Sterling expects stronger direction signals from BOE
Cable stands at the back foot on Thursday, ahead of BOE policy meeting, though the price action remains within larger 1.2263/1.2247 near-term range and lacking clearer direction.
Technical studies are mixed on daily chart, while warning…
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Euro keeps firm tone; ECB likely to provide fresh boost
The Euro is holding firm tone in European trading on Thursday and consolidating around psychological 1.10 level, just under new ten-month high (1.1032), hit in extension of Wednesday’s 1.1% advance.
The single currency appreciated after…
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Fed in line with expectations, signals further rate hikes
The Federal Reserve raised interest rate by 25 basis points in Jan 31/Feb1 policy meeting, in line with wide expectations for further easing of the pace of tightening, after a number of larger hikes in 2022.
The central bank’s latest…
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Eurozone consumer prices ease further but core inflation remains high
Eurozone inflation eased below expectations in January, dipping to 8.5% from 9.2% in December and beating 9% consensus, extending its rapid decline from a record high at 10.6% in October, for the third straight month.
Although the annual…
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Bears faced strong headwinds and contained by daily cloud base
The WTI oil price hit three-week low Tuesday, in extension of sharp fall in past two days (down over 4%) but drop was limited by daily cloud base and Fibo 61.8% of $72.44/$82.64 upleg) where bears faced strong headwinds, causing the price…
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Eurozone economy unexpectedly expanded in Q4 but outlook remains gloomy
The eurozone economy grew by 0.1% in the last quarter of 2022 against expectations for a contraction by 0.1%, skipping recession scenario for the time being.
The economy showed a satisfactory performance despite a drag from high interest…
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China’s economic activity accelerates well above expectations in January – PMI
Chinese economy gained strong momentum after the government eventually lifted all Covid restrictions and started to recover at much faster pace than estimated in January, after a period of contraction in past months, data released on…
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Dollar in defensive mode ahead of key central bank policy meetings
The dollar index turned to red on Monday but remains within a narrow multi-day range, as traders stand aside, awaiting policy decisions from the US Federal Reserve, European Central Bank and the Bank of England.
The US policymakers are…
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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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