Bears crack pivotal supports at $1900 zone as dollar rises further
Spot gold fell to 10-week low on Thursday registering a firm break of psychological $1900 level and a marginal close below important technical support at $1890 (Fibo 61.8% of $1780/$2070 / lows of Mar 29 and Apr 25) on Wednesday that added…
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USDJPY surges through 130 barrier after dovish BOJ; US GDP data eyed for fresh signals
The USDJPY accelerated sharply higher on Thursday and broke above psychological 130 barrier, to hit 20-year high and test pivotal Fibo barrier at 130.65 (76.4% retracement of 1998/2011 147.68/75.55 downtrend.
The Japanese yen is in strong…
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Euro falls to the lowest in five years following break of 2020 low
The Euro surged through key support at 1.0635 (2020 low) on Wednesday, extending steep fall into fifth straight day and hitting levels last traded in March 2017, after triggering stops parked below.
The single currency is pressured by risk…
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Bears slow after soaring Australian inflation signal that RBA will start tightening its policy
Bears are taking a breather on Wednesday after a steep fall in past four days, when risk-sensitive Aussie dollar was down 4.3%, pressured by s robust greenback and strong risk aversion.
Today’s release of Australian inflation data showed…
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Australian inflation rises to the highest in two decades, prompting RBA to start raising rates
Inflation in Australia surged well above expectations in the first quarter, hitting 5.1% from the Q4 2021 3.5% and overshooting consensus for 4.6% increase.
A closely watched core inflation which excludes the most volatile components and…
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German consumer morale falls to a record low and warn of further economic slowdown
The data from German Gfk institute showed that consumer morale is projected to fall to a record low in May, as negative impact from the war in Ukraine caused surge in cost of living and threatening of fresh economic slowdown, as the economy…
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Cable continues to trend lower as geopolitical tensions rise
Steep fall extends into fifth straight day, with the pair falling nearly 4% in past as sterling remains under increased pressure from risk aversion and growing geopolitical tensions, while negative economic data warn that the UK economy is…
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Britain’s economic growth is likely to slow significantly on soaring cost of living
Sharp rise in the cost of living in the UK due to soaring inflation, is likely to have a severe impact on the economic growth in 2022 and early 2023, according to the polls, in which majority of economists pointed to the worst scenario.…
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Dollar remains well supported and could extend higher than expected
The dollar continues to trend higher and hit new two-year high on Monday, with recent rapid rise being underpinned by safe-haven buying and expectations of more aggressive Fed.
Growing uncertainty over the consequences of the conflict in…
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Gold falls below $1900 on expectations of more aggressive Fed; strong dollar
Spot gold accelerated lower on Monday, losing more than 1.5% and probed below $1900 mark for the first time in more than three weeks.
Robust US dollar, which holds near the two-year high against the basket of major currencies, driven by…
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