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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China’s industrial and retail activities slowed more than expected in April on Covid lockdowns
The latest Covid lockdowns in China, imposed in major cities in past two months, impacted China’s economic performance more than expected, strongly slowing the activity in factory and retail activity in April.
Annualized industrial…
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Bears may accelerate on break of 2017 low
The Euro is consolidating within a tight range on Friday after a 1.3% drop previous day, as oversold daily studies warn of price adjustment, which is likely to be limited as overall bearish bias is intact.
The pair is on track for a weekly…
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Profit-taking pauses bears but Dow is still on track for big weekly loss
Bears are taking a breather on Friday, as traders collects profits after a sharp fall this week (the index was down over 3% during Mon/Thu period.
Stock markets were slashed by worries of high inflation and aggressive monetary policy…
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Aussie posts new multi-month low on dominating risk-off mode
Risk aversion on growing concerns about inflation and slowdown of global growth continues to drive the Aussie dollar lower, after recovery attempts on Wednesday were strongly rejected above 0.70 level, now reverted to strong resistance.…
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Current Volatile Market Movers
On the days when traders and financial market participants are waiting for any news related to Inflation in the US, which shows the practical effects of the Federal Reserve's policies to control the high Inflation, on Wednesday, May 11, the…
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