Euro loses traction but more evidence needed to signal recovery stall
The Euro remains at the back foot on Monday, weighed by weak EU PMI data and higher oil prices, as well as bloc’s record inflation, while last Friday’s bearish Doji candle generates initial warning that three-day recovery might be over.…
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Eurozone manufacturing sector activity slows further in September
Eurozone manufacturing Purchasing Managers’ Index fell to 48.4 in September, the lowest since July 2020, from 49.6 in August and missing forecast at 48.5.
The index stays in a contractionary zone below 50 threshold for the fifth…
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Break of pivotal Fibo barrier to open way for further advance
Cable extends advance into fifth straight day on Monday and extends above pivotal 1.12 zone (round-figure / Fibo 61.8% of 1.1738/1.0348), underpinned by the news that Britain would reverse plans to cut the highest rate of income tax, the…
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Bulls look for retest of new 24-year peak
The USDJPY is standing at the front foot in early Monday and probed again through 145 barrier, following last week’s bullish close (the seventh straight weekly gains) and monthly advance of 4.1% in September that marked the second…
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Record inflation dents recovery
The Euro loses traction on Friday following report about record Eurozone inflation in September that is expected to trigger more aggressive action from the ECB, with higher interest rates to negatively impact economic growth and increase…
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Inflation in Eurozone hits new record high at 10%
Eurozone inflation surged above expectations in September and hit new record high and a double-digit value at 10.0%. in acceleration from 9.1% in August and above consensus for 9.7% rise.
Although EU inflation surpassed forecasts, it did…
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Mixed surveys suggest that China’s economy struggles to regain traction
China’s official manufacturing purchasing managers’ index rose to 50.1 in September from 49.4% in August and above 49.6 forecast, while private manufacturing PMI survey, which typically covers smaller, export-oriented companies, showed a…
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German inflation hits the highest levels in 26 years in September
German inflation rose well above expectations in September, reaching the highest in over a quarter of a century, primarily driven by surging costs of energy, which increased by 43.9% compared to the same period last year.
Harmonized…
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Oil keeps firm tone on talks of OPEC+ production cut
The WTI oil price regained traction and rose to one-week high in mid-Thursday’s trading, advancing over $1 following drop in Asia / early Europe.
Fresh strength signals that recovery from new nine-months low ($76.35) keeps traction after…
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Bears regain control after bulls got trapped at pivotal Fibo barrier
The Euro returned to red in early Thursday’s trading and has already retraced a half of Wednesday’s 1.5% recovery rally, after traders reacted on oversold conditions.
It seems that bounce was short-lived, as recovery repeatedly failed to…
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