Gold drops after repeated failure at $1800 barrier
Spot gold dips to the lowest in over one week on Friday, pressured by higher dollar and rise in US bond yields.
The price accelerated lower and down 0.2% in the US session, on track for the biggest daily loss since Oct 15.
The yellow…
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Eurozone economy grew faster than expected in Q3; inflation soared to 4.1%, twice the ECB’s target
The eurozone economic growth remained strong in the third quarter as the economy emerged from summer crisis sparked by new wave of coronavirus infections which resulted in lockdowns.
The economy grew by 2.2% in the third quarter, at the…
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Euro loses traction after strong post-ECB rally, but bulls are still in play
The Euro eases from new one-month high, posted after Thursday’s post-ECB 0.7% advance (the biggest one-day rally since May 5).
Traders reacted on ECB Lagarde’s less dovish than expected speech , while US GDP data miss added to positive…
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US economy slows more than expected in the third quarter
The US economy slowed significantly in the third quarter, due to rise in Covid-19 infections and persisting supply problems that caused shortages of a number of goods that reduced consumer spending.
The US Gross Domestic Product…
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Oil risks deeper pullback on surprise build of inventories and rise in new Covid-19 cases
The WTI oil extends weakness on Thursday and hit two-week low, following Wednesday’s 2.8% drop (the biggest one-day loss since Aug 4).
Oil prices came under increased pressure on surprise rise of US crude inventories last week (4.26 mln…
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Larger bulls likely to resume after consolidation
The USDJPY is standing at the back foot in European trading on Thursday, following a mild reaction on the outcome of BoJ policy meeting, earlier today.
The Bank of Japan kept ultra-easy policy as expected, with short-term interest rate…
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Euro would accelerate lower on expected ECB’s dovish stance
The Euro ticks higher in early European trading on Thursday but remains in in directionless mode for the third consecutive day, as markets await today’s ECB policy meeting and US Q3 GDP data for fresh direction signals.
The central bank is…
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Rising inflation supports the idea of early rate hike and inflates Aussie
The Australian dollar remains in a steady ascend for the third straight day, approaching new nearly four-month high (0.7546) posted on Oct 21, on renewed attack at key barriers at 0.7556/58 (50% of 0.8007/0.7106 / 200DMA).
Bulls…
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Optimistic outlook for economic growth lifts pound but the downside remains at risk
British pound regained traction and bounced from the lowest in over one week (1.3710), hit earlier today.
Optimistic tones from UK FinMin Sunak’s budget speech lifted sterling. Sunak announced stronger economic growth as the country…
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Gold eases after failing to hold gains above $1800, weighed by expectations for start of reducing…
Spot Gold eases after repeated failure to sustain gains above psychological $1800 barrier, with rising expectations that the US Federal Reserve could finally announce the start of reducing stimulus in its Nov 3 policy meeting and market…
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