Upbeat UK retail sales data add to positive post-BoE tone
Cable is holding positive tone in early Friday following Thursday’s rally to 1.3374 (three-week high) after surprise BoE rate hike.
Upbeat UK retail sales data (Nov 1.4% m/m from 1.1% in Oct and vs 0.8% f/c) provide additional support to…
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Bank of England was the first among major central banks to raise rates after pandemic, as inflation…
The Bank of England raised interest rates by 15 basis points to 0.25% in its last policy meeting this year, being the first of the world’s central banks to increase interest rates after the coronavirus pandemic.
The nine-member MPC voted…
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Dollar eases in post-Fed ‘buy the rumor – sell the fact’ action, but larger bulls…
The dollar extends weakness in early Thursday’s trading, following a post-Fed’s drop in a typical ‘buy the rumor, sell the fact’ action.
The US central bank was more hawkish that expected with decision to accelerate tapering its bond…
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Strong UK jobs data underpin pound but upticks were limited
Cable edged higher in European trading on Tuesday, underpinned by strong UK jobs data for October, but upticks were so far limited as near-term action remains weighed by thick weekly cloud.
Also, fragile political situation in the UK, on…
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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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