Limited pullback keeps bulls intact for fresh push higher
The USDJPY is trading within a narrow range in early Monday, after a pullback from new multi-year high (136.70) was repeatedly limited by Fibo 23.6% of 126.36/136.70 upleg (134.26) with another positive signal seen on repeated failure to…
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Oil bounces on fresh supply fears but growing signs of global recession weigh
WTI oil regained traction and bounced around $3 on Friday, on revived supply fears on almost total shutdown of production in OPEC member Libya, due to unrest in the country.
Fresh strength correct strong fall on Wednesday, when the US…
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German industry may shut on reduced or halted Russian gas supplies
The crisis caused by shortage of energy supplies from Russia, due to European Union’s sanctions, continues to deepen, threatening of catastrophic consequences if the conditions worsen further.
German economy minister warned that a…
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Quiet and directionless phase likely to precede fresh weakness
Cable trades in a quiet and narrow-range mode in European session on Friday, with directionless action (long-legged Doji candles in past two days) extending into fourth consecutive day.
Friday’s action remained unchanged on negative news…
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Thick daily cloud continues to limit recovery attempts
The Euro kept slightly positive stance in a quiet early Friday’s trading, as stocks edged higher, but lacking direction as near-term action holds within a range, defined by 10 and 20DMA’s, for the third straight day and capped by thick…
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Weaker than expected US PMI data add to risk of recession
US manufacturing Purchasing Managers’ Index dropped to 52.4 in June, the lowest in almost two years, from 57.0 in May and strongly missing forecast at 56.0, the services PMI fell to 51.6 In June from 53.4 previous month and disappointed…
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Aussie remains in red as weak data boost growth slowdown fears
The Aussie dollar holds in red for the second consecutive day, following a double-rejection under psychological 0.70 barrier and came under increased pressure on downbeat economic data.
Australia’s composite PMI which tracks the activity…
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Gold rises on growing uncertainty but bulls look for more evidence to be validated
Spot gold edged higher on Wednesday after three days in red, boosted by risk aversion on lower stocks, political uncertainty and fears of recession, as raging inflation hurts economies while major central banks raise interest rates to curb…
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Bulls are pausing under new multi-year high before fresh push higher
The USDJPY is taking a breather under new 24-year high on Wednesday, as overbought conditions prompt some profit-taking after the pair advanced 3.3% in past three days and traded at levels last seen in 1998.
Overall picture shows bulls…
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UK inflation rises to new highest in four decades in May
Inflation in UK continued to rise and hit new 40-year record in May, contributing to severe problem of fast-rising cost of living, which is the hottest issue for the government, but also further hurting all sectors of the economy.
The…
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