Cable in a mixed mode on conflicting UK fundamentals, awaiting US inflation data
Cable is consolidating above two important supports at 1.1053/50 (Fibo 38.2% of 1.0348/1.1490 / psychological) following a short-lived dip below these levels and a quick rebound on Wednesday.
Near-term sentiment is mixed, as the Bank of…
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USDJPY rises to new multi-year high, eyes 1998 peak
Fresh bullish acceleration broke above previous 24-year peak at 145.90, pushing the price to new multi-year highs in European trading on Wednesday.
Bullish continuation after a limited pullback, sparked by Japan’s intervention in…
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UK economy contracts in August, adding to risk of recession
The UK gross domestic product data showed that the economy contracted by 0.3% in August, against expectations for zero growth and vs 0.2% expansion in July.
Annualized figure pointed to continuous and strong slowdown in economic growth,…
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Gold extends steep downtrend as dollar firms
Spot gold hits one-week low in European trading on Tuesday, in extension of Monday’s 1.6% fall, holding in a steep downtrend for the fifth straight day.
Near-term action remains pressured by risk aversion that continues to lift dollar, in…
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Bulls look for a break of new 24-year high
The USDJPY is trading just ticks ahead of new 24-year high (145.90, posted on Sep 22) in European session on Tuesday.
Bulls regained traction after a quick pullback from 145.90 peak found firm ground just above psychological 140.00 support…
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Broad risk aversion pushes Aussie to new multi-month low
The Australian dollar extend the bear-leg from Oct 4 lower top (0.6547) into sixth straight day, hitting the lowest since Apr 2020, in early Tuesday’s trading.
Broad risk-off mode on economic uncertainty and growing geopolitical tensions…
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Bulls face strong headwinds from falling daily cloud
WTI oil price eases in early Monday, following strong acceleration on Friday and last week’s 15% advance (the biggest weekly rally since the last week of February).
Traders start to collect profits as daily studies are overbought and…
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Bears are taking a breather above Fibo support at 1.1053
Cable starts the week in a quiet mode and holding within a narrow range above 1.1053 (Fibo 38.2% of 1.0348/1.1489 upleg / last Friday’s low) where the strong fall in past three days found temporary footstep.
Near-term structure…
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Better than expected US labor data in September fuel expectations for Fed’s another 0.75% rate hike
The report from the US labor sector showed that employers hired more workers than expected in September, while the unemployment fell to 3.5% from 3.7% previous month, pointing to tight labor market.
US non-farm payrolls rose to 263K in…
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Euro may fall further on robust US jobs data
The Euro edges higher in European trading on Friday, consolidating a sharp fall on Wed/Thu (2.04%).
Renewed risk aversion which dragged the euro lower, is likely to gain pace as markets expect a robust US jobs report that would give a…
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