Bulls are losing traction on approach to key resistance
The Australian dollar remains well supported, with strong gains against Japanese yen, underpinning the AUDUSD pair.
Aussie advanced around 5% vs the US dollar and 10% vs yen in past almost two weeks, as Japanese currency remains under…
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Cable remains directionless between pivotal Fibo levels
Cable holds in a choppy and directionless mode for the second straight day and remained resilient despite downbeat UK retail sales data for February.
Weaker dollar in European trading on Friday helped sterling ahead of pivotal support at…
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Soaring inflation hurts UK retail sales more than expected in February
UK retail sales fell below expectations in February, as soaring inflation lifted food and energy prices, hurting household budgets that resulted in reduced consumer confidence.
Retail sales fell by 0.3% in February following a 1.9% rise…
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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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