Cable stands at the front foot on Monday ahead of key event today – confidence vote on PM…
Cable bounces from the dangerous 1.2470 zone (Fibo 38.2% of 1.2155/1.2866 upleg / converged 20/30DMA’s) but remains within a narrowing congestion which extends into fourth straight day, awaiting the key event today – a confidence vote on UK…
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Gold remains biased higher but await US CPI data for more signals
Spot gold regained traction on Monday, but gains were limited, retracing the small part of Friday’s 1% drop.
Near-term action lack direction but is expected to keep overall positive bias while holding above key supports at $1840 zone…
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Brent oil holds above $120 on fears of tight supply in increased Saudi Arabia’s prices
Brent oil is establishing above $120 barrier which was broken on Friday and hit new ten-week high on Monday, as concerns about persisting tight supply on growing doubts that OPEC+ is likely to achieve increased output target and cover…
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Turkish lira weakens further and eyes record low for retest, in very negative environment
The USDTRY rose to new highest since mid-Dec 2021 on Monday and broke through pivotal Fibo barrier at 16.41 (76.4% of 18.33/10.20) pullback that adds to positive signals.
Lira came under fresh pressure after Turkey CPI data last week…
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Bulls look for retest of 2022 high after consolidation
The USDJPY is consolidating under 2022 high in early Monday, following last Friday’s 0.77% advance that keeps bulls intact for further gains.
Last week’s solid US manufacturing and labor data keep the dollar inflated, while traders focus…
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US labor sector is expected to see a solid job growth and lower unemployment in May but focus will…
All eyes are today’s release of US jobs report for May which is going to give more details about the situation in the labor sector, but also to provide more clues of the sector’s performance in conditions of soaring inflation, labor…
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Cable remains constructive but the downside still vulnerable; US jobs data in focus
Cable is moving within a narrow range in early Friday and remains constructive after Thursday’s 0.75% advance.
Technical picture is mixed, as moving averages of 10/20/30 days are conflicting, bullish momentum is weaker and RSI neutral.…
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Dollar loses traction after private sector jobs data miss; all eyes on NFP and US services PMI
The dollar lost traction on Thursday, after strong recovery in past two days, deflated by disappointing US private sector payrolls data, while a drop below expectations in weekly jobless claims was unable to improve the situation.
Fresh…
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US private sector payrolls fell below expectations in May
The US private sector added significantly less jobs than expected in May, signaling that demand for labor slowed, in the situation of tightening financial conditions and rising interest rates, but job openings remains very strong and…
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Aussie keeps firm tone but near-term action is directionless and looks for fresh signals
The AUDUSD regains traction on Thursday and regains 0.72 handle, following strong rejection at 100DMA (0.7227) on Wednesday, which resulted in a shallow pullback, contained by broken Fibo 38.2% of 0.7661/0.6828 and keeping larger bulls…
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