Dollar firms vs yen despite Omicron fears; all eyes on Fed
The dollar remains bid vs yen despite risk aversion on growing Omicron fears and moving in the upper side of near-term range in early trading on Tuesday.
Daily chart shows the action supported by rising and thickening daily cloud (top of…
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Lira bounces from new record low on intervention; all eyes on CBRT policy meeting this week
The USDTRY fell around 6% on Monday, following an initial rally to the new all-time high near 15.00 marks and subsequent quick pullback, sparked by CBRT’s intervention.
The Turkish central bank intervened for the fourth time in two weeks…
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Firmer dollar and Fed/ECB divergence keep the Euro under pressure
The EURUSD pair starts the week in red, as the dollar keeps traction ahead of highly anticipated Fed policy meeting this week, while fast spread of new Omicron variant continues to sour the sentiment.
It seems that the single currency may…
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US inflation rose further in November, increasing pressure on Fed ahead of policy meeting next week
The inflation in the US rose further in November, with annualized figure hitting 6.8%, in line with forecast, but well above 6.2% advance previous month, with November’s figure marking the biggest year on year rise since June 1982.
Monthly…
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Weak UK GDP data deflate pound, pressure could increase if US inflation rises above expectations
Cable fell to intra-day low in European trading on Friday, deflated by disappointing UK GDP data.
The data show that British economy barely grew in October (m/m 0.1% vs 0.4% forecast) and sharply down from 0.6% growth in September.
The…
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Yen regains traction but no direction while holding within 113.30/114.00 range; US CPI data in focus
The USDJPY pair extends directionless trading for the third straight day, with the price action holding between the top of thick daily cloud which holds the downside and capped under 114 resistance zone, where Japanese exporters have…
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Bulls are taking a breather after strong three-day advance
The Australian dollar is consolidating under new two-week high, hit after nearly 2.5% advance in past three days, sparked by decision of China’s central bank to cut the amount of cash that banks must hold in reserve, as the Aussie as often…
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Pound extends weakness on signals of new Covid restrictions
Cable lost traction and fell to new December’s low in December, coming under fresh pressure on reports that new Covid rules in the UK are imminent.
Media reports suggest that PM Johnson could introduce new restrictions to curb the spread…
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Oil prices extend recovery on fading Omicron fears, Iran
WTI oil rallies for the second straight day and accelerates well above psychological $70 level, in extension of Monday’s 4% advance.
Receding fears about the Omicron variant on rising hopes that virus will not set the global economy…
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US inflation and Omicron impact seen as key factors for dollar
The dollar index regained positive tone after a pullback from new 2021 high (96.92) was contained by Fibo 38.2% retracement level of 93.24/96.92 upleg, that marks a healthy correction of the recent advance, which accelerated on rising hopes…
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