WTI falls to 11-month low as sentiment sours further
WTI oil price fell 3% and hit the lowest levels since late December 2021, in early Monday’s trading.
The sentiment remains weak and was further soured by Sunday’s protest in Shanghai over China’s strict Covid measures, boosting concerns…
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Dow remains firm as traders focus on Black Friday
The Dow Jones is trading just under new multi-month high and moving within a narrow range for the second straight day, in a holiday-thinned market.
Traders were mainly on hold for Thanksgiving, but closely watch major retailers on Black…
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Dovish Fed and safe-haven buying underpin gold price
Gold price edges lower in European trading on Friday, after the action repeatedly failed at 10DMA ($1756), with daily techs remaining bullishly aligned after a pullback from Nov 15 peak ($1786) found firm ground just above pivotal Fibo…
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Slight optimism prevails after better than expected German Q3 GDP data
The German Gross Domestic Product data, released today, showed the economy grew by 1.2% on the year in the third quarter, compared to 1.7% expansion in the previous three-month period and slightly above consensus for 1.1% growth.…
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Dollar comes under increased pressure after dovish Fed minutes
The dollar index came under increased pressure on Thursday after overall soft US data and dovish Fed minutes further soured the sentiment that resulted in gap-lower opening and fresh extension to seven-day low.
The dollar remains firmly in…
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Cable hits new multi-month high as larger bulls resume
Cable extends advance above 1.21 mark on Thursday, hitting the highest since mid-August, following Wednesday’s 1.4% rally, which resulted in close above pivotal barriers at 1.2000/28 (psychological / former high of Nov 15.
Fresh advance…
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USDJPY on track for deeper fall after break of key supports
The USDJPY remains under increased pressure and extending weakness into third straight day, after recovery failed to sustain break above 100DMA (141.13) and fresh bears emerged below ascending thick daily cloud, after recent actions were…
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German business morale rises above expectations – Ifo
German Ifo business climate index rose to 86.3 in November from upwardly revised October’s figure at 84.5 and beating forecast at 85.0.
Better than expected November figures signal that German business morale rises and that economy is…
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Slowdown in rate hikes seen likely in the near future – Fed minutes
The minutes from the US Federal Reserve policy meeting on November 1-2 showed that a substantial majority of policymakers think that slowing the pace of interest rate hikes would soon likely be appropriate, on initial signs of satisfactory…
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Dollar comes under pressure from hawkish ECB and expectations for softer rhetoric from Fed
The dollar index accelerated lower on Wednesday, extending weakness into second straight day, signaling that recent recovery is likely over as fresh weakness retraced over 61.8% of 105.15/107.88 corrective leg.
Hawkish comments from the…
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