggesting that recent cycle of the fastest ever increase of interest rates is starting to give results and also ease pressure on the European Central Bank for the future steps in…
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Bears hold grip ahead of EU inflation report
The Euro remains at the back foot in early Thursday despite Wednesday’s strong downside rejection and signal of bear-trap formation on daily chart, as well as constructive signals from daily chart (fading bearish momentum / north-heading…
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Turkish lira remains in a free fall after elections
The USDTRY is holding in a sharp post-election bullish acceleration for the second consecutive day, hitting a series of new record highs, with the last one at 20.74 zone, posted on Wednesday, after a gap higher opening.
Lira’s sentiment…
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Firm break of psychological 1.07 support to open way for further weakness
The Euro came under renewed pressure and fell to new nine-week low on Wednesday, bringing larger bears back to play after brief consolidation above 1.07 support.
Fresh weakness so far shapes Wednesday’s action in large bearish candle,…
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Dollar index rises on fresh hawkish signals from Fed; US NFP in focus
The dollar index hit new highest in two and a half months following fresh acceleration higher on Wednesday, sparked by renewed hawkishness from Fed.
Comments that there are no significant reasons for the central bank to pause its rate…
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Aussie dollar under increased pressure from weak China’s manufacturing data
Australian dollar fell to new multi-month low in early Wednesday, after coming under increased pressure from risk aversion and slowdown in Chinese factory activity.
China’s manufacturing PMI fell to 48.8 in May vs 49.2 contraction in…
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Yen gains traction but traders remain cautious ahead of US labor report
The USDJPY dipped below 140 mark on Tuesday, adding to reversal signals which are developing on daily chart.
Pullback from new 2023 peak (140.93) comes after Doji candle on Monday showed indecision, signaling that larger bulls were…
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Oil price tumbles on fading risk sentiment
Oil fell sharply on Tuesday, losing almost 4% until early US session, as risk sentiment soured on fresh concerns about the US debt ceiling deal, while supply outlook is unclear due to mixed messages from world major oil producers, just days…
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Violation of psychological 1.07 support signals bearish continuation
Probe through psychological 1.07 support in early Tuesday adds to negative signals as larger bears off 2023 high (1.1095) resume after hesitating at 1.07 level in past two days.
Daily studies remain in full bearish setup and maintain…
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