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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Oil prices fall 4.5% on growing expectations for large US rate hike / demand concerns
WTI oil price slumped on Thursday, being down over 4.5% for the day, driven by further rise of the dollar on prospects of larger than expected US rate hike, on central bank’s policy meeting due later this month.
Also, growing fears of…
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Rising pressure on Euro suggests that final break below parity is near
The Euro is hovering just above parity level for the third consecutive day, with this critical support being dented but bears were so far unable to break lower.
Limited upticks show that downside pressure is strong, though headwinds from…
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Fresh speculations that Fed may opt for 1% rate hike lift dollar
The USDJPY accelerated higher in Asia / early Europe on Thursday, gaining over 1% and hitting new 24-year high, lifted by expectations for another big rate hike by Fed, as well as increased safe-haven demand on growing fears of a recession.…
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The Bank of Canada raises interest rate by 1% – the hike size last seen in 1998
The Bank of Canada surprised by decision to raise its interest rate by 100 basis points on today’s policy meeting, as markets expected 0.75% hike, in the action last seen in August 1998, when the central bank was defending its currency.…
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