Gold price gains traction on relaxing China Covid curbs, weaker dollar
Gold price is establishing above psychological $1800 barrier and moving within the upper part of over three-week range.
Weaker dollar on renewed risk appetite, after China relaxed its Covid restriction, provide fresh boost to gold price on…
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WTI oil hits three-week high on improved sentiment
The WTI oil price rose above $80 per barrel and hit the highest level in three weeks on Tuesday, as the latest easing of Covid restriction on China improved the outlook for demand, while cuts to US energy production caused by winter storms…
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Aussie benefits from renewed risk sentiment
The Australian dollar rose further on Tuesday, driven by fresh risk appetite on optimistic news from China, which ended restrictive Covid rules and brightened the outlook with revised outlook for 2023 growth.
Fresh strength cracked…
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Recovery to face strong headwinds at strong1.0740 resistance zone
The Euro remains at the front foot in and continues a gradual extension higher after the pullback from December’s high at 1.0736 (posted on Dec 15, the highest in seven months), found solid ground at 1.0580 zone (broken Fibo 38.2% of…
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Bulls hold grip but continue to face strong headwinds
Bulls are consolidating under one-week high ($1821) posted after a 1.7% rally on Tuesday, with near-term action being biased higher, though bulls face headwinds and the action remains congested at this zone for the third straight week.…
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EURJPY – the biggest daily fall since mid-2016
The cross collapsed on Tuesday, following BOJ’s surprise, falling by 3.3%, in the biggest daily loss since 24 June 2016.
Sharp bearish acceleration generated strong bearish signals on break through significant supports at 140.89/76 (50%…
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Yen surges after BOJ’s surprise decision
The USDJPY was sharply lower in Asian / early European session on Tuesday (down around 3.3%) after the Bank of Japan left its interest rates unchanged but shocked markets by decision to widen the 10-yr bond yield movement from 25 basis…
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Risk of retesting $70 support rises as recovery lost traction
The WTI oil price heads lower for the second straight day, as sentiment soured on unexpected hawkish stance of three major central banks, though optimism on hopes about China’s demand recovery and fears on supply disruptions, remains alive.…
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Larger bulls to stay intact above daily Tenkan-sen
The Euro remains at the back foot in European trading on Friday, after Thursday’s drop and formation of bearish engulfing which weighs on near-term action.
Larger bulls lost traction on approach to pivotal Fibo barrier at 1.0746 (61.8% of…
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Cable dips further on renewed risk aversion
Cable remains in red on Friday and extends lower after nearly 2% drop on Thursday, pressured by renewed risk aversion after major central banks showed unexpectedly hawkish stance and prompted investors into safety of dollar.
Weaker than…
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