Solid UK jobs data additionally support recovery
Cable keeps positive tone and attacks again pivotal 1.20 resistance zone (psychological / Fibo 38.2% of 1.2406/1.1760 bear-leg / trendline resistance), after Monday’s action spiked to 1.2033 but failed to sustain gains and closed below…
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Bears lose traction on weak dollar and signals of less hawkish Fed, but still hold grip
Spot gold edges higher on Monday after hitting the lowest in almost one year last week, being deflated by rising dollar on expectations of aggressive Fed in its July policy meeting.
The US central bank announced it will likely raise…
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Oil prices rebound after a false break through key supports; weaker dollar and supply concerns…
WTI oil price accelerated through $100 barrier on Monday, extending recovery from last Thursday’s spike low at $90.54 into third straight day.
Oil received fresh support from weaker dollar and renewed supply concerns that offset worries…
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Recovery accelerates but underlying bears warn of limited correction
The extends rebound from new 20-year low (0.9952) int second consecutive day, following failure to clearly break below parity level that left a hammer candle last Thursday and generated initial reversal signal.
The Euro was boosted by…
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Shallow dips to precede fresh push higher
The USDJPY extends pullback from new 24-year high on Monday, as dollar bulls take a breather, but the action so far looks like adjustment which should provide better levels to re-enter firmly bullish market.
The greenback was deflated…
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Bears are pausing but recovery likely to be limited
Cable regained traction and accelerated higher in early Monday trading, on revived risk sentiment after US policymakers cooled down expectations for Fed’s jumbo 1% rate hike in late July policy meeting that was speculated last week after…
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US Retail Sales rise above expectations in June despite record high fuel prices
US retail sales increased by 1% in June from upwardly revised May’s figure at -0.1% and beat forecast for 0.8% rise.
Retail sales, which exclude automobiles, gasoline, building materials and food services and more closely correspond with…
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Bulls are taking a breather under new 20-year high
The dollar index is trading just under new highest since Sep 2002, hit on Thursday’s acceleration above 109.00 mark.
The greenback remains well supported by strong risk aversion on global economic and political uncertainty, while the…
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China’s economy slows significantly in the second quarter
China’s economic growth slowed well below expectations in the second quarter, impacted by the recent Covid restrictions in some regions of the country that hurt industrial activity, while the war in Ukraine and global supply shortages added…
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Euro probes below parity but break needs to be verified
The EURUSD eventually broke below parity and hit new lowest since 2002 at 0.9952, after hovering around this level in past three days.
Although break of parity needs a confirmation on repeated close below this level, strong negative signal…
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