Slight bullish bias seen ahead of key US inflation report
The USDJPY remains constructive and edges higher on Wednesday, following weak Japanese data overnight and a bear trap under Fibo support at 131.51 (61.8% of 129.50/134.77).
Wednesday’s action, however, is rather quiet, as markets await…
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Euro keeps bullish stance but US CPI data likely to define near-term direction
The Euro keeps bullish bias in early Wednesday and regains traction after bulls took a breather (Tuesday’s Doji).
Full reversal of January’s pullback (1.0705/1.0483) generates initial signal of continuation of larger uptrend from 2022 low…
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Dow extends gains on renewed risk sentiment
The Dow Jones opened higher on Monday and rallied to three-week higher on Monday, in extension of last Friday’s 2% advance, keeping the positive sentiment on China’s border opening and signals that cooling US labor market would lead to…
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Oil price rises on renewed demand optimism but key barriers still hold
Strong bullish acceleration on Monday (WTI contract was up around 3% in Asia / Europe) retraced close to 50% of last week’s 8.5% drop, as sentiment improved on China’s opening its borders that brightened the outlook for oil demand, while…
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Weaker dollar and improved sentiment lift gold to 8-month high
Gold rises to 8-month high on Monday, lifted by weaker dollar on growing expectations that the Fed would further decelerate its policy tightening, as well as improving sentiment on top gold consumer – China, opening its borders.
The yellow…
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Bears pressure key support zone and risk deeper fall on break
The dollar index remains at the back foot on Monday and pressuring key supports at 103 zone (lows of mid / late Dec, where a temporary base has formed) after strong fall on Friday (down 1.1% for the day).
The dollar came under increased…
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Sterling extends advance on growing expectations for more dovish Fed
Cable continues to benefit from rising expectations for more dovish Fed after US labor data on Friday added to signals that the central bank would further ease the pace of policy tightening, increasing the possibility for 25 basis points…
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Fresh advance signals an end of a shallow correction
The Euro rises further in Asian / early European trading on Monday, lifted by renewed risk sentiment, which deflates the dollar, as markets expect that the Fed would further ease the pace of rate hikes in the next policy meeting.
the…
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Break of key barriers signals further advance
The Australian dollar keeps strong bullish stance and hits five-month high in early Monday, in extension to Friday’s 1.8% advance.
Renewed risk appetite lifted Aussie, with fresh rally in stocks during the Asian session on Monday, adding…
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Dollar slides on solid NFP but weaker than expected wage growth
The dollar eased after US labor data on Friday, as US economy added 223K jobs in December, beating expectations for 200K increase, but wage growth slowed slightly (Dec 0.3% m/m vs 0.4% Nov / f/c) and unemployment fell to 3.5% from 3.6%,…
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