Aussie dollar stands at the back foot ahead of RBA policy meeting
Australian dollar dips on Monday, dragged lower by weaker Chinese yuan, but remains within a congestion which extends into sixth straight day.
Traders await RBA’s policy meeting (due early on Tuesday) for fresh signals, as the central bank…
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Bitcoin – bears a taking a breather after strong fall on Friday
Bitcoin is consolidating after strong fall last Friday (down 5.3% for the day, the biggest daily drop since Nov 9) and keeping negative tone.
The price fell below 22000 mark (although manage to register a marginal close above this level)…
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Gold rose to three-week high ahead of key events -Fed Powell’s testimony / US labor report
Gold is holding positive tone in early Monday, with price action consolidating within a narrow range, under new three-week high.
The metal rallied 1.1% on Friday and advanced 2.5% last week, though investors remain cautious and focus on…
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Better than expected EU / German economic data add to optimism and decrease risk of recession
Eurozone business activity accelerated in February, boosting optimism that the economy may avoid recession.
EU composite PMI, which tracks the activity in services and manufacturing sectors and indicates the overall health of the…
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Gold recovery accelerates, underpinned by rising daily cloud base
Fresh bullish acceleration in European session on Friday hit two-week high, as gold price benefits from weaker dollar.
Calmer tones from the US policymakers about rate hikes in the coming months, weakened dollar’s bullish stance and…
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Bulls continue to face headwinds at key Fibo resistance
Bulls continues to face strong headwinds at key Fibo barrier at 136.66 (38.2% retracement of 151.94/127.22 downtrend), reinforced by falling 100DMA.
Friday’s price action showed repeated failure to sustain break above this barrier,…
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Euro loses traction but daily cloud base continues to provide solid support
The Euro dips on Thursday after better than expected US jobless claims / labor cost data lifted dollar, reversing the most of Wednesday’s nearly 0.9% advance.
Near-term focus is shifting to the downside as fresh weakness retraced over…
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Renewed bears probe again through key support zone
Cable lost ground after recovery was strongly rejected at the base of falling weekly Ichimoku cloud on Tuesday and fresh bearish acceleration on Thursday broke psychological 1.20 level, to test key support zone at 1.1950/14 (Fibo 38.2% of…
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Eurozone CPI ticks lower in February but underlying inflation surges
Eurozone annualized inflation eased to 8.5% in February from 8.6% previous month but failed to meet expectations at 8.2%, while monthly CPI rose by 0.8% last month after dropping by 0.2% in January.
Separate report showed that so-called…
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Euro rebounds after daily cloud base repeatedly contained dips
The Euro accelerated higher on Wednesday, lifted by stronger than expected growth in China’s manufacturing sector, which pressured dollar, while German regional inflation data added to price growth worries and boost expectations of ECB’s…
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