ECB to signal a series of rate hikes following an end of long-lasted stimulus
The European Central Bank policymakers meet today and expected to confirm an end of era of Asset Purchase Program and lay a groundwork for start of tightening its monetary policy.
Record- high bloc’s inflation at 8.1%, with signals of…
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WTI keeps firm tone for final clear break of $120 barrier
WTI oil keeps firm tone and probes above cracked $120 level on Wednesday, despite unexpected rise in US crude inventories by 2.02 million barrels against forecasted drop of 1.9 mln bls, with positive sentiment being boosted by easing demand…
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Lira’s fall accelerates for likely retest of all-time low
The USDTRY is in strong bullish acceleration for the third straight day (advancing 2.2% only today, as lira came under fresh and increased pressure on worries about skyrocketing inflation (73.5% in May), exhausted country’s reserves and…
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EURJPY accelerates to the highest in seven years
The EURJPY cross accelerated steep rally on Wednesday, hitting the highest levels since January 2015 and on track for the biggest daily gains since Feb 3.
Yen remains strongly pressured by BoJ’s ultra-easy monetary policy, compared to…
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Weakened near-term structure favors further downside
The Euro is holding in red in early Wednesday and probing again through Fibo support at 1.0683 (23.6% of 1.0349/1.0786 upleg).
Fresh bears emerged after recovery was rejected at pivotal Fibo resistance at 1.0787 (38.2% of 1.1494/1.0349)…
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GBPJPY continues to trend higher and looks for retest of 2022 high
The GBPJPY extends steep ascend into tenth straight day, hitting the highest since Apr 22 on Tuesday, in extension of Monday’s strong acceleration (the pair was up 1% for the day in the biggest daily advance since May 17).
Weak yen on…
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UK businesses slow further in May as surging inflation bites – PMI
The UK Services PMI, which represents the activity in Britain’s dominant services sector, fell to 53.4 in May from 58.9 in April, marking the record monthly fall, with minor impact from May’s figure beating forecast at 51.8.
The…
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Sterling keeps traction but downside remains at risk as negative tone prevails in fundamentals
Cable bounces from a daily low at 1.2430 (the lowest since May 19, after being hit by the story about confidence vote on PM Boris Johnson.
Although Johnson survived the vote, he suffered significant political damage as 41% of Conservative…
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Bulls remain unobstructed and eye 2002 peak
The USDJPY continues to trend higher and posted new 2022 high at 133.00 in early Tuesday, following break and close above previous yearly peak on Monday.
Weak Japan’s household spending data signaled that rising costs hit consumers more…
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The Reserve Bank of Australia surprises on 50 basis points rate hike
Australia’s central bank surprised markets on their June policy meeting by raising its cash rate by 50 basis points to 0.85% vs widely expected 0.25% hike.
The RBA already lifted rates by 0.25% in May, in the first rate raise since 2010.…
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