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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Oil price surges on weaker dollar and persisting supply risks
WTI oil price rose strongly on Friday, advancing 3.3% in the mid-European session, lifted by stronger dollar and persisting supply risks, though China’s Covid restrictions and recession fears continue to weigh and may limit gains.
Friday’s…
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Eurozone business activity slows further in October, boosting fears of recession
The Eurozone Composite Purchasing Managers’ Index, which tracks the activity in both, manufacturing and services sectors and is used as a gauge of economic health, dropped to 47.3 in October (the lowest in nearly two years), from 48.1 in…
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Bears take a breather ahead of US job report
Cable edges higher in early Friday as traders collect profits after bearish acceleration below 1.15 handle in past two days found footstep at solid Fibo support at 1.1150 (38.2% of 1.0348/1.1645).
The pound is weighed by BoE’s gloomy…
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