Gold eases further on stronger dollar
Spot gold remains firmly in red for the second straight day and falls to two-week low on Wednesday, in extension to Tuesday’s 1% drop, pressured by stronger dollar on expectations global inflation concerns could prompt central banks for…
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Strong recovery pressures psychological 130 barrier and signals an end of corrective phase
The USDJPY extends strong rise into third straight day, lifted by stronger dollar, divergence in monetary policies as Fed remains hawkish while BoJ maintains ultra-low rates and Japanese importers buying dollar.
Fresh advance cracked…
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German retail sales fell sharply in April
German retail sales dropped by 5.4% in April after rising by 0.9% previous month and well below expectations for 0.2% fall.
Strong rise in prices, especially for food, hurt consumers and was the main driver of the sharp fall in retail…
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Australia’s economy grew more than expected in the first quarter
Australia’s gross domestic product increased 0.8% in the first three months this year, above forecasted 0.7% growth, while annual growth was at solid 3.3%, although below Q4 2021 upwardly revised 4.4% expansion, but beat expectations at…
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Pound eases on weak data, firmer dollar
Cable holds in red on Tuesday, as dollar rose on month-end demand, while weaker than expected UK mortgage approvals data added to negative near-term tone.
Traders also worry that soaring inflation may significantly hurt consumer demand…
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Recovery runs out of steam as downbeat EU inflation data darkens economic growth outlook
The Euro eases on Tuesday, deflated by firmer dollar and disappointing data, as the inflation in the European Union hit new record high in May and oil prices continue to rise, weakening bloc’s growth outlook.
Two-week recovery rally from…
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Eurozone inflation hits new record high in May
Eurozone inflation continued to rise and hit new record high at 8.1% in May, on jump from April’s 7.4% and beating expectations for 7.7% increase.
The core inflation which excludes volatile food and energy prices, as well as alcohol and…
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Brent oil rises to two-month high, on track for the sixth straight month of gains
Brent oil rose to new two-month high on Tuesday and probed through psychological $120 level, as bull-run extends into the ninth straight day and the contract is about to end the sixth consecutive month in green.
Easing of Covid…
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Better than expected China PMI’s signal the economic slowdown loses traction, but the figures remain…
China’s Purchasing Managers’ data for May showed stronger than expected performance in both, manufacturing and services sectors, as easing of Covid restrictions in the major cities boosted activities, however the figures remain in…
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German inflation rose well above expectations in May adding to calls for stronger ECB rate hike
Consumer prices in Germany rose by 0.9% month-on-month in May from 0.8% in April and strongly beat forecast for 0.5% increase, while annualized inflation hit the multi-decade high at 7.9% from 7.4% previous month and above 7.6% consensus.…
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