Bears regain control after short-lived bounce
The Euro weakened further in early European trading on Tuesday, as Monday’s recovery following initial reversal signal on Friday’s long-tailed Doji, was short-lived.
Bears regained traction after recovery peaked at 1.0933, as subsequent…
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Oil prices drop below $100 on release of strategic reserves and China lockdowns
Crude dropped nearly 4% on Monday, extending weakness to the lowest in over three-weeks, with both contracts holding firmly below psychological $100 level.
The decision of the member nations of the International Energy Agency to release…
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UK economic growth slowed below expectations in February
UK economy grew by 0.1% in February, compared to 0.8% expansion in January and disappointed expectations for 0.3% growth, with component shortages that continues to hurt auto industry, tightening cost of living and storm disruptions, mainly…
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Bears probe again through key 1.30 support as downbeat UK GDP adds to negative sentiment
Cable remains in a negative mode in early Monday and probed again through key 1.30 support (psychological / Mar 15 low), following last Friday’s short-lived dip to 1.2982 (the lowest since Nov 2020).
Rising US dollar keeps the pound in…
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Bulls tighten grip and look for retest of 2022 high
The USDJPY continues to trend higher and extend uninterrupted recovery from a higher base at 121.27 (Mar 30/31) into sixth straight day, on track for the fifth consecutive strong weekly gains.
Today’s acceleration cracked pivotal Fibo…
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German industrial sector starts to slow on Ukraine war; the worst still to come
German industrial production rose by 0.2% in February after increase of 1.4% in January, keeping an optimistic mode despite the February’s figure was significantly lower, as the industrial output continued to rise for the fifth straight…
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Deflated Aussie attacks key support
The Australian dollar extends steep pullback from 10-month high (0.7661, Apr 5) and pressuring key support at 0.7471 (Fibo 38.2% of 0.7165/0.7661 upleg), where a number of attacks in past two weeks failed.
The Aussie is weighed by lower…
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Bears may pause before final push towards 1.0806 and remain in play below 1.10
The Euro remains firmly in red and extends the bear-leg from 1.1184 (Mar 31 high), hitting one-month low at 1.0864 in European trading on Thursday.
Wednesday’s close below pivotal Fibo support at 1.0895 (Fibo 76.4% 1.0806/1.1184) added to…
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Stock markets and FOMC meeting minutes
The increasing probability of intensifying US and EU sanctions against Russia has increased risk aversion in the financial and stock markets. As a result, US stock indices are moving in a bearish trend. Fundamentally, the probability of a…
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The oil market awaits the EU decision and the announcement of the weekly US crude oil inventories
In the crude oil market and the Brent oil index, there are speculations in the European Union to increase fuel sanctions against Russia, which have affected crude oil prices. If the sanctions have been confirmed, they could boost crude oil…
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