British pound slumps as weak UK economic data send strong warning
British retail sales fell sharply and well below expectations in March while consumer confidence dropped near all-time lows, reflecting cost of leaving squeeze and sending a warning signals for the UK economy.
The UK retail sales fell by…
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Extended weakness pressures key supports
The Australian dollar extends strong fall into second day (the pair was down 1.02% on Thursday and fell nearly 1% in early Friday), hitting new five-week low and pressuring key supports.
The Aussie came under fresh pressure on risk…
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EU inflation slightly below expectations in March but still at a record high
Eurozone inflation rose to a record high, although March figure was slightly below expectations, mainly driven by surge in cost of energy that lifted prices in other sectors, contributing to increased price pressures.
Monthly inflation…
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Recovery looks for more positive signals on break of pivotal barrier
Recovery from new two-year low extends into third straight day and pressuring pivotal Fibo barrier at 1.0920 (38.2% of 1.1184/1.0757 bear-leg, reinforced by 20DMA).
Wednesday’s close above 10DMA (1.0845) generated initial bullish signal…
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Bulls are pausing on overbought conditions
The dollar index eases from new two-year high in early Wednesday, with the action seen as technical correction on overbought studies, as the greenback remains well supported by safe-haven buying on rising uncertainty over Ukraine crisis and…
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Bears continue to struggle at 1.30 support but remain in play
Cable remains biased lower, but bears continue to struggle at psychological 1.30 support and unable to clearly break lower for over one month.
Technical studies on daily and weekly charts show strong negative momentum, with bearish signals…
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Bears may extend towards 2020 low as environment remains very negative for Euro
Bears are taking a brief breather on Tuesday, facing a headwinds from new two-year low (1.0757, posted on Apr 14) but remain fully in play and threatening of further losses.
Narrow consolidation is likely to precede push through 1.0757 and…
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Bulls accelerate after holiday pause and eye psychological 130 barrier
The USDJPY accelerated in Tuesday’s morning, as activities gain pace after traders returned from an Easter break.
Fresh strength is exploring levels above 128 mark and trading at the highest in 20 years, with targets at 129.07 (May 2002…
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Gold rises on high inflation and uncertainty over Ukraine; psychological $2000 level under increased…
Spot gold rose nearly 1% on Monday, climbing to the highest in over one month and pressuring key barriers at $2000/$2001 (psychological / Fibo 61.8% of $2070/$1890 correction).
Growing concerns about surging inflation and economic impact…
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Dovish ECB and strong uncertainty over Ukraine conflict keep the Euro under increased pressure
The Euro maintains negative tone and probes again through key support at 1.0806, following Thursday’s 1.10% fall after dovish ECB’s stance that pushed the pair to the lowest levels since May 2020.
Subsequent bounce and failure to register…
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