UK Chancellor Hunt introduces new budget plan with more tax hikes and tighter public spending
British finance minister Jeremy Hunt announced tough budget plan with a series of tax increases and tighter public spending, arguing decision by need to restore country’s fiscal reputation, which was blown by the measures brought by former…
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Eurozone inflation ticks lower in October but remains near record high
Inflation in the 19 countries sharing Euro was a tad lowed at 10.6% y/y in October, vs expectations to remain unchanged from the previous month’s 10.7%, while monthly CPI rose to 1.5% last month from 1.2% in September, in line with…
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Dollar looks for fresh direction signals to exit near-term sideways mode from mixed economic data
Bears are pausing for the second day after being accelerated by lower than expected inflation numbers which suggested that the Fed may ease its aggressive policy tightening stance, but better than expected US retail sales in October…
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Double failure at 200DMA and overbought conditions warn of pullback
The Euro is trading within a narrow range in early Thursday’s and still constructive, but warnings about bulls running out of steam are growing.
Long upper shadows of daily candles in past two days and double failure to register daily…
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UK inflation hits new multi-decade high in October
Britain’s consumer prices rose further in October, with annualized figure jumping to 11.1% from 10.1% previous month and beating forecast for 10.7% increase.
The headline inflation rose in October at the fastest pace since 1977, hitting…
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Cable cracks psychological 1.20 barrier
Cable dented psychological 1.20 barrier and traded above this level for the first time since mid- August, in fresh acceleration higher after bulls paused for consolidation on Monday.
Weaker dollar on better than expected US PPI data which…
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Euro hits multi-month high on probe above 200DMA, but correction likely to precede further advance
The Euro resumed its steep uptrend after bulls took a brief breather on Monday and cracked 200DMA (1.0428), hitting the highest in 4 ½ months.
Fresh advance peaked at 1.0481, just ahead of barriers at 1.0491 /1.0500 (Fibo 76.4% of…
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The European Central bank likely to continue raising rates above 2%
The European Central Bank is expected to continue to raise its interest rates above 2% level, but unlikely to resume hikes in a big size as it did in past few policy meetings.
The ECB has raised interest rates by a total of 200 basis…
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Aussie hits two-month high in extension of steep ascend
The Australian dollar rose to two-month high on Tuesday, in extension of the latest strong bullish acceleration, lifted by renewed risk sentiment on significantly weaker US dollar.
The pair is running on extended third wave of five-wave…
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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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