Bulls hold grip despite weak GDP and pressure key 1.39 resistance zone
Cable extends strong advance into the second straight day as bulls ignored weak July GDP data but remain underpinned by weaker dollar and BOE’s 4-4 split on possible rate hike, ahead of central bank’s Sep 23 policy meeting.
The action was…
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UK economy slows significantly in July on surge in new Delta variant cases
The UK economy grew just 0.1% in July, compared previous month’s upwardly revised 1% growth and also disappointed expectation for an increase of 0.6%.
July data point to the smallest monthly increase since January, when the country went…
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European Central Bank trims its emergency bond purchases but says this is not tapering
‘The lady isn’t tapering’, ECB President Christine Lagarde said on today’s press conference following the central bank’s policy meeting.
There was no surprise from the ECB, although some analysts talked about possible shock from more…
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The euro would appreciate on tapering signals from ECB but would come under increased pressure on…
Three-day pullback from six-week high (1.1909) found footstep at 1.1815/10 zone (Fibo 38.2% of 1.1664/1.1909 upleg / 55DMA) and edges higher in European session on Thursday, lifted by better than expected German data.
Wednesday’s close…
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Dax falls over 1% in pre-ECB trading
The Dax accelerated lower on Wednesday, extending weakness into the second consecutive day and being on track for the biggest one-day loss since July 19.
Global stocks eased on worries about the slowing pace of global economic recovery,…
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The Reserve Bank of Australia trims bond-buying but extends the program to February
The Reserve Bank of Australia kept interest rates at a record low in its September policy meeting as widely expected and also extended asset purchases to at least mid-February 2022 but surprised by reducing its bond-buying by A$1 billion to…
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Aussie is pausing ahead of key event – RBA policy meeting on Tuesday
Bulls are taking a breather on Monday after strong gains in past two weeks, as volumes thinned due to US holiday and traders awaiting early Tuesday’s RBA policy meeting for more information about tapering decision.
The action is supported…
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Euro eases from one-month high, but more evidence is needed to signal reversal
The Euro starts the week in negative mode and signaling correction after strong rally in past two weeks, as the dollar regained traction following a big US non-farm payrolls miss that fades Fed tapering expectations.
Last Friday’s Doji…
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Dollar remains firmly in red despite weak US jobs report
The dollar kept bearish tone despite much weaker than expected US non-farm payrolls report that was expected to depress the risk mode and lift safe-haven greenback.
Investors remained cautiously optimistic and assuming that weak labor data…
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US non-farm payrolls fell sharply in August
The US Labor Department’s closely watched nonfarm payrolls report strongly disappointed in August as only 235,000 jobs were created last month, compared to upwardly revised July’s figure to 1.053 million and average forecast for increase of…
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