Bears are taking a breather above Fibo support at 1.1053
Cable starts the week in a quiet mode and holding within a narrow range above 1.1053 (Fibo 38.2% of 1.0348/1.1489 upleg / last Friday’s low) where the strong fall in past three days found temporary footstep.
Near-term structure…
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Better than expected US labor data in September fuel expectations for Fed’s another 0.75% rate hike
The report from the US labor sector showed that employers hired more workers than expected in September, while the unemployment fell to 3.5% from 3.7% previous month, pointing to tight labor market.
US non-farm payrolls rose to 263K in…
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Euro may fall further on robust US jobs data
The Euro edges higher in European trading on Friday, consolidating a sharp fall on Wed/Thu (2.04%).
Renewed risk aversion which dragged the euro lower, is likely to gain pace as markets expect a robust US jobs report that would give a…
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Dollar Index keeps firm tone ahead of key US jobs data
The dollar index is holding within a narrow consolidation in early Friday, following strong rally in past two days (up almost 2%) which retraced 50% of 114.72/109.95 pullback, adding to signals that corrective phase from new 20-year high…
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Near-term structure weakens after a double failure at 1.1500 barrier
Cable remains in red for the second day, pressured by weaker risk sentiment and downbeat report from the BoE, which showed raised expectations for inflation in one year time to 9.5% from 8.4% estimation in August and expectations for 4.8%…
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Double failure at parity raises risk of recovery stall
The Euro eased below 0.90 handle in early European trading on Thursday, weighed by Wednesday’s 1% drop, as dollar bulls regained traction on comments from Fed policymakers that the central bank is going to continue raising interest rates…
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OPEC+ cuts production by 2 million bpd, faces strong criticism from the West
The OPEC+ group of the largest oil producing nations announced its decision to cut the output by 2 million barrels per day, effective from November, with most of the burden of cuts to be taken by Saudi Arabia, UAE and Kuwait, as some of…
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EU business activity slows further in September
The Eurozone Composite Purchasing Managers’ Index, which tracks the activity in manufacturing and services sectors and is used as gauge of economic health, fell to 48.1 in September from 48.9 in August and missed expectations at 48.2.…
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Crude oil holds bullish stance ahead of OPEC+ decision
The WTI oil is consolidating within a narrow range on Wednesday, after the recent recovery rally peaked at $86.94 (the highest since Sep 15), taking a breather ahead of today’s OPEC+ meeting, which is expected to provide fresh signals.
The…
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Bulls face headwinds at 1.15 zone, looking for fresh signals
Bulls are taking a breather under new highest since Sep 15 as recent rally faced headwinds on approach to 1.1500 barrier.
Fundamentals work in favor of pound, as U-turn in government’s plan to cut tax to the highest rate of income boosted…
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