ECB to keep raising rates despite rising recession risks – Christine Lagarde
The President on the European Central Bank, Christine Lagarde, said in an interview, published today, that the ECB must continue raising interest rates, even in the situation of increased threats that the euro zone is sliding into…
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RBA raises interest rate by 25 basis points, continues with slower pace of hikes
The Reserve Bank of Australia raised its cash rate by 25 basis points in today’s policy meeting, extending slower pace of rate hikes into second consecutive month, but revised its inflation outlook, signaling that more hikes will be needed…
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USDJPY may rally further if Fed keeps aggressive stance
Completion of reversal pattern on daily chart signals that corrective pullback from new 32-year high (151.94) is over (following limited reaction from the latest intervention when Japan spent record amount to support weakening yen), as…
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Aussie holds in red ahead RBA policy meeting
The Australian dollar remains at the back foot and extends pullback from Oct 27 recovery high at 0.6522, into third consecutive day, pressured by renewed risk aversion.
Violation of pivotal Fibo support at 0.6387 (38.2% of 0.6170/0.6522…
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Euro loses ground on stronger dollar and new record high EU inflation
The Euro accelerated lower on Monday as increase dollar longs in anticipation of another hawkish action by Fed on Nov 2 policy meeting and weighed by fresh rise of inflation in the Eurozone that threatens of deepening of crisis in the bloc.…
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Eurozone inflation rises to new record high in October
Inflation in the bloc of 19 countries sharing Euro hit new record high in October, rising to 10.7% from 9.9% previous month and well above consensus to 10.2% rise.
Fresh rise in consumer prices was mainly fueled by soaring energy and…
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China’s manufacturing and services activity slows unexpectedly in October
China’s manufacturing purchasing managers’ index fell to 49.2% in October from 50.1 in September and below 50.0 forecast, while the activity in the services sector slowed more, as services PMI collapsed to 48.7 from 50.6 previous month and…
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Oil loses traction on China’s Covid measures; weak economic data
WTI oil starts week in red, dropping 2.1% in early Monday’s trading, as sentiment was soured by weak China’s manufacturing data and widening Covid restrictions, threatening of slower demand from the world’s second largest economy and…
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Dollar keeps firm tone on renewed hopes that Fed will remain aggressive on monetary policy
The dollar extends rally into third straight day Monday, advancing around 0.4% in Asia / early Europe on Monday.
The greenback received fresh support from renewed hopes that the Fed will remain on aggressive mode on November policy meeting…
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Gold price eases on revived expectations that Fed will keep its strong hawkish stance
Spot gold price was down around 1.5% by early US trading on Friday, pressured by stronger dollar on growing expectations that the Fed will deliver another 75 basis point hike in the policy meeting next week.
Optimism on further policy…
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