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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Dollar remains under strong pressure and extends weakness on Friday
The dollar index remains under strong pressure and extends weakness in European session on Friday, following 2.2% fall previous day, when the greenback was deflated by lower than expected US inflation rise in October that adds to hopes that…
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USDJPY – consolidation after strong fall on Thursday likely to precede further weakness
The USDJPY is consolidating in early Friday after suffering heavy losses on Thursday, when the pair was down 550 pips (3.8%) in the biggest one day drop since 1998.
The dollar was hit strongly by cooler than expected US Oct CPI data which…
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Euro accelerated higher after weaker than expected US inflation data
The euro rose strongly in the US session on Thursday, after lower than expected inflation in October signaled that US consumer prices may have peaked that would allow Fed to start reducing the pace of rate hiking.
Fresh bulls pushed the…
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US inflation eases below expectations in October
Consumer prices in the US grew less than expected in October, generating initial signal that inflation may have peaked that would prompt the Federal Reserve to start easing its robust interest rate hikes.
Monthly inflation remained…
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Fresh bears found a footstep above key support and eye US inflation data for signal
Cable is consolidating within a narrow range, following Wednesday’s 1.6% drop, which retraced over 50% of the recent 1.1146/1.1599 upleg.
Although a reversal pattern formed on a daily chart, fresh bears face strong headwinds from…
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Fed likely to stay on current policy path
The US Federal Reserve remains on a good path and committed to bring inflation back to 2% target, Minneapolis Fed President Kashkari said on Wednesday, but stressed that it’s still premature to discuss any shift away from the central bank’s…
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Dollar remains at the front foot but eyes US inflation data for stronger signal
The dollar index remains constructive in early Thursday’s trading, following Wednesday’s 0.65% bounce (the first bullish close after three days of heavy losses), after the action was repeatedly rejected at ley support at 109.35 (Oct 27 low)…
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