Near-term action lacks clear direction, 1.1290 Fibo level remains key
The Euro is standing at the back foot in early Monday following last Friday’s nearly 1% bounce, driven by weaker dollar on month-end sales and increased pressure as US traders are back after Thanksgiving holiday pause.
Friday’s rebound…
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Aussie extends weakness on fresh risk-off mode and pressuring key supports
The Australian dollar hit three-month low (0.7112) on Friday, pressured by fresh risk aversion after announcement that new highly-mutated variant of coronavirus has been detected.
The risk-off mode can escalate as many countries consider…
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Oil is on track for the biggest daily drop this year as fears on new virus variant further dent…
WTI oil fell over 6% since opening on Friday, in the steepest daily drop this year.
News that new variant of coronavirus, which could be more contagious and possibly resistant to the current vaccines was detected, raised fears that new…
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Yen rises sharply as new virus variant sparks strong risk aversion
The USDJPY collapsed in early Friday trading after news about new virus variant sparked sharp migration into safety.
The pair was down 1.2% in Asia and early Europe, making so far the biggest drop this year.
Fresh bearish acceleration…
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New virus variant shakes the markets in early Friday
The markets were shaken on Friday morning on news of newly identified and possibly vaccine resistant variant of coronavirus.
The new virus was detected in South Africa, Botswana and Hong Kong, with still little known about the variant…
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German economic activity and consumer morale weakened on high inflation and the fourth wave of…
German economy grew by 1.7% in the third quarter, pointing to a slowdown from the second quarter’s upwardly revised 2.0% growth and falling short of forecast for 1.8% expansion.
Weaker than expected economic expansion in the July –…
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Bearish techs and weak fundamentals keep the euro under strong pressure
The Euro is consolidating above new 5 ½ month low (1.1186) in early Thursday, but maintains firm bearish tone, reinforced by the recent break of pivotal Fibo support at 1.1290 (61.8% retracement of 1.0635/1.2349 ascend) and probe below…
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Limited correction may precede bearish continuation
Cable is trading within a narrow range in early Wednesday after hitting new 2021 low (1.3342) on Tuesday but failing to sustain break below previous low of Nov 12 (1.3353).
Overall structure remains bearish but long tail of…
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Oil price comes under fresh pressure on talks of releasing emergency reserves
WTI oil returned to red on Tuesday after Monday’s recovery attempt from new seven-week low lost steam on probe through broken Fibo support at $76.39 (38.2% of $61.83/$85.39) and failed to register daily close above this level.
Oil came…
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Aussie extends south after recovery stalled
The Australian dollar fell further and hit new seven-week low in early Tuesday, after short-lived Monday’s recovery attempts.
Fresh strength of the US dollar after Jerome Powell got the second term as Fed Chair, further deflated
the…
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