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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Oil price slips further on dominating economic growth worries
WTI oil price fell for the second straight day, extending pullback from $83.51 top (2023 high, posted last week).
Fresh weakness emerges from persisting worries about further increase of US interest rates and darkened growth outlook,…
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Euro benefits from improved risk sentiment, but still holding below pivotal 1.10 resistance
The Euro regained traction and bounces back on Tuesday, after a two-day pullback, lifted by renewed risk sentiment.
Much better than expected Chinese GDP and retail sales boosted hopes for economic growth, prompting investors into…
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Aussie dollar rises on hawkish RBA / upbeat Chinese GDP
Australian dollar rose by 0.7% in Asia / early Europe on Tuesday, lifted by hawkish RBA and stronger than expected China’s economic expansion in the first quarter.
The minutes of the last policy meeting showed that the Australian central…
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China’s economic activity accelerates above expectations in Q1
China’s economy expanded faster than expected in the first three months of the year, after lift of strict Covid measures provided tailwinds to all sectors of the economy, despite strong obstacles from high inflation, primarily in the most…
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Growing signals of reversal still need confirmation
The Euro accelerated lower on Monday after upside attempts in early European session were capped by 1.10, now reverted to resistance.
Pullback from new 2023 high (1.1075) extends into second consecutive day and gains pace, as dollar…
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British pound remains under pressure as dollar gains traction
Cable remains at the back foot on Monday, but with limited extension of Friday’s nearly 0.9% drop so far, though dollar keeps positive tone on growing expectations of another Fed rate hike in May.
Much better than expected release of US…
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Recovery to likely stall under key barriers
The dollar index keeps traction in early Monday’s trading, following 0.6% bounce on Friday, sparked by better than expected major bank earnings in the first quarter, while negative impact from much stronger than expected fall in US retail…
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Bulls to take a breather on overbought conditions but outlook remains bullish
WTI oil price is consolidating within a narrow range under new multi-month high ($83.51) after falling 200DMA capped the latest bullish acceleration.
Overall picture remains bullish as the latest decision of OPEC+ group to further cut…
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