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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Euro remains under pressure on global growth worries and probes again through pivotal Fibo support
The Euro remains under increased pressure for the third straight day, driven by risk aversion on renewed worries about slower global growth.
Downbeat China’s industrial production and retail sales data, PBOC rate cut and unexpected strong…
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Oil prices fall due to foggy expectations, but are preparing for weekly gains
Oil prices fell in Asian session on Friday amid an uncertain demand outlook, although benchmark contracts are headed for weekly gains as recession fears ease.
Brent crude futures are down 49 cents, a barrel, while US crude are down 50…
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The rise of the dollar and the decline of the sterling
The US dollar rose in early European trade on Friday, rebounding somewhat after a two-day sell-off as weaker-than-expected inflation data led to a rethink of the Federal Reserve's potential tightening path.
The dollar's weakness is…
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Gold Slips as Risk Appetite Improves, Copper Hits 5-Week High
Gold prices fell on Thursday as fears of a US recession eased by weak inflation data, but copper prices held to a five-week high as the dollar weakened.
As of 2113 ET (0113 GMT), spot gold fell 0.1% to $1,789.91, while gold futures were…
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