Profit-taking to lead to limited correction before larger bears regain control
WTI oil gained traction on Monday and returned above $90 per barrel, as traders collect profits from last week’s drop to the lowest in seven months, after bears failed to register a weekly close below pivotal Fibo support at $88.42 (Fibo…
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Gold continues to head south on rising dollar
Spot gold hits the lowest in almost one month on Monday, in extension of last week’s 3.05% fall, following a double weekly rejection at $1800 round-figure barrier.
The yellow metal remains under increased pressure on robust dollar,…
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Bulls are taking a breather after last week’s 2.6% rally
Bulls are consolidating at pivotal Fibo barrier at 137.26 (76.4% of 139.39/130.39 corrective leg) following last week’s 2.6% advance (the biggest weekly advance since the last week of May).
Dollar remains firm in risk aversion environment…
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Violation of key 1.1760 support to risk test of pandemic low at 1.1410
Cable remains firmly in red for the fourth straight day and hits five-week low on probe through 1.18 handle in European trading on Monday.
Bears look for retest of 2022 low at 1.1760, break of which would risk fresh extension towards…
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Bears are on track for retest of 2022 low
The Euro resumes strong fall of past two days and pressuring parity level in early Monday trading, following 2.1% drop last week.
Growing negative sentiment on continuous weak economic data from the EU that prompts traders into safety of…
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Bears accelerate towards 2022 low, on track for the biggest weekly fall in nearly two years
Cable extends sharp fall after eventual break of pivotal 1.20 support, pressured by growing concerns about inflation-growth puzzle which boosts fears that the economy is heading into recession and fresh hawkish comments from Fed…
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Turkey’s central bank cut interest rate by 1% despite record high inflation
Completely unexpected decision of the central bank of Turkey to cut its main interest rate 100 basis points to 13% shocked markets today.
The CBRT decision to further reduce its borrowing cost was seen as an action completely against the…
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German producer prices hit new record high in July
German producer prices, the indicator that measures the change in the price of goods sold by manufacturers and is seen as a leading indicator for inflation, soared by 37.2% in July following 32.7% rise in June and strongly overshot forecast…
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Bulls remain in play but face strong headwinds
The dollar index remains at the front foot, underpinned by dominating factors, such as high inflation, rising interest rates and global growth concerns.
Bounce from Aug 10/11 double-bottom (104.50) retraced 50% of corrective 109.12/104.50…
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Eurozone inflation hits new record high in July
Consumer prices in the bloc of 19 countries using euro, continued to rise in July with annualized inflation rising to new record high at 8.9%, from 8.6% in June and in line with expectations, while monthly inflation was up 0.1% after rising…
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