Risk aversion pushes cable below 1.32 handle to pressure key supports
Cable fell below 1.32 mark in Europe on Monday, deflated by fresh risk aversion on surge of Omicron cases and fears that tougher measures can be imposed during the Christmas / New Year holiday, to curb the virus spread and prevent worse…
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Oil prices extend weakness as surge of Omicron cases warns of new restrictions
WTI oil opened with a gap and below $70 level on Monday and fell over 4% in Asia and early Europe, extending last Friday’s drop, pressured by rising concerns over global fuel demand, as surging cases of Omicron variant in the Europe and…
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Turkish lira accelerates fall after President Erdogan confirmed his commitment to further lowering…
USDTRY rose further on Monday, hitting new all-time high above 17.50, with fresh lira’s weakness being sparked by comments of Turkish President Erdogan over the weekend, as his boosted his unorthodox interest rate policy by referring to…
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Near-term focus shifts higher as dollar moves to the upper side of multi-week range
The dollar index is trading within a narrow range in early Monday but remains bid on prevailing risk-off mode and underpinned following last Friday’s 0.70% advance, which fully reversed post-Fed fall.
The price action moves into the upper…
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Gold rises above $1800 on weaker dollar, inflation risk
Spot gold extends advance for the third consecutive day and is on track for the first positive weekly close after being in red for past four weeks.
The yellow metal gained support weaker dollar and also benefited from rising inflationary…
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Euro is firmer but still moving within extended range
The Euro is consolidating under two-week high after being dragged by stronger pound after BoE surprise rate hike and inflated by weaker dollar post-Fed.
Near-term action remains within a consolidation range above new 2021 low (1.1186) and…
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Upbeat UK retail sales data add to positive post-BoE tone
Cable is holding positive tone in early Friday following Thursday’s rally to 1.3374 (three-week high) after surprise BoE rate hike.
Upbeat UK retail sales data (Nov 1.4% m/m from 1.1% in Oct and vs 0.8% f/c) provide additional support to…
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Bank of England was the first among major central banks to raise rates after pandemic, as inflation…
The Bank of England raised interest rates by 15 basis points to 0.25% in its last policy meeting this year, being the first of the world’s central banks to increase interest rates after the coronavirus pandemic.
The nine-member MPC voted…
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Dollar eases in post-Fed ‘buy the rumor – sell the fact’ action, but larger bulls…
The dollar extends weakness in early Thursday’s trading, following a post-Fed’s drop in a typical ‘buy the rumor, sell the fact’ action.
The US central bank was more hawkish that expected with decision to accelerate tapering its bond…
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Strong UK jobs data underpin pound but upticks were limited
Cable edged higher in European trading on Tuesday, underpinned by strong UK jobs data for October, but upticks were so far limited as near-term action remains weighed by thick weekly cloud.
Also, fragile political situation in the UK, on…
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