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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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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