Bulls face strong headwinds but remain in play; US inflation data in focus
Cable edges lower in early Friday’s trading as bulls continue to face headwinds and repeatedly failing to sustain gains above 1.24 mark, keeping the price action in sideways mode for one week.
Strong barrier at 1.2446 (base of falling…
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US economy expanded above expectations in Q4 2022
The US Gross Domestic Product rose at a 2.9% annualized rate in October-December 2022 period, after the economy grew by 3.2% in the third quarter but beat expectations for 2.6% growth.
The data signal that the economic growth remained…
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Bulls take a breather ahead of key US GDP data
Gold price eases from new multi-month high ($1949) in European trading on Thursday, as larger bulls take a breather ahead of release of key US GDP data.
The US economy is expected to show growth of 2.6% in the last three months of 2022,…
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Aussie hits 5-month high vs US dollar, boosted by hot Australian inflation
The AUDUSD hit new 5-month high on Thursday, following strong bullish acceleration on Wednesday, sparked by unexpected rise in consumer prices in Q4, which signals that the RBA would continue to raise interest rates in coming meetings.…
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Bulls may take some time to eventually break through pivotal barriers at 1.0930/42
The Euro maintains firm tone and continues to pressure pivotal barriers at 1.0930/42 (top of thick weekly cloud / 50% retracement of 1.2349/0.9535).
Overall picture is bullish as the pair is on track for the fourth straight strong monthly…
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Australia inflation rises well above expectations in Q4
Australian annualized inflation rose to 7.8% in the fourth quarter of 2022, from 7.3% in Q3 and beating forecast for 7.5% increase, while quarterly inflation climbed to 1.9% in Q4 from 1.8% in Q3 and against forecasted drop to 1.6%.
The…
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Bitcoin maintains bullish stance after a limited pullback
Bitcoin regained traction after pulling back from new multi-month high (21638) and falling by 2.6% on Wednesday, as more hawkish than expected stance from Fed temporarily soured the sentiment.
Larger bulls remain intact after the pullback…
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Headwinds may delay continuation of larger uptrend
Cable keeps firm tone on Thursday, but holding within about 70-pips range, with little impact from today’s better than expected US data.
Sterling was inflated on Wednesday by UK inflation data which showed persisting inflationary pressures…
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Weak Australian jobs data increase pressure on Aussie after larger bulls got trapped above 0.70…
The AUDUSD holds in red for the second day, following strong upside rejection on Wednesday, when bulls stalled after failing to sustain break above psychological 0.70 barrier and capped by 200WMA / weekly cloud base.
The pair came under…
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EURUSD keeps bullish tone but risk of stall exists
The Euro is constructive and edges higher in European trading on Thursday, but concerns about stall are mounting after the upside attempts were repeatedly rejected in past few days and capped by the upper 20-d Bollinger band.
Strongly…
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