German economy contracts in Q4, raising fears of recession
German economic activity unexpectedly slowed in the last three months of 2022, adding to persisting signals that the economy is entering recession, though economists are slightly optimistic and expect downturn to be milder, in comparison to…
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Euro regains traction ahead of EU CPI report, Fed and ECB
The Euro regained traction after two-day pullback and rose on Monday, underpinned by higher than expected Spanish inflation HICP Jan 5.8% vs 4.7% f/c, Dec 5.5% and improving Eurozone economic sentiment (Jan 99.9 vs Dec 97.1, f/c 97.0), as…
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Extended narrowing range ahead of key events this week
Cable is trading within a narrow range around 1.24 handle in European session on Monday, extending near-term directionless mode.
Bulls were capped by the base of descending weekly cloud (1.2455) and so far unable to register a clear break…
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Bulls to take a breather on overbought daily studies
The AUDUSD edges lower in early Monday following last week’s failure to clearly break above former top at 0.7136 (Aug 7 lower top) though bulls managed to generate bullish signal on weekly close above pivotal barriers at 0.7071/91 (200DMA /…
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Pullback finds footstep above significant support
Bitcoin managed to stabilize after Thursday’s 2.7% pullback extended on Friday but find ground above strong support at 22187 (rising 10DMA), which also created a golden-cross with 200DMA and additionally underpin the action.
Dip should be…
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Oil probes again through key barrier, underpinned by upbeat US GDP data and demand optimism
The WTI oil advances for the second consecutive day and probing again through strong resistance at $81.91, provided by the top of thick daily cloud and 50% retracement of $93.72/$70.09, where recent attacks failed several times to register…
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Yen edges higher on inflation figures but near-term action is still directionless
The USDJPY dipped after Tokyo core inflation rose above expectations in January, increasing pressure on Bank of Japan to start phasing out its ultra-loose policy.
Near-term price action holds in a sideways mode, ranging around 130 level…
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Bulls face strong headwinds but remain in play; US inflation data in focus
Cable edges lower in early Friday’s trading as bulls continue to face headwinds and repeatedly failing to sustain gains above 1.24 mark, keeping the price action in sideways mode for one week.
Strong barrier at 1.2446 (base of falling…
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US economy expanded above expectations in Q4 2022
The US Gross Domestic Product rose at a 2.9% annualized rate in October-December 2022 period, after the economy grew by 3.2% in the third quarter but beat expectations for 2.6% growth.
The data signal that the economic growth remained…
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Bulls take a breather ahead of key US GDP data
Gold price eases from new multi-month high ($1949) in European trading on Thursday, as larger bulls take a breather ahead of release of key US GDP data.
The US economy is expected to show growth of 2.6% in the last three months of 2022,…
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