UK economic growth slowed in Q3; Omicron expected to hurt the economy further
Great Britain’s gross domestic product increased by 1.1% in the third quarter, weaker than expected growth of 1.3% and well below the economy's 5.4% expansion in the second quarter when many coronavirus restrictions were lifted.
The…
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Lira has registered the record one-day rally on President Erdogan’s new anti-dollarization…
USDTRY was the top performer on Monday and early Tuesday, in a generally slowing pre-holiday market, shook strongly twice by the comments from Turkish President Erdogan.
The currency accelerated to new historical low against the US…
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Yen gains traction on risk aversion, doubts about Fed rate hikes
The pair stands at the back foot on Monday, as traders move to safety on growing Omicron concerns and market views that Fed’s planned rate hikes may not be achievable that weakens near-term sentiment.
The action is also weighed by a double…
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Near-term action extends sideways mode but larger picture remains bearish
The Euro bounces on Monday, reversing over 50% of Friday’s 0.85% drop and bringing the price to the middle of the range that extends into fifth straight week.
Fresh strength partially offsets negative signal from last week’s bearish close…
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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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