German economic activity slowed less than expected in March, but the outlook continues to darken
German business activity slowed in March, but data showed lower than expected impact from a record inflation and the war in Ukraine to the largest European Union’s economy.
Germany’s Composite Purchasing Managers’ Index, which tracks…
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EURUSD weakens but signal of potential bear-trap keeps near-term outlook mixed
The Euro weakens on Wednesday, signaling that bears from 1.1137 (Mar 17 recovery top) regained traction after a brief pause on Tuesday.
Fresh weakness probes again through cracked pivotal Fibo support at 1.0971 (50% retracement of…
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UK inflation soars to the highest since 1992 in February
Raging UK inflation rose to the highest in 30 years in February, extending uninterrupted rise into fifth straight month, lifted by soaring prices of petrol energy and food.
Annualized figure of consumer prices rose by 6.2% last month,…
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The dollar hits new multi-year high vs sinking yen
The USDJPY rose to the highest in six years on Wednesday, in extension of Tuesday’s 1.1% rally (the biggest one-day advance since Nov 10), as dollar continues to benefit from rising optimism on expectations of more aggressive Fed, while yen…
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Gold was weighed down by hawkish Powell, key supports at $1900 zone eyed
Spot gold stands at the back foot following comments from Fed Chair Powell, which signal hawkish approach in tackling soaring inflation and lifted dollar.
The metal’s price moved towards the lower boundary of the range…
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Aussie breaks key Fibo barrier, lifted by rise in Asian stocks
The Australian dollar resumes higher on Tuesday after bulls paused on Monday, on headwinds from pivotal Fibo barrier at 0.7416 (76.4% retracement of 0.7555/0.6967).
Today’s break through this barrier, generated fresh signal of continuation…
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USDJPY rises above 120 on hawkish Powell and uncertainty over Ukraine war
The USDJPY resumed its steep ascend on Tuesday, advancing nearly 1% in Asian/early European trading.
Fresh bullish acceleration broke through pivotal barriers at 119.50 (Fibo 76.4% of 125.84/98.99) and psychological 120 level, generating…
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Oil price is holds above $100, supported by fundamentals, but techs warn the downside is still at…
WTI oil returned above $100, after dipping to $93.51 earlier this week and is likely to close above this level that would generate initial positive signal, in addition formation of reversal pattern on daily chart. Although recovery picked…
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Negative fundamentals weigh heavily and may stall the recovery
The Euro eases on Friday but is on track for the first bullish weekly close in six weeks that adds to positive signals as Doji reversal pattern is forming on weekly chart.
On the other side, fresh bulls face difficulties at pivotal Fibo…
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Bulls tighten grip as pessimism over Ukraine war dominates, risk of 120+ acceleration
The USDJPY regained traction and probes again above 119.00 barrier, driven by fresh safe-haven buying on renewed pessimism over the crisis in Ukraine, while yen was deflated by dovish BOJ.
The Japanese central bank kept rates unchanged and…
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