Oil price jumps on Saudi big oil cuts
WTI oil opened with 2.6% gap higher on Monday, lifted by decision of Saudi Arabia to reduce production to 9 million barrels per day in July from 10 million in May, the biggest reduction in years.
The Saudi Arabia’s cut comes on top of…
Read More...
Read More...
Strong US job growth in May tempered by lower wages and jump in unemployment
US employers hired 339,000 workers in May, well above forecasts for increase in payrolls by 190,000 and April’s upwardly revised figure from 253,000 to 294,000.
May’s rise in payrolls was the strongest since January, indicating that the…
Read More...
Read More...
AUDUSD – strong recovery extends into second straight day
Australian dollar extends strong rally into second straight day, lifted by weaker US dollar on debt ceiling deal, signals that China is working on new property market support package, expected wage raise as from July 1 and higher than…
Read More...
Read More...
Cable at two-week high above 1.25 ahead of US labor report
Cable is establishing above 1.2500 mark, in extension of six-day rally from 1.2310 higher base, boosted by hawkish BoE outlook, with the latest acceleration sparked by fresh weakness of the US dollar, as tensions about debt ceiling eased.…
Read More...
Read More...
Euro holding steady after Thursday’s bounce, key barriers at 1.08 zone in focus again
Near-term focus shifted higher following Thursday’s strong bounce on repeated failure under 1.07 support, which formed bullish engulfing pattern on daily chart and confirmed a bear-trap under 1.0652 Fibo support
The Euro hit one-week…
Read More...
Read More...
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,…
Read More...
Read More...
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…
Read More...
Read More...
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…
Read More...
Read More...
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…
Read More...
Read More...
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,…
Read More...
Read More...