Sterling was lifted by downbeat US data and pressuring pivotal barrier
Cable cracked 1.2300 barrier on fresh acceleration after a very disappointing US Empire State index results (Jan -32.9 vs -8.7 f/c and Dec -11.2) deflated dollar.
Bulls tightened grip after consolidating in past two day, however, daily…
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Bulls hold grip but overbought conditions warn of prolonged consolidation
The Euro regained traction on Tuesday but remains within a consolidation range, signaling that larger bulls remain in play, as the pair is in steep rally for the fourth consecutive month and the action is underpinned by last week’s large…
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China’s economic growth slows in Q4, but beats expectations
Chinese gross domestic product grew 2.9% in the last three months of 2022, beating expectations for 1.8% expansion, but was well below 3.9% growth in the third quarter.
Excluding the biggest slowdown in the second quarter (0.1% vs 1.8%…
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Strong recovery to pause under falling daily cloud
The WTI oil price edges lower after briefly extending last week’s 2.2% advance, after the action faced strong headwinds at $80 resistance zone (psychological / base of falling and thickening daily cloud).
Overall near-term structure is…
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Bears are pausing ahead of key BoJ policy meeting
The dollar index started the week in negative mode and hit seven-month low in early Asian session but managed to regain traction and edge higher in European trading, signaling a pause after last week’s 1.5% drop.
The greenback came under…
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Bulls to stay intact while today’s gap remains unfilled
Bitcoin opened with a gap-higher on Monday and hit the highest since mid-September, in extension of sharp bullish acceleration last Thu/Fri.
Surge through psychological 20 and 21K after gapping higher by over 1100 pips adds to strong…
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Bulls likely to take a breather before firm break of psychological 0.70 barrier
The AUDUSD hit new multi-month high in early Monday’s trading, following a probe above psychological 0.70 barrier for the first time since mid-August.
Aussie is underpinned by renewed risk sentiment on expectations of Fed slowing the pace…
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EURJPY falls sharply for the second day
The cross extends steep fall into second straight day, losing 1.3% until early US session on Friday, following 1.6% drop on Thursday, as yen rose sharply on weaker dollar and speculations that BoJ is about to start revisions of its…
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Larger downtrend to resume after taking out key supports
The USDJPY keeps firm negative tone and dips to new lowest levels in over seven months on Friday, in extension of strong acceleration on Thursday, when the pair lost 2.3% of its value, in the biggest daily drop since Dec 20.
The dollar was…
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Aussie keep firm tone but bulls may take a breather before push through 0.70 barrier
The Australian dollar remains firm on Friday and attempts towards psychological 0.70 barrier after rallying 1% on Thursday, underpinned by higher commodity prices and growing expectations that the Fed would further ease the pace of its…
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