US jobs grew above expectations in June, unemployment unchanged near pre-pandemic lows
US non-farm payrolls rose by 372,000 in June, well above expectations for 268,000 increase and remained near May’s downwardly-revised 384,000, with slight slowdown being mainly caused by the seasonal factors
Solid figures show that US…
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Bears are taking a breather but gold is on track for the fourth straight weekly drop
Spot gold stands at the back foot on Friday and holding in extended consolidation above new multi-month low ($1732) but holding bearish bias.
The metal is on track for the fourth consecutive weekly drop, with this week’s fall being the…
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Dollar accelerates higher, eyes fresh support from US job report
The dollar index resumes a steep ascend after a brief pause on Thursday, boosted by strong safe-haven demand on economic and political uncertainty.
The index hit new highest since Oct 2002 and eyes pivotal Fibo barrier at 109.14 (76.4% of…
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Bears pressure critical supports
The Euro continues to trend lower and dips below 1.01 support in early Friday, hitting new lowest in two decades, driven by strong risk aversion that keeps the EURUSD pair in strong defensive and on track for the biggest weekly loss since…
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US labor market growth likely slowed in June, unemployment to remain at 2-year low
US non-farm payrolls likely increased by 268,000 in June, following 390,000 rise in May that would be slightly above the half of this year’s monthly average of 488,000, while June forecast points to the smallest gain since April…
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Bears need penetration of daily cloud to resume
The cross extends a steep fall into third consecutive day and cracks significant support at 0.8501 (top of thick ascending daily Ichimoku cloud).
Bears accelerated on Wednesday after a bullish signal was generated on break of trendline…
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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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