Fed remains on track for further rate hikes – FOMC minutes
The minutes of the Fed’s latest policy meeting on July 26-27 showed that the central bank remains on track for further policy tightening and raise interest rates as high as necessary, to bring soaring inflation under control, despite that…
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Bears remain in play on fears that aggressive BOE would negatively impact growth
Cable maintains negative tone and attacks 1.20 support in early Thursday following short-lived recovery attempts.
Pound came under fresh pressure after higher than expected July inflation (10.1% vs 9.8% f/c; the highest since 1982) that…
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US retail sales were flat in July, adding to recession fears
US retail sales were flat in July, missing expectations for a marginal growth by 0.1% and falling well below June’s downwardly revised 0.8% growth.
So-called core retail sales which exclude volatile items, such as gasoline, automobiles…
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Eurozone economic growth slightly eases in the second quarter, fears of deeper downturn remain
The economic growth in the Eurozone was a tad slower than expected in the second quarter, but remains strong, keeping the overall picture of growth dynamics in the first half of the year, with fresh rise in employment adding to positive…
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Aussie accelerates through 0.70 support ahead of US data, FOMC minutes
The Aussie dollar slips 0.8% vs its US counterpart in European trading on Wednesday, pressured by weaker than expected Australian wage growth data and falling iron ore prices.
Fresh bearish acceleration took out psychological 0.70 support…
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WTI price holds near 7-month low on renewed concerns about global growth
WTI oil price remains under pressure and holding near new seven-month low on Wednesday, following short-lived recovery attempt on Tuesday, which stalled at $90 zone.
The price action holds in red for the fourth straight day, driven by…
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Inflation in UK hits the double-digit value in July, posting the highest level in four decades
UK consumer prices continued to rise and jumped to 10.1% in July from 9.4% previous month and beating forecasts for extension to 9.8%.
Inflation hit the double-digit figure for the first time since early 1982, adding to growing fears of…
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German investor morale falls to the lowest in over two decades as soaring inflation fuels fears of…
German ZEW economic sentiment index which measures the level of investor morale, fell further in August, hitting -55.3, the lowest since late 2008, in extension from July’s -53.8 figure and identical consensus.
Data show that the…
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Dollar edges higher but still holding within a triangle
The USDJPY regained traction on Tuesday and resumed the upleg from Aug 11 trough (131.73).
Fresh bullish acceleration broke through important Fibo barrier at 133.83 (38.2% of 139.39/130.39) and pressuring the triangle resistance trendline…
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Cable remains at the back foot ahead of key UK inflation data
Bears extend into fourth consecutive day and probe through important support at 1.2026 (50% of 1.1760/1.2293 upleg / daily Kijun-sen), pressuring psychological 1.20 support.
Technical structure on daily chart is negative (MA’s in bearish…
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