Cable holds positive tone but still lacks strength for final push through 1.20 barrier
Cable remains constructive on Friday after Thursday’ strong fall was partially reversed, though continues to trade within a narrow-range sideways mode which extends into third consecutive day.
Strong upside rejection above 1.20 barrier on…
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British retail sales rise above expectations in October but outlook remains clouded
UK retail sales dropped by 6.1% in the twelve months to October, better than the forecasted fall of 6.5% and vs upwardly revised September’s 6.8% drop, while monthly figure showed rise by 0.6% in October vs consensus for 0.3% increase and…
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Bear-trap underpins but the action remains capped by 100DMA
The USDJPY is holding in extended directionless mode, consolidating around 140 handle after last week’s heavy losses (the pair was down 5.7% for the week).
Sharp fall found firm ground at 138.62/14 zone (base of ascending thick daily cloud…
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Bears are on track for a weekly drop of around 8%
WTI oil is consolidating within a narrow range in early Friday’s trading after bears accelerated on Thursday, pushing the price down nearly 4% for the day.
Oil came under fresh pressure on concerns about weakening demand in China, world’s…
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Cable loses ground after bulls got trapped above 1.20 barrier
Cable was down almost two full figures from early European to early US session, as UK finance minister unveiled tough budget, which includes tax increases and tighter public spending, while downwardly revised projections warn of prolonged…
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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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