The US economy contracted at the fastest pace in 74 years in 2020, devastated by Covid-19 pandemic
The US economy slowed significantly in the last quarter of 2020, following strong rebound in Q3, as coronavirus pandemic hurt the labor sector and spending.
Gross Domestic Product grew at 4% in the fourth quarter, mainly in line with…
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Aussie falls to one-month low on risk aversion
The Australian dollar dips to one-month low (0.7592) in European trading on Thursday, being under increased pressure from faded risk mode.
The pair fell 1.3% on Wednesday, with today’s extension lower, completing reversal pattern (bearish…
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DAX dips further on deflated risk sentiment
The index holds firmly in red for the second straight day and extends 2.45% drop of the previous day (the biggest one-day fall since Oct 28).
Concerns of high valuations of stocks and growing worries about a rise in more contagious…
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Bulls crack key barriers and shift near-term bias to the upside
The pair rose further on Thursday, extending Wednesday’s 0.45% rally (the biggest one-day gains since Jan 7).
The dollar benefited from fresh weakness of stocks, pressured by concerns about excessive values of stock markets.
Fresh advance…
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Fed keeps monetary policy on hold to support crisis-fighting mode
The Federal Reserve, as expected, left ultra-low interest rate unchanged and made no changes to the amount of asset purchases, pledging to keep those tools in place until the economy fully rebounds from the recession, caused by pandemic.…
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Slump in crude inventories boosts bulls for another probe through key 200WMA
WTI oil price jumped after data showed unexpected and sharp fall in US crude inventories which plunged 9.9 million barrels, following last week’s build of 4.3 million barrels and expectations for 0.4 million barrels rise.
Today’s report…
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Fed is expected to stay on hold as the impact of vaccines and fiscal support against pandemic is…
The US Federal Reserve is expected to keep the monetary policy unchanged in crisis-fighting mode in its first policy meeting this year.
The economy is still struggling through the shock of a pandemic as ragging new wave of Covid-19 virus…
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Rising risk of ECB further rate cut deflates euro ahead of Fed
The Euro fell to a session low, accelerating lower some 3 pips in European trading on Wednesday, deflated by a comment from ECB’s governing council member Klaas Knot who said that the central bank has room to cut its deposit rate further if…
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Expected dovish stance from Fed could lift cable for clear break of 1.37 zone
Cable rose to new 32-month high in early Wednesday’s trading, extending Tuesday’s 0.5% advance on revived risk mode.
Fresh strength broke above last week’s new high at 1.3745 and eyes targets at 1.3772 (May 2018 high) and 1.3800…
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The Euro bounces on fresh risk mode, underpinned by thick daily cloud
The Euro rebounds in Tuesday’s afternoon trading after sharp fall in Europe, as fresh risk mode prompted traders to collect profits from safe havens, bought earlier today.
Dips also faced strong headwinds on approach to top of thick rising…
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