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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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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