Bears are pausing but need sustained break above 1.20 to generate initial reversal signal
Cable bounces on Thursday and probes levels above 1.20, after regaining traction on UK political news.
The top news of the day was a resignation of British Prime Minister Boris Johnson, who decided to step down after most of the ministers…
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Fed is ready to move interest rates as high as needed on growing fears that high inflation would…
The minutes of the Federal Open Market Committee June policy meeting showed that the US central bank is on track for further big rate hikes as soaring inflation hit 40-year high, increasing pressure on the economy.
The recent data showed…
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Key supports under pressure as Aussie remains weighed by soured risk sentiment
The AUDUSD remains in red and pressuring key supports at 0.6761/58 (new two-year low, posted yesterday / 50% retracement of 0.5509/0.8007 rally).
Soured risk sentiment on growing recession fears that boosted demand for safe-haven dollar,…
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Larger bulls likely to resume after extended consolidation
The USDJPY extends range trading into third consecutive week, as Doji candles in past two weeks signal strong indecision.
Repeated weekly upside rejection points to strong headwinds that bulls face, but the downside was so far well…
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Euro falls further after break of critical supports, eyes targets at 1.0069/00
The Euro extends steep fall, sparked by strong risk aversion on growing recession worries and boosted by a break of critical technical supports that signaled a continuation of larger downtrend from 2008 peak (1.6039).
Fresh weakness pushed…
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Repeated close below 1.20 to keep bears in play for further drop
Cable remains at the back foot but holding just above new 28-month low (1.1898) hit after Tuesday’s 1.37% drop).
Fresh bears cracked former low at 1.1933 (June 14) and 1.1930 (Oct 2016 low) but failed to register a daily close below on a…
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Eurozone retail sales increase in May but below expectations
Eurozone monthly retail sales rose by 0.2% in May after a sharp fall by 1.4% previous month, but missed expectations for 0.4% increase, while annualized figure showed an increase of 0.2%, compared to last year, overshooting forecasts for…
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Bulls take a breather under 20-year high ahead of Fed minutes
Bulls are taking a breather under new two-decade high, following Tuesday’s 1.3% rally, sparked by fresh risk aversion on recession fears, while the greenback remains underpinned by expectations aggressive Fed, as the US central bank has…
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Bears are consolidating after a 10% acceleration on Tuesday
WTI oil edges higher in early Wednesday after falling nearly 10% previous day (the biggest daily loss since Mar 9), as renewed supply concerns of growing recession signals slashed oil prices.
Profit-taking pushed the price higher, though…
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Gold falls to new 2022 low as dollar surges on risk aversion and rate hike bets
Spot gold lost ground on Tuesday and fell through psychological $1800 support (after two rejections on May 16 and July 1) hitting new 2022 low in the biggest one-day loss since Jun 13.
Growing expectations on aggressive rate hikes in the…
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