Aussie dollar falls to multi-week low as softer than expected inflation adds to negative sentiment
Australian dollar remains under increased pressure from risk aversion and holding firmly in red for the fourth consecutive day, with softer than expected inflation data for the first quarter, adding to negative sentiment.
Australian…
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Cable remains within extended consolidation but negative signals developing on weekly chart
Cable is holding near 1.24 handle at the start of US session on Friday and within daily range between 1.2376 and 1.2446.
Mixed UK economic data (retail sales / PMI) failed to provide stronger direction signal, keeping the price within…
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Recovery in EU services sector accelerates in April but activity in manufacturing declines further…
The Eurozone Services Purchasing Managers’ Index jumped well above expectations in April, hitting 56.6, the highest since March 2022, from 55.0 previous month and well above 54.5 consensus.
Strong acceleration in bloc’s dominant services…
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Aussie dollar accelerates lower on soured risk mode
Australian dollar fell around 0.9% in Asia / early Europe on Friday, deflated by fading risk appetite as US recession fears grow.
The US dollar also regained traction on rising bets for another Fed rate hike in May, despite softer economic…
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USDJPY – weaker near term tone on downbeat US data
The USDJPY started to lose traction after repeated failure to clearly break through pivotal Fibo resistance at 134.75 (61.8% of 137.90/129.64 descend).
Fresh weakness was sparked by stronger than expected rise in US weekly jobless claims…
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Oil price falls further on stronger dollar and demand concerns
WTI oil price falls further in early Thursday, extending Wednesday’s bearish acceleration (down 2.4% for the day) which has registered a daily close below psychological $80 support.
Fresh weakness broke below next pivot at $79.00 (Fibo…
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Euro looks for fresh direction signals
The Euro remains constructive and returns above 10DMA (1.0947) in early US session, but continues to move within 1.1000/1.0910 congestion, which extends into third straight day.
Eurozone March inflation report showed persistently high…
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Eurozone underlying inflation rises further in March, adds pressure on ECB
Annualized inflation in the Eurozone eased to 6.9% in March from 8.5% in February, in line with expectations and mainly driven by strong fall in energy costs, but so called core inflation, excluding the most volatile components, rose to…
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Cable remains constructive but recovery fragile below daily Tenkan-sen
Cable extends recovery from Monday’s low (1.2353) into second straight day, after receiving fresh boost from higher than expected UK inflation data for March, which added to expectations for 25 basis points BOE rate hike in May.
Fresh…
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UK inflation ticks lower in March but remains above 10%
Inflation in Britain was slightly lower in March, falling to 10.1% from 10.4% in February, but missed forecast at 9.8%.
UK inflation eased from the highest in over four decades at 11.1%, posted in October, but remains the highest in…
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