The EU policymakers remain optimistic despite growing fears of recession
The European Central Bank policymakers officially expressed optimism about further economic growth in their annual meeting in Portugal, but the tone was more pessimistic at the margins of the gathering, as soaring inflation and darkening…
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China’s economic activity regains speed after three months of lockdown – PMI
China’s manufacturing Purchasing Managers’ Index rose to 50.2 in June from 49.6 in May, slightly missing forecast at 50.5; Services PMI jumped to the highest in one year at 54.7 from 47.8 previous month, while Composite PMI which tracks the…
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Growing risk of a double-digit inflation and recession pressures British economy
The UK economy is under pressure from two major risks – expectations that soaring inflation will soon reach a double-digit level and a possible recession.
The rising inflation, which was initially thought to be a temporary phenomenon,…
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Bears start to regain control after repeated upside rejections but still need a confirmation
Repeated failure at the base of a daily cloud and subsequent drop on Tuesday (0.6%) that registered a marginal close below 10DMA (1.0537) generated initial signal of recovery stall, though the action on Wednesday is again without direction.…
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EURCHF approaches parity level
The EURCHF remains in firmly red and hits the lowest since March 7 on Wednesday, with parity level being in focus.
The Swiss franc continues to benefit from the recent shift in the Swiss National Bank’s monetary policy as the central bank…
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Signals of an end of extended directionless mode still require a confirmation
Cable is holding within a narrow consolidation in European trading on Wednesday, following Tuesday’s 0.64% drop, which generated an initial signal of an end of a multi-day directionless mode.
Fresh weakness touched strong supports at…
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Aussie remains capped by 10DMA, keeping bearish bias
The Aussie dollar eases from one-week high on Tuesday after failing to benefit more from positive news that China slashed Covid quarantine for international travelers.
The price action fell back below 10DMA (0.6951) which caps the price…
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Bulls look for a break through multi-year highs but may take some time for further consolidation
Shallow pullback from new multi-year high (136.70) found solid ground at 134.26 (Fibo 23.6% of 126.36/136.70) and subsequent bounce accelerated on Tuesday, retracing over 76.4% of 136.70/134.26 pullback, and confirming that bulls regained…
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Thick daily Ichimoku cloud continues to limit recovery
Although the Euro stands at the front foot and continues to attempt higher, the recovery remains questioned, as thick daily cloud continues to limit the action for the sixth straight day, while falling 55 DMA (1.0614) additionally weighs.…
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Oil price rises on renewed supply concerns
WTI oil advanced around $8 in a strong recovery that extends into third straight day, lifted by renewed supply concerns.
Growing worries that OPEC members Saudi Arabia and United Arab Emirates, the only two cartel-member countries with…
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