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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Bears to position for attack at key supports
Cable is consolidating after 0.6% drop on Thursday, as bears faced headwinds at 1.2400 zone, prompting some profit-taking.
Upticks seen as price adjustment ahead of fresh push lower and expected to stall under 1.2470 zone (5DMA / broken…
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Euro likely to weaken further after consolidation
The Euro is consolidating above new multi-week low in early Friday’s trading, as bears take a breather after acceleration on Thursday which resulted in 0.64% daily drop and break of key supports.
Thursday’s close below 1.0805/1.0791…
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Several factors continue to fuel dollar’s near-term bullish stance
The dollar is holding near new multi-week high in early European trading on Thursday, keeping firm tone on increased safe-haven demand.
Several factors contribute to greenback’s recent strength, with persisting uncertainty over the US…
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