Oil price regains traction on tight supply and continuing demand recovery
WTI oil rises on Tuesday, signaling that pullback after repeated failure at psychological $80 barrier was shallow and short-lived (contained by rising 5DMA).
The overall sentiment remains positive on tight global supply and expectations…
Read More...
Read More...
Fresh bulls establish above key $1800 level, traders await US inflation data for fresh signals
Spot gold rises for the third straight day, driven by overall weaker dollar.
Recovery from $1782 (2022 low posted on Jan 7) rose above pivotal $1800 barrier (psychological / 200DMA), retracing over 50% of $1831/$1782 bear-leg, with…
Read More...
Read More...
Solid supports at 115 zone hold for now; Fed Powell’s testimony in focus
The dollar regained traction in early Tuesday after being in red four days, as pullback from 2022 high (116.35) faces strong headwinds at 115.00 support zone (psychological / Fibo 38.2% of 112.53/116.35 / rising 20DMA).
The corrective…
Read More...
Read More...
The base of thick daily cloud continues to cap and keep larger bears intact
The Euro dips in European trading on Monday after last Friday’s post-NFP advance faced strong headwinds at the base of thick falling daily cloud (1.1361).
Extended consolidation of a larger downtrend from 2021 high (1.2349) was…
Read More...
Read More...
Cable cracks 1.36 barrier in extension of advance after disappointing US NFP data
Cable cracks 1.36 barrier in early Monday’s trading, maintaining positive stance following last Friday’s jump on well below expectations US non-farm payrolls data.
Bullish setup of daily MA’s underpins the action, along with positive…
Read More...
Read More...
Cable rises for the second day despite downbeat UK GDP data
Cable keeps bullish tone for the second straight day and hit weekly high above 1.33 mark, following minor negative impact from weaker than expected UK GDP and improved sentiment on expectations that Omicron may cause a limited damage to the…
Read More...
Read More...
UK economic growth slowed in Q3; Omicron expected to hurt the economy further
Great Britain’s gross domestic product increased by 1.1% in the third quarter, weaker than expected growth of 1.3% and well below the economy's 5.4% expansion in the second quarter when many coronavirus restrictions were lifted.
The…
Read More...
Read More...
Lira has registered the record one-day rally on President Erdogan’s new anti-dollarization…
USDTRY was the top performer on Monday and early Tuesday, in a generally slowing pre-holiday market, shook strongly twice by the comments from Turkish President Erdogan.
The currency accelerated to new historical low against the US…
Read More...
Read More...
Yen gains traction on risk aversion, doubts about Fed rate hikes
The pair stands at the back foot on Monday, as traders move to safety on growing Omicron concerns and market views that Fed’s planned rate hikes may not be achievable that weakens near-term sentiment.
The action is also weighed by a double…
Read More...
Read More...
Near-term action extends sideways mode but larger picture remains bearish
The Euro bounces on Monday, reversing over 50% of Friday’s 0.85% drop and bringing the price to the middle of the range that extends into fifth straight week.
Fresh strength partially offsets negative signal from last week’s bearish close…
Read More...
Read More...