Cable bounces after US CPI data as markets digest results
Cable fell below 1.23 handle after US CPI data came above expectations in April, but dip stayed above new 2022 low (1.2260) posted on Monday and subsequent bounce pushed the price to the mid-point of the near-term range which extends into…
Read More...
Read More...
China’s inflation rose in April but remains below government’s target
China’s consumer prices rose by 0.4% m/m in April from 0.6% increase previous month while annualized figure showed inflation rising 2.1% last month from 1.5% in March and beating forecast for 1.8% rise, mainly lifted by food prices which…
Read More...
Read More...
Gold hit three-month low, bears await US CPI data for fresh signal
Spot gold is trading near new three-month low ($1832) posted in early Wednesday’s trading, with larger bears pausing here as traders await fresh signals from US inflation data, due later today.
The metal was under increased pressure from…
Read More...
Read More...
Bears to stay intact while upticks are limited under strong barriers at 0.7000/29
The AUDUSD edges higher from new 22-month low (0.6910) on Tuesday, as US dollar bulls lose pace and traders partially take profit after pair’s 4.2% loss in past three days.
Overall picture remains bearish, as larger downtrend from 2022…
Read More...
Read More...
Better than expected German investor morale data are not enough to significantly improve economic…
German ZEW Institute data on Tuesday showed economic sentiment rose to -34.3 points in May from -41 in April and surprised expectations for -42 fall.
Slight rise, or smaller than expected drop in German investor morale in May was a…
Read More...
Read More...
Oil is consolidating after a sharp fall on growing economic worries and robust dollar
WTI oil is consolidating above strong $100 support (psychological / Fibo 61.8% of $92.92/$111.33 upleg), following a 7% drop on Monday (the biggest one-day loss since Mar 28), as strong dollar and economic worries soured sentiment,…
Read More...
Read More...
Dollar rises to 20-year high on safe-haven buying, higher interest rates
The dollar index hit a twenty-year high in early European trading on Monday, as bulls regained pace after last week’s shallow correction.
Strong demand for the greenback on rising interest rates and expectations for more aggressive policy…
Read More...
Read More...
US labor sector grows above expectations in April
The US Labor Department’s employment report showed non-farm payrolls rose by 428,000 jobs in April, equivalent to previous month’s downwardly revised figure from 431,000, beating forecast for 391,000 rise in new jobs.
The report also…
Read More...
Read More...
Firm break of 130 zone to add to bullish outlook for retest of 20-year high
The USDJPY returned to bullish mode, after shallow pullback from new 20-year high found firm ground at 129 zone, contained by rising 10DMA and Fibo 23.6% of 121.27/131.24 upleg.
Bulls are establishing above 130 level, but need weekly close…
Read More...
Read More...
German industrial production falls below expectations in March
German industrial production dropped well below expectations in March, as the impact from the war in Ukraine starts to bite stronger and Covid restrictions in China further disrupted supply chains and added to persisting difficulties for…
Read More...
Read More...