Dollar index regains traction and attacking key near-term barriers
The dollar index rose on Wednesday, as greenback regained traction on fresh weakness of index’s major components – Euro and British pound.
Fresh advance fully reversed Tuesday’s dip and generated an initial signal that two-day pullback…
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Aussie dollar falls further on Australian May CPI well below expectations
Australian dollar accelerated lower and hit three-week low in early Wednesday’s trading, signaling continuation of larger downtrend which paused in past two days.
Strong decrease in Australian inflation (May 5.6% vs 6.1% f/c; Apr 6.8%)…
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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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