Gold hits 2.5 year low on fresh dollar’s rally
Spot gold falls to the lowest since April 2020 on Friday, with bearish acceleration being sparked by a combination of negative factors from fresh rise of the dollar to new 20-year high to signals that the Fed will stick to its aggressive…
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WTI oil collapses to 8-month low on growing recession fears
WTI oil price tumbled on Friday, hitting the lowest levels since early January, as dollar spiked to new 20-year high and growing demand fears as sharp increase of interest rates is driving major economies into recession.
The contract was…
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Sterling falls to new multi-year low after disappointing data further soured the sentiment
Cable accelerates below 1.12 mark on Friday and hit new lowest since 1985, in extension of steep bear-leg from 1.1738 (Sep 13 lower top), which is a part of larger downtrend from 1.4249 (June 2021 peak.
The action in Asian and early…
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Euro hits new 20-year low, on track for further losses
The Euro returns to red on Friday and extends below 0.98 handle, to hit new 20-year low after bears paused previous day, due to Japan’s intervention in FX market to support yen that temporarily deflated the dollar.
Thursday’s action ended…
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The Bank of England raises rates by 0.5% despite looming recession
The Bank of England raised its key interest rates by 50 basis points to 2.25%, in a widely expected action and repeated it would continue to respond forcefully as necessary to rising inflation, despite that rise in borrowing cost would slow…
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Turkish central bank surprises by another 100 basis points rate cut
Turkish lira hits new all-time low vs dollar following another surprise from Turkey’s central bank, which delivered a 100 basis points rate cut on its policy meeting today.
The central bank brought its benchmark interest rate to 12%,…
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Yen surges across the board on Japan’s intervention in FX market
Japanese yen was sharply up against its major counterparts in mid-European session on Thursday as Japan intervened in FX market to support its weakening currency, as weak yen was raising import costs and threatening to hurt consumption.…
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Hawkish Fed and dovish BOJ lift USDJPY
The USDJPY surges through 145 barrier in early Thursday’s trading and posts new 24-year high, inflated by hawkish Fed and repeatedly dovish stance from BOJ, which kept its ultra-easy policy and sent quite mild signals about possible…
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The Euro falls to new 20-year low after Fed, risks deeper drop
The Euro remains heavy in early Thursday’s trading and hit new marginally lower 20-year low, following 1.3% drop on Wednesday.
The sentiment was soured by growing geopolitical tensions, with hawkish Fed adding pressure on the single…
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Fed raises interest rate by 0.75%, expects more large hikes in 2022
The US Federal Reserve raised its key overnight interest rate by 75 basis points to the range of 3.00%-3.25%, mainly in line with expectations and disappointing a small percentage of those who bet for more aggressive action and rate hike by…
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