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.…
Read More...
Read More...
Fresh strength suggests that corrective pullback might be over
Bulls started to gain traction after pullback from 20-year high (131.34) found firm ground at 126.60/40 zone and fresh strength emerged on Monday.
Yen came under renewed pressure on rising prices of crude oil and a gap between the monetary…
Read More...
Read More...
Recovery loses steam after two-week rally but bulls remain in play
Cable keeps positive tone at the start of the week following strong rally in past two weeks (3.1%) but bulls face headwinds from falling weekly Tenkan-sen (1.2661) which capped recovery last Friday and continues to limit the action today.…
Read More...
Read More...
Germany further downgrades outlook for 2022 as situation worsens on war, China’s lockdowns
Darkening outlook for German industry in 2022, due to war in Ukraine and recent lockdowns in China that deepened persisting supply chain crisis, prompted officials from two leading associations to further downgrade forecasts for the rest of…
Read More...
Read More...
Oil hits 9-week high as traders focus on EU meeting on Russian sanctions
WTI oil price rose to a nine-week high in early Monday, maintain bullish stance following last week’s 4.2% rally.
Traders focus on today’s EU summit, in which bloc’s leaders will try to reach an agreement on the sixth package of sanctions…
Read More...
Read More...
Bulls remain in play but face strong headwinds
The Euro remains constructive in early Monday’s trading following strong advance in past two weeks, but bulls are facing headwinds from pivotal barrier at 1.0767 (50% retracement of 1.1184/1.0349 / falling 55DMA).
Weaker dollar continues…
Read More...
Read More...
Rise in US consumer spending boosts optimism that inflation may have peaked
The US personal consumption expenditures price index (PCE), the gauge of the average increase in prices for all domestic personal consumption, rose by 0.2% m/m in April after increasing by 0.9% in March, while annualized figure advanced…
Read More...
Read More...
Gold remains supported but bulls need break of pivotal barrier to resume
Spot gold regained traction and rose on Friday, following a shallow dip in past two days. Near-term action has established above 200DMA that adds to bullish near-term bias, however it is still ranging between 200DMA ($1839) and $1867 (Fibo…
Read More...
Read More...
Dollar is on track for the second big weekly loss on cooling expectations for aggressive Fed
The dollar index dipped to new one-month low in early Friday, with fresh weakness signaling continuation of the downtrend from 105.04 peak (20-year high, posted on May 13), after bears were paused for consolidation in past three days.
The…
Read More...
Read More...
Oil prices remain supported by global supply concerns
WTI oil is consolidating near new two-week high after Thursday’s 3.3% advance and maintaining firm tone, amid concerns about global supply.
Talks about EU ban on Russian oil, although so far without consensus as Hungary opposes the…
Read More...
Read More...