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…
Read More...
Read More...
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…
Read More...
Read More...
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…
Read More...
Read More...
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…
Read More...
Read More...
Eurozone investor morale falls further on new pandemic measures
The Eurozone Sentix index which tracks investor confidence, fell to 13.5 in December from 18.3 previous month and well below 15.9 consensus, hitting the lowest since April.
Weak numbers signal EU bloc’s that investor morale weakened…
Read More...
Read More...
Fresh strength needs close above daily cloud to lessen downside risk
The pair regains traction and probes above daily cloud after being congested in past three days.
Rising and thickening daily cloud underpins the action which needs close above cloud top (113.29) to strengthen near-term structure generate…
Read More...
Read More...
Near-term action is still directionless but larger picture remains bearish
The EURUSD is standing at the back foot in early Monday’s trading and probing again through 10 DMA (1.1281) which marks significant support as the pair has registered six consecutive daily closes above it.
This has generated a positive…
Read More...
Read More...
US job growth slows significantly in November
The US Non-farm payrolls increased by 210,000 jobs in November, falling well below expectations for 550,000 increase and against upwardly revised October’s figure from 531,000 to 546,000, while the expectations ranged between 300,000 and…
Read More...
Read More...
Aussie cracks key supports on Omicron concerns
Bears from 0.7555 (Oct 28/29 double-top) faced headwinds from key Fibo support at 0.7053 (38.2% of Mar 2020/Feb 2021 0.5509/0.8007 rally) with third consecutive probe through initial support at 0.7106 (Aug 20 former low) looking for…
Read More...
Read More...
Recovery likely to be limited but formation of weekly hammer warns
Cable gained traction in early Thursday and edges above 1.33 mark, after spike to new 2021 low (1.3194) was short-lived.
Larger bears faced strong headwinds at 1.3275/50 zone Fibo 61.8% of 1.2675/1.4249 upleg / weekly cloud base), with…
Read More...
Read More...