Aussie keeps firm tone despite weak economic data
The Australian dollar edges lower from new highest in nearly two weeks in early Tuesday, consolidating strong rally in past two days.
Overbought conditions on daily chart prompted a partial profit taking, though near-term structure remains…
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Bulls are consolidating ahead of fresh push higher
Bulls are taking a breather for consolidation after advancing 2.7% in past two days (Friday’s rally was the biggest daily gain since June 2016).
Initial strong bullish signal was generated on Friday’s close above thick daily cloud and…
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China’s trade contracts as Covid restrictions and global slowdown hurt demand
China’s exports contracted by 0.3% in October after rising by 5.7% in September and strongly missing forecast for 4.3% growth, while Imports fell by 0.7% in October vs 0.1% expansion forecasted and previous month’s 0.3% growth.…
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Oil holds bullish tone after Friday’s 5.3% rally
WTI oil price regained traction after a gap-lower opening and subsequent dip on Monday, pressuring last Friday’s three-week high, posted after Friday’s 5.3% rally.
Signals that the Fed may ease its firm hawkish stance in tightening…
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Bulls are taking a breather but remain in play on hopes of less aggressive Fed
Spot gold holds firm bullish stance and consolidating under three-week high, posted after 3.2% rally on Friday (the biggest one-day rally since 24 June 2016), sparked by US labor data which raised hopes that the Fed may ease its aggressive…
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Cable extends advance, eyes 1.15 barrier
Cable surges above 1.14 handle in European trading on Monday, in extension of Friday’s bounce from strong support at 1.1150 (Fibo 38.2% of 1.0348/1.1645) where a double bottom was left.
Fresh advance was sparked by renewed risk mode and so…
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Dollar keeps weak tone, boosting fears of reversal
The dollar turns to red in early Europe after initial gains in Asia on Monday and probes again through cracked Fibo support at 146.85 (23.6% of 130.39/151.94 ascend).
Renewed risk sentiment keeps the dollar under pressure, as traders focus…
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Euro remains firm after Friday’s 2.1% advance on renewed risk appetite
The Euro keeps firm tone at the beginning of the week and consolidating after 2.1% rally on Friday (the biggest daily advance in six years), sparked by renewed risk appetite on speculations that China could soon end its Covid restrictions,…
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Dollar loses ground after mixed US job report
The dollar index was sharply lower after mixed US labor data which showed hiring above expectations in October, but higher unemployment and lower wage inflation, warning that job growth may slow in coming months.
Although the data suggest…
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US non-farm payrolls beat expectations in October, unemployment rises to 3.7%
US non-farm payrolls increased by 261,000 in October vs consensus for 200,000 rise, while September’s figure was revised upwards, showing 315,000 jobs added last month, compared to initially reported 263,000.
The same report showed an…
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