Turkey’s inflation rises to 20-year high at 54.4% in February
Annualized inflation in Turkey rose to 20-year high at 54.4% in February, from 48.6% previous month and beat forecast for 52.9% increase, while monthly consumer prices increased to 4.8% vs 3.8% consensus and January’s 1.01% rise.
Strong…
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Bulls are taking a breather but gold remains supported by risk aversion and less hawkish Fed
Spot gold is trading within a narrow range on Thursday, with the action being so far shaped in a Doji candle, signaling near-term indecision.
The metal remains supported by the uncertainty over the war in Ukraine, while less hawkish than…
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Sterling remains resilient but bears dominate below daily cloud
Cable trades within the range for the fifth straight day and resilient despite strong selling in past five days, but the near-term action remains biased lower on risk aversion over the war in Ukraine and growing concerns about the…
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Bears tighten grip and resume after a brief pause
The Euro comes under fresh pressure on Thursday and probes again below 2022 low at 1.1121 (Jan 28) after several attempts failed to register a clear break lower.
Deteriorating geopolitical situation on continuing clashes in Ukraine, fears…
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EU unemployment falls to record low, but producer prices soar on rising energy cost
The Eurozone unemployment fell to 6.8% of the workforce in January from 7.0% in December and also beat the expectations for a drop to 6.9%, hitting the record low of the bloc of 19 countries sharing the Euro.
Drop in unemployment signals…
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Oil prices at the highest levels since 2008, psychological $120 barrier comes in focus
WTI oil continues to rise strongly and standing around $116 per barrel in early Thursday’s trading.
Extremely volatile market conditions are unlikely to ease as war in Ukraine extends into eight day, boosting turmoil in the global energy…
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Hiring in the US private sector increases above expectations in February
The US ADP National employment report showed that payrolls in private sector increased by 475,000 jobs I February, beating forecast for increase by 378,000, but remained below January’s strongly upwardly revised figure to 509,000 from…
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Dollar continues to benefit from risk aversion but the outlook for Fed’s next steps is highly…
The dollar index remains firm and posted new marginally higher high on Wednesday (97.82, the highest since May 2020) remaining strongly supported by rising uncertainty, as fights in Ukraine extend into seventh day, with no signs…
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GBPUSD remains in negative mode and cracks 1.33 Fibo support
Cable probed below 1.33 mark and cracked 2022 low (1.3272) posted on Feb 24 when war in Ukraine started but failed to sustain break and holding above pivotal 1.33 level (Fibo 76.4% of 1.3161/1.3748) so far.
Near-term outlook remains grim,…
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Eurozone inflations hits new record high
Eurozone inflation soared to 5.8% in February from 5.1% in January and strongly beat expectations for 5.3% rise, bringing fresh headache to the households as well as the European Central Bank.
So-called core inflation, which excludes…
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