Activity in UK manufacturing sector slows sharply in August, adding to recession fears
Activity in Great Britain’s manufacturing sector slowed the most in over two years in August, adding to recession fears.
UK Manufacturing Purchasing Managers’ Index fell to 46.0 in August, hitting the lowest since May 2020, from 52.1 in…
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Dollar hits new two-decade high
The dollar index extends steep ascend from Aug 10/11 double-bottom (104.49) to probe through previous top at 109.12 (July 14) and hit new highest since Sep 2002.
The greenback remains well supported by safe-haven flows on concerns about…
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Euro pressures 2022 low, on track for the first close below parity in two decades
The Euro is establishing below parity level and is pressuring 2022 low at 0.9952, on track for the first daily close below 1 dollar since Nov 2002, following a false break in mid-July this year.
The sentiment remains increasingly negative,…
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Turkish lira is heading towards all-time low
Turkish lira remains under increased pressure and trading at the lowest since Dec 2021, additionally weighed by shock decision of the Turkish central bank to cut interest rate by 1% last Friday, despite inflation of almost 80% and new…
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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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