The Reserve Bank of Australia raises interest rates more than expected, signals further hikes
The Reserve Bank of Australia surprised markets by raising its main interest rate by 25 basis points to 0.35%, against wide expectations for 15 basis points hike, although many economists expected the RBA to stay on hold in May, due to…
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The activity in US manufacturing sector falls further in April
The activity in in US manufacturing sector slowed in April, pressured by increasing prices for inputs and unfinished products on persisting supply issues.
The manufacturing Purchasing Managers’ Index fell to 55.4 in April from 57.1…
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Oil price drops as concerns about China’s demand offset supply fears
WTI oil price fell near $100 support on Monday, extending weakness after Friday’s rally stalled, ending trading in bearish candle with long upper shadow and closing below the upper boundary line of the triangle, formed on daily chart.…
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Gold falls further on robust dollar and expectations for aggressive Fed on May 3/4 policy meeting
Spot gold accelerated lower, losing 1.9% in Asian and European trading on Monday, after directionless movements last Friday and Thursday.
Fresh weakness hit 2 ½ month low on break of supports at $1876/73 (100DMA / 50% retracement of…
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Bears pause above key Fibo support, awaiting BoE policy decision for fresh signals
Larger bears are pausing above new multi-month low, after sterling fell 4.3% in April, suffering the biggest monthly loss since June 2016.
Sterling bounced after failing to register weekly and monthly close below cracked pivotal Fibo…
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EU manufacturing activity slowed further in April
Eurozone manufacturing Purchasing Managers’ Index came at 55.5 in April, hitting the lowest in fifteen months, on a drop from 56.9 in March, although slightly above consensus at 55.3.
The figure still holds above 50 threshold that…
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Aussie remains in red after April’s 5.6% fall; Tuesday’s RBA meeting in focus
The AUDUSD started trading in May in negative mode and extended to new lowest since Jan 2020 in early Monday, despite holiday-thinned Asian markets.
Nears remain fully in play after 5.6% drop in April, the biggest monthly loss since May…
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Bulls are taking a breather under new multi-year high, following strong rally in April
The dollar is consolidating just under new 20-year high, posted after a brief probe above former tops of 2017/2020 (103.80) and maintain firm bullish tone.
The greenback remains well supported by a number of technical and fundamental…
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Oil rises further on supply disruption fears
WTI oil price rose for the fourth straight day on Friday, supported by growing fears over Russian supply disruption that offset concerns about the impact from China’s lockdowns.
Fresh extension higher generated bullish signals on break of…
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Bears take a breather but downside pressure remains strong
The Euro turned positive for the first time after six straight days in red, as traders collected profits, but recovery attempts were so far limited and facing strong headwinds.
Oversold daily studies suggest the pair may enter correction,…
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