Bulls remain in play but face headwinds from 200DMA
The Australian dollar is keeping traction after Wednesday’s 1.7% advance (the biggest one-day rally since Nov 10) sparked by the news that China would resume coal imports from Australia.
Strong rally on Wednesday came just ticks from Dec…
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Extended sideways mode looks for fresh direction signals
Cable remains in extended sideways mode and moving around 200DMA (1.2023), with psychological 1.20 support still offering solid support and holding the action for the third consecutive week.
Technical studies are mixed on daily chart, as…
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Fed to ease aggressive rate increases but fighting inflation remains priority – minutes
The minutes of the US Federal Reserve December’s policy meeting showed policymakers remain fully focused in bringing high inflation under control but agreed to slow the pace of interest rate increases, to reduce risks to economic growth.…
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WTI extends sharp fall on growing demand worries
The WTI oil price extends sharp fall into second straight day, dropping 4.5% on Wednesday, after registering a 4% loss on Tuesday.
Oil was deflated by growing concerns about the state of global economy, as growth weakening is expected to…
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Better than expected EU PMI data boost hopes that recession would not be as deep as estimated
Eurozone Composite Purchasing Managers’ Index, which tracks the activity in both, manufacturing and services sectors rose to 49.3 in December from 47.8 in November and beat forecast at 48.8, while Services Purchasing Managers’ Index jumped…
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Bulls accelerate on expectations for more dovish Fed
Gold extends rally in the fourth straight day and hit the highest since mid-June.
The yellow metal accelerated on Wednesday (up 1.25% until the start of American session), driven by weaker dollar and growing expectations that the Fed would…
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Aussie surges to three-week high on risk appetite, fundamentals
The Australian dollar surged in early Wednesday’s trading, driven by higher stocks and rumors that China is discussing easing of ban on Australia coal imports.
Aussie advanced over 2% in Asia, early Europe and cracked pivotal barrier at…
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Dollar strengthened sharply as trader waiting FOMC Meeting Minutes
US dollar Rose sharply against a basket of major currencies on Tuesday, as traders waiting FOMC Meeting Minutes.
FOMC Meeting Minutes may provide cues on its policy tightening path. According to CME group, FED probably will rise rates next…
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Traders eye a number of economic indicators this week for fresh signals
The Euro eased from two-week high on the first trading day in 2023, in holiday-thinned market.
The action faces headwinds from falling weekly Ichimoku cloud and lacking momentum to break through Dec 15 peak (1.0736).
Near-term action is…
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Bulls are gaining traction for eventual break higher after a three-week pause
Gold regained traction after a bearish close on Wednesday, with fresh strength being driven by weaker dollar on Thursday.
The metal is on track to eventually register a weekly close above $1800, following a multiple failures in past four…
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