Cable rises on BoE optimism but risk aversion and negative techs weigh
Cable regained strength after being deflated on Wednesday (down 1.2% for the day) by high inflation figure.
Investors turned focus towards the BoE, which is expected to raise rates by 25 basis points in the policy meeting next month that…
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Bulls return to play on solid jobs data, easing of China’s restrictions
The Australian dollar regained traction on Thursday and recovered a good part of Wednesday’s 1% drop, underpinned by fresh optimism over relaxing Covid restrictions in China and solid Australia’s jobs data.
Unemployment in Australia fell…
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Negative signals are developing on daily chart and point to a deeper drop
The USDJPY extends lower in early Thursday’s trading, following nearly 1% drop on Wednesday, as yen was supported by increased flow into safety on risk aversion.
Negative signal is developing on daily chart as near-term recovery attempts…
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The European Central Bank policymakers signal quick policy normalization
Recent hawkish comments from the policymakers signal that the European Central Bank is likely to start raising its interest rates, once it ends its bond-purchasing program, which is expected in early third quarter this year.
Raging…
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Recovery faces headwinds but bulls remain in play above 10DMA
The Euro eases on Wednesday after three-day recovery leg from five-year low at 1.0349 showed signs of stall and was capped by falling 20DMA.
Rebound was fueled by profit-taking on improved sentiment and expectations for more ECB rate…
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Relaxing China’s Covid restrictions and supply concerns keep the oil price supported
WTI oil price rose on Wednesday and pressure Tuesday’s peak at $115.52 (the highest since Mar 24), extending bull-leg off $98.17 (May 11 higher low.
Oil price fresh support from easing of Covid restrictions in China, drop in Russian oil…
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Gold remains in red despite inflation concerns but break of key $1800 support zone to confirm…
Spot gold remains at the back foot on Wednesday and extends fresh weakness, after brief recovery from new 4 ½ month low ($1786) was capped by 200DMA ($1836).
Today’s reaction on strong rise of UK inflation in April was mild, despite the…
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British inflation rises to 9% in April, the highest since 1982
UK inflation rose to 9% in April, the highest in forty years, making a strong jump from the previous month’s 7%, but came mainly in line with expectations, as economists forecasted consumer prices rise by 9.1%.
Britain now has the…
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Sterling was lifted by upbeat UK jobs data and expectations for hawkish BoE, as inflation is…
Cable extends rebound from new 2022 low into third straight day and accelerates recovery on Tuesday after upbeat jobs data.
UK unemployment fell to 3.7% in March, the lowest since 1975, improving the sentiment on rising bets for BoE 50…
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Improved risk sentiment may spark deeper dollar’s correction
The dollar index remains at the back foot in early Tuesday, extending pullback from new 20-year high as traders collect profits from the recent strong rally, driven by the US central bank start of tightening its monetary policy and signals…
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