China inflation rises in December but expected to remain controllable during 2023
China’s annualized inflation rose by 1.8% in December, compared to the same period last year, from 1.6% previous month, in line with expectations.
Rising food prices which increased by 4.8% from 3.7% in November, were the main driver of…
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Euro gains traction and probes above the top of larger range
The EURGBP cross extends advance into second straight day and cracks tops of multi-month range, hitting 0.8881 (the highest since Sep 29).
Sustained break above the range ceiling would also lift the price above the top of descending daily…
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Bitcoin keeps bullish bias but daily cloud limits the action for now
Bitcoin is trading in a quiet mode on Wednesday, after rally in past two days faced headwinds from the base of thick daily cloud (1752), reinforced by Fibo 61.8% of 1863/1620 bear-leg.
Overbought conditions on daily chart also contribute…
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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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