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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The Bank of England raises interest rate by 50 basis points to 4% but softens tone about future…
The Bank of England acted in line with wide expectations and raised interest rates by 50 basis points to 4%, the highest since 2008.
Today’s decision marks the tenth straight rate hike in the central bank’s efforts to put high inflation…
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Gold hits multi-month high after dovish Fed
Gold continues to shine and hit the highest since mid-April on Thursday, in extension of the rally on Wednesday, sparked by dovish Fed.
Investors entered fresh gold longs, as dollar became less popular after the US central bank announced…
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