Oil prices remain at the back food on fading supply concerns but biased higher above $90
WTI oil consolidates on Wednesday following a 2.4% drop on Tuesday, after concerns about the disruption of oil supplies on the first wave of US and European sanctions on Russia eased.
Also, the signals of potential return of Iranian oil to…
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Aussie rises to one-month high on fresh risk mode, solid Australian data
The Australian dollar surges to one-month high on Wednesday, lifted by fresh risk demand and growth of Australian wages in Q4.
The pair extends advance into third consecutive day, with today’s break of pivotal barriers at 0.7232 (Fibo…
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Gold eases on profit-taking but bulls remain firmly in play on strong geopolitical tensions
Spot gold eases below $1900 mark on Tuesday after hitting new highest since June 2021 at $1914 earlier today.
Metal’s price was deflated by higher equities despite persisting high tensions over Ukraine, as well as profit-taking,…
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Cable turns south on dovish comments from BoE policymaker
Cable lost traction on Tuesday and fell to four-day low, following repeated failure to sustain break above key 1.36 barrier (Fibo 61.8% of 1.3748/1.3357 descend).
Near-term sentiment softened on renewed tensions over Ukraine and relatively…
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German business morale rises strongly on easing coronavirus crisis
The German Ifo Institute’s business climate index climbed to 98.9 in February, the highest since August last year, rising from January’s upwardly revised 96.0 and strongly beating forecast at 96.5.
Significant improvement in business…
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EU economic activity accelerated above expectations in February
The Eurozone’s Composite Purchasing Managers Index which tracks the performance of both, manufacturing and services sectors and is seen as guide to overall economic health, rose to the highest in five months at 55.8 in February from 52.3 in…
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Cable regains traction on optimistic news
Bulls tighten grip on Monday, driven by news of possible Biden-Putin meeting over Ukraine that revived risk appetite at the beginning of the week.
Fresh strength pressures tops of past two days (1.3638/42) which lay just ahead of pivotal…
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Reversal pattern is forming on weekly chart and oil prices can fall more on easing geopolitical…
WTI oil extends pullback from new 7-year high and holding comfortably below psychological $90 level, on track for the first bearish weekly close (down over 6% for the week) after rallying for eight consecutive weeks.
From the fundamental…
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Aussie rises to one-week high on positive fundamentals
The Australian dollar remains bid and on track for the third straight weekly gains, underpinned by Australia’s reopening after long period of restrictive measures as the number of Covid cases dropped significantly.
News that US and…
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Near-term action remains negatively aligned below falling 10DMA
The Euro is trading in a choppy sideways mode in European session on Friday, with near-term action being weighed down by south-heading 10DMA which capped upticks in past two days and fading bullish momentum on daily chart.
Fresh…
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