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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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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