Gold rises above $1800 on weaker dollar but fresh bulls need more evidence to signal reversal
Spot gold regained traction after last week’s sharp post-Fed fall and bounced above key $1800 level.
Recovery from new 1 ½ month low ($1780) extends into second day, driven by weaker dollar, as traders collected profits after euphoria on…
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Bulls take a breather ahead of OPEC+ meeting, crude inventories
WTI oil is consolidating under new seven-year high ($88.81), posted after six consecutive weeks of gains, as overbought daily studies and expectations of a rise in US crude inventories prompted some profit-taking.
Overall picture…
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Sterling regains traction but awaits more signals from the outcome of BoE policy meeting
Cable stands at the front foot for the second day, correcting a 2% drop of past two weeks. The bounce was signaled by oversold conditions and sparked by fresh risk demand, with 23.6% of 1.3748/1.3357 bear-leg being reversed so far.…
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Aussie jumps on fresh risk demand as key 0.70 support zone continue to provide strong headwinds to…
Aussie rebounds on Monday, lifted by global equity gains, recovering after last week’s nearly 3% fall (the biggest weekly loss since mid-August).
Bears retested very strong 0.70 support zone and managed to register weekly close…
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Limited correction likely to precede fresh weakness
Bears are consolidating above new seven-month low (1.1145, posted on last week’s 1.74% fall) on Monday, with limited bounce before larger bears regain full control, seen as likely scenario.
Oversold stochastic on daily chart…
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The dollar pulls back from new multi-month high on overbought conditions, larger bulls remain intact
The dollar index edges lower in early Monday’s trading, following last week’s 1.6% advance (the biggest weekly rally since early June 2021) that resulted in hitting the highest in 18 months.
The greenback was lifted by growing…
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Retail Sales in Great Britain Falls – Affected by Omicron Spreading
Spending by consumers in Great Britain dropped by almost 4% in December as the arrival of the Omicron variant kept people away from the shops, official figures show.
In a key month for retailers, sales volumes dropped by 3.7% in an…
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US Banks Says Spending Patterns Are In Good Shape
According to Reuters: Top Directors at the biggest U.S. banks have been auspicious about the nation's profitable outlook this earnings season, pointing to healthy consumers who have cash in the bank and are again eager to spend.
Consumer…
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WTI price continues to rise on growing supply concerns
WTI oil extends gains on Wednesday and hit new highest levels since October 2014, driven by supply concerns, boosted by fresh supply disruptions caused by a fire on a pipeline between Iraq and Turkey, which briefly stopped flows, adding to…
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Sterling bounces on rising expectations for another rate hike as inflation hits the highest in 30…
Cable regained traction and bounced on Wednesday, signaling an end of three-day pullback, sparked by a double rejection at 200DMA (1.3733) last week.
Pound was boosted by UK CPI data which showed that inflation in Britain continued to rise…
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