Reversal pattern is forming on weekly chart and oil prices can fall more on easing geopolitical…
WTI oil extends pullback from new 7-year high and holding comfortably below psychological $90 level, on track for the first bearish weekly close (down over 6% for the week) after rallying for eight consecutive weeks.
From the fundamental…
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Aussie rises to one-week high on positive fundamentals
The Australian dollar remains bid and on track for the third straight weekly gains, underpinned by Australia’s reopening after long period of restrictive measures as the number of Covid cases dropped significantly.
News that US and…
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Near-term action remains negatively aligned below falling 10DMA
The Euro is trading in a choppy sideways mode in European session on Friday, with near-term action being weighed down by south-heading 10DMA which capped upticks in past two days and fading bullish momentum on daily chart.
Fresh…
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Cable establishes above 1.36 pivot, additionally supported by upbeat UK retail sales
Cable maintains firm tone and stays above broken 1.3600 barrier in early Friday, extending advance into fourth straight day and on track for the third consecutive bullish weekly close.
Pound remains underpinned by expectations of BoE rate…
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Gold price surges on renewed geopolitical tensions
Spot gold advanced 1.4% on Thursday and hit new 8-month high, as renewed tensions over Ukraine and less hawkish than expected Fed minutes, boosted demand for safe-haven metal.
Fresh acceleration came ticks ahead of psychological $1900…
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US jobless claims unexpectedly increased in January
The US weekly jobless claims unexpectedly rose last week, increasing 23,000 to 248,000, beating forecast for 219,000 increase and remaining above previous week’s figure, upwardly revised to 225,000.
Although the number of Americans…
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The dollar remains at the back foot after less hawkish than expected Fed minutes
The dollar was deflated in European trading on Thursday and entered the US session in red after traders digested Fed’s minutes of January policy meeting and judged that the central bank’s outlook was less hawkish than expected.
Although…
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Fed is committed to start raising interest rates to fight high inflation, but policymakers are not…
The minutes of US Federal Reserve Jan 25/26 policy meeting showed that the central bank is ready to start raising interest rates, as inflation tightens its grip, and the labor market remains strong.
Fed officials said that it would be…
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Gold holds firm tone ahead of Fed minutes
Spot gold regained traction on Wednesday and bounced 0.5% following Tuesday’s 1% drop, keeping steady tone on strong demand as safe haven against geopolitical tensions and a hedge against inflation.
Traders await release of Fed minutes of…
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US retail sales rise well above expectations in January after strong decline in December
US retail sales surged 3.8% in January, following December’s decline (downwardly revised from -1.9% to -2.5%) and strongly beat forecast for 2.0% rise.
Strong rebound in January was sparked by surge in purchases mainly of motor vehicles…
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