Eurozone economy grew slightly above expectations in the third quarter
The Eurozone Gross Domestic Product increased at a 2.3% annualized rate in the third quarter, beating forecast 2.1% growth, while previous figure being strongly revised upward from 2.1% to 4.2%.
Quarterly GDP showed the economic activity…
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Recovery gains pace but needs more evidence for reversal signal
The USDJPY advances for the third consecutive day and cracks initial barrier at 137.94 (Fibo 23.6% of 151.94/133.62 descend).
The dollar received fresh boost from renewed warnings from economists that the US economy is heading into…
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Cable is consolidating under multi-month high, technical signals are mixed
Cable is standing at the back foot on Tuesday, following a bearish close on Monday after bulls failed to hold gains above pivotal barrier at 1.2293 (former top of Aug 1), but dips remain limited and facing headwinds from 200DMA (1.2135),…
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Crude price continues to fall despite price cap on Russian oil
WTI oil price holds firmly in red for the third straight day and hit one week low in European trading on Tuesday, pressured by stronger dollar and recession fears which so far offset expected impact from G7 decision to cap the price of…
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Dollar gains traction but faces strong obstacles
The dollar index is holding firm tone in early Tuesday, following 0.8% advance on Monday (the biggest one-day rally since Oct 27.
Better than expected US data on Monday (services PMI, Factory orders) improved the sentiment and lifted the…
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Reserve Bank of Australia raises interest rates to the highest in a decade
The Reserve Bank of Australia raised interest rates by 25 basis points to 3.1%, in its December policy meeting, pushing rates to the highest in ten years.
The central bank continued with tightening and raised interest for the eighth…
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Gold loses ground, initial signal of a false break above 200DMA / psychological $1800
Gold accelerates lower on Monday, after hitting new five-month high, deflated by stronger dollar and despite the news that China, big gold consumer, is relaxing its strict Covid measures.
The metal lost traction after a marginal close…
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Dow eases on profit taking as investors eye Fed policy meeting
The Dow Jones is standing at the back foot on Monday and pressuring initial support at 34254 (rising 10 DMA, which resisted attacks in past two days.
Traders take some profits on strong rally in past two months, looking for more signals…
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Bulls face headwinds at key Fibo barrier
The Euro is trading near five-month high on Monday and cracked pivotal Fibo barrier at 1.0578 (38.2% of 1.2266/0.6535 downtrend), but quick pullback indicates that bulls face headwinds.
Last Friday’s Hanging Man candle was initial warning…
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Decline in business activity adds to signals the Eurozone is heading into a mild recession
Eurozone’s Composite Purchasing Managers’ Index, which tracks the activity in both, manufacturing and services sectors and is seen as a gauge of overall economic health, edged up to 47.8 in November from 47.3 in October (the lowest in…
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