EU business activity contracts in July – PMI
Eurozone Composite Purchasing Managers’ Index, which tracks the activity in manufacturing and services sectors and is seen as a gauge of overall economic health, fell to 49.4 in July, hitting the lowest since March 2021, on fall from 52.0…
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Gains remain limited despite larger than expected ECB rate hike
The Euro made a large swings after ECB’s surprise 50 basis points rate hike, with initial reaction being positive, though the rally stalled again under pivotal barrier at 1.0283 (daily Kijun-sen / 50% retracement of 1.0614/0.9952).…
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ECB opts for more aggressive start of policy tightening to bring record inflation under control
The European Central Bank raised its key interest rates by 0.50% in July, partially surprising markets, as the central bank initially announced plans for 0.25% hike, but speculations of possibly more aggressive action already circulated the…
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Dollar bulls retake control for final attack at 140 target
The USDJPY rises on Thursday, confirming reversal signaled by a hammer candle on Tuesday, after Wednesday’s Doji questioned fresh bulls.
Bounce from correction low at 137.38 so far retraced over 61.8% of a shallow 139.39/137.38 pullback,…
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Oil prices slump on renewed demand worries
WTI oil price accelerates lower in European trading on Thursday (down 3.3% since Asian opening last night), after three-day recovery failed to sustain break above psychological $100 barrier.
Oil prices came under pressure from renewed…
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Gold cracks key support, pressured by signals of more aggressive major central banks
Spot gold extends weakness into second day as larger downtrend resumed after three-day consolidation and hit the lowest in one year on Thursday.
The metal came under increased pressure on signals that major central banks are likely to…
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ECB will start raising interest rates for the first time since 2011
The European Central Bank holds its monetary policy meeting today and is likely going to raise interest rates, the action that has not been seen since 2011.
The ECB was delaying rate hike for some time, despite the most of central banks…
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Bulls are pausing ahead of ECB
Strong recovery in past three days is taking a breather on Wednesday, as traders await this week’s key event – European Central bank policy meeting on Thursday.
The ECB is expected to raise interest rates for the first time since 2011,…
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Recovery continues to struggle at 1.20 barrier
Cable continues to face strong headwinds at psychological 1.20 barrier for the third consecutive day and eases below 1.20 level after hitting a session high at 1.2037.
Bulls already failed twice to sustain gains above 1.20 and on track for…
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Hammer candle suggest that correction might be over
The USDJPY is gaining traction on Wednesday as Tuesday’s hammer candle, left after rising daily Tenkan-sen (137.36) contained dips, signaling that pullback from new 24-year high (139.39) might be over.
Fresh bullish momentum on daily chart…
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