Bears remain firmly in play on demand worries and reinforced by daily bearish engulfing
WTI oil remains in red in early Tuesday’s trading and extends Monday’s strong fall (down 4.1% for the day).
The oil prices came under increased pressure on news of rising Covid cases in China, which revived demand worries and add to…
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China’s industrial production slows in October on Covid restrictions
China’s industrial output grew by 5.0% in October, following 6.3% expansion in September and fell below 5.2% forecast, with Covid restrictions being one of the key factors to be blamed for the slowdown.
The separate report showed Chinese…
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Gold keep firm bullish stance but overbought studies warn
Spot gold dipped some $20 on Monday, following a gap lower opening, but managed to regain traction and probe above last Friday’s peak ($1772), hitting new highest in nearly three months.
The yellow metal advanced nearly 6% last week on…
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Eurozone industrial production rose well above expectations in September
Eurozone industrial production rose by 0.9% m/m in September, compared to upwardly revised Aug figure at 2.0% but strongly beat forecast for 0.3% rise.
Annualized figure showed that industrial output accelerated strongly, rising by 4.9%…
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Bears are pausing after strong acceleration, but expected to keep control while daily cloud base…
The dollar index edges higher in Asian / early European trading on Monday, after the greenback lost ground and fell over 4% last week, on growing expectations that cooler inflation would prompt Fed to ease its aggressive stance in policy…
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Bounce after last week’s massive losses to offer better levels to join bearish market
The USDJPY regained traction and bounces on Monday after 5.7% fall last week, as bears lost traction at key Fibo support at 138.62 (61.8% of 130.39/151.94) and ahead of next key level at 138.14 (base of thick daily Ichimoku cloud).
Rebound…
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Consolidation likely to precede push towards 1.20 target
Cable is consolidating under new multi-week high (1.1854) reinforced by cracked Fibo 76.4% of 1.2293/1.0348 (1.1834), where last week’s strong rally faced headwinds.
Bulls remain firmly in play despite overextended daily studies, boosted…
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Bulls are taking a breather after the biggest weekly rally since March 2020
Bulls are taking a breather in early Monday’s trading following strong rally last week (up 4.5% for the week, the biggest weekly gains since mid-March 2020).
Last week’s acceleration of the recovery from new 20-year low (0.9535) was mainly…
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Gold benefits from weaker dollar, on track for the biggest weekly gains in over two years
Gold keeps firm bullish tone on Friday and extends strong rally from $1616 (Nov 3) low, trading at the highest levels since mid-August.
The yellow metal’s price accelerated sharply higher on talks that the Fed may ease its hawkish policy,…
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Weekly bullish engulfing adds to positive near-term outlook
Cable keeps positive tone following Thursday’s 3.3% rally, which generated an additional bullish signal on close above descending 100DMA (1.1658).
Weaker dollar keeps pound inflated and bulls focus target at 1.1834 (Fibo 76.4% of…
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