Dollar falls further on BoE and ECB’s hawkish steer
The dollar index accelerated lower and hit the lowest in over two weeks on Thursday, following BoE and ECB’s policy meetings.
Near-term bears extend into fourth straight day, boosted by BoE’s hawkish hike and changed ECB’s narrative in…
Read More...
Read More...
BoE’s hawkish hike lifts cable through pivotal 1.3600 resistance
Cable extends advance into fifth straight day, with fresh acceleration through important 1.3600 barrier (Fibo 61.8% of 1.3748/1.3357 bear-leg) which hit two-week high, being sparked by BoE’s hawkish shift.
The Bank of England hiked…
Read More...
Read More...
Turkey’s inflation rises to highest in two-decades in January
Turkey’s inflation rose above expectations and hit the highest in twenty years in January.
Annualized figure jumped to 48.7% previous month, while monthly figure showed consumer prices rose 11.1% from December, with both figures…
Read More...
Read More...
Bear-trap underpins fresh recovery
The dollar regained traction after four-day fall stalled on attempts to clear key supports at 114.36/31 (55DMA / Fibo 61.8% of 113.47/115.68).
Fresh strength signals formation of a bear trap, which underpins recovery, but requires…
Read More...
Read More...
Gold rises above $1800 on weaker dollar but fresh bulls need more evidence to signal reversal
Spot gold regained traction after last week’s sharp post-Fed fall and bounced above key $1800 level.
Recovery from new 1 ½ month low ($1780) extends into second day, driven by weaker dollar, as traders collected profits after euphoria on…
Read More...
Read More...
Bulls take a breather ahead of OPEC+ meeting, crude inventories
WTI oil is consolidating under new seven-year high ($88.81), posted after six consecutive weeks of gains, as overbought daily studies and expectations of a rise in US crude inventories prompted some profit-taking.
Overall picture…
Read More...
Read More...
Sterling regains traction but awaits more signals from the outcome of BoE policy meeting
Cable stands at the front foot for the second day, correcting a 2% drop of past two weeks. The bounce was signaled by oversold conditions and sparked by fresh risk demand, with 23.6% of 1.3748/1.3357 bear-leg being reversed so far.…
Read More...
Read More...
Aussie jumps on fresh risk demand as key 0.70 support zone continue to provide strong headwinds to…
Aussie rebounds on Monday, lifted by global equity gains, recovering after last week’s nearly 3% fall (the biggest weekly loss since mid-August).
Bears retested very strong 0.70 support zone and managed to register weekly close…
Read More...
Read More...
Limited correction likely to precede fresh weakness
Bears are consolidating above new seven-month low (1.1145, posted on last week’s 1.74% fall) on Monday, with limited bounce before larger bears regain full control, seen as likely scenario.
Oversold stochastic on daily chart…
Read More...
Read More...
The dollar pulls back from new multi-month high on overbought conditions, larger bulls remain intact
The dollar index edges lower in early Monday’s trading, following last week’s 1.6% advance (the biggest weekly rally since early June 2021) that resulted in hitting the highest in 18 months.
The greenback was lifted by growing…
Read More...
Read More...