Key support zone under increased pressure
Australian dollar hit new (marginally lower) 2023 low on Tuesday, in extension of fresh weakness, sparked by higher US dollar and drop in base metal prices.
Bears cracked the floor of a larger range (0.6563/0.6818, since early March) and…
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UK inflation eases less than expected in April, adding pressure on BoE
Inflation in Britain eased in April and fell below two-digit values for the first time since August, but missed expectations, while core inflation which excludes the most volatile components, rose well above expectations / previous month…
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Oil price rises on improved sentiment but faces strong headwinds at key resistance zone
Oil price rose on Tuesday on optimism on eventual deal on debt ceiling talks to avoid debt default scenario, while the latest comments from Saudi oil minister fueled expectations that OPEC+ may opt for further production cuts in its June 4…
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Weak UK PMI data deflate pound but key supports still hold
Cable accelerated lower on Tuesday, deflated by weaker than expected UK PMI data for April.
Activity in services sector, the largest segment of UK economy, fell to 55.1 from 55.9 previous month and missed consensus at 55.5, while…
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Gold comes under renewed pressure on hawkish Fed / debt ceiling deal hopes
Gold dips further on Tuesday, as renewed hawkish stance from Fed and optimism about debt ceiling deal improve risk sentiment and inflate dollar.
Fresh weakness eyes pivotal $1950 zone (lows of last Thu/Fri) and Fibo support at $1944 (50%…
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Safe haven Swiss franc rises to seven-month high vs Euro
The EURCHF pair fell to the lowest in over seven month on Monday, in fresh acceleration of larger downtrend from double- rejection at parity level in late March, during past two sessions.
Growing uncertainty over US debt ceiling talks…
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Thickening daily cloud likely to limit recovery
The Euro extends bounce from temporary base at 1.0760 into second straight day, after failing to register a clear break below daily cloud (spanned between 1.0796 and 1.0875).
Fresh strength was sparked by weaker dollar and oversold…
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Extended sideways mode looks for fresh direction signals
Australian dollar remains in a choppy and directionless mode for the third straight day, awaiting fresh signals.
Fed Powell’s surprise dovish shift on rate outlook and renewed optimism that debt ceiling talks will resume after staling…
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Bulls to pause for consolidation before resuming
The USDJPY is consolidating under new multi-month high (138.74) as traders collected some profits after last week’s 1.65% advance.
Friday’s close above former tops at 137.90/77 (Mar 8 / May 2) added to bullish signals, however,…
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Strong bearish signal on weekly close below broken $1975 higher base
Gold edges higher on Friday in consolidation of sharp fall (2.9%) in past three days and on track for the biggest weekly loss since the last week of January.
Metal’s price fell on fresh optimism over debt ceiling talks and the latest…
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