Dollar advances on fresh expectations for prolonged tightening cycle
The US dollar index keeps firm tone on Monday and extends strong rally from past two days, after upbeat US labor and services sector data fueled expectations for a hawkish shift in Fed rate outlook.
Markets speculate that the US central…
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Aussie remains under increased pressure
The AUDUSD is consolidating above new three-week low in European session on Monday, but remains at the back foot, weighed by Friday’s large bearish daily candle (down 2.1%).
Much stronger US Jan NFP numbers on Friday lifted dollar,…
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Bolls hold grip for stronger recovery but more evidence needed to confirm the stance
The USDJPY is standing at the front foot, following last Friday’s nearly 2% daily advance and Monday’s opening with a gap-higher.
The dollar was boosted by strong US labor figures which signal that the central bank would extend its policy…
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Near term action weighed by rejection under weekly cloud and formation of reversal pattern
Bears are taking a breather in European trading on Monday after strong acceleration on Thu/Fri which resulted in a weekly loss of 1.7% (the biggest weekly fall since the third week of September).
Formation of Doji reversal pattern on a…
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Fresh bears look for more signals of deeper pullback
The Euro is consolidating in early Monday after suffering heavy losses last Thu/Fri (down 1.8%) but remains at the back foot and warning of further weakness.
Stronger than expected January US labor data on Friday signal that the Fed may…
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Dollar appreciates upbeat US data
The dollar index jumps to three-week high on Friday, following hot US labor report (Jan 517K vs 185K f/c) and upbeat non-manufacturing PMI (Jan 55.2 vs 50.4 f/c and Dec 49.2) that greatly improved dollar’s sentiment.
The greenback extends…
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US job growth sharply up in January – NFP
US labor sector report for January showed strong acceleration in job growth by 517K vs 185K consensus and compared to December’s upwardly revised figure from 223K to 260K, while unemployment dropped to 3.4%, the lowest in over 5 decades,…
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Performance of Britain’s services sector in January was the weakest in two years – PMI
Britain’s services Purchasing Managers’ Index fell to 48.7 in January from 49.9 in December 2022, pointing to the weakest performance in two years, when the country was under tough coronavirus restrictions.
The January data point to a…
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Oil keeps weak tone despite concerns about looming sanctions on Russia
The WTI oil remained at the back foot on Thursday and fell to three-week low, in extension to Wednesday’s 3% drop, as dollar regained traction, partially offsetting supply concerns on looming sanctions on Russian oil products.
Fresh…
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ECB signals at least one more large rate hike after today’s 0.5% raise
The European Central Bank made no surprise today and raised interest rates by 50 basis points, but signaled it will remain on course to bring high inflation under control.
The ECB was aggressive in recent policy tightening as inflation…
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