WTI price continues to rise on growing supply concerns
WTI oil extends gains on Wednesday and hit new highest levels since October 2014, driven by supply concerns, boosted by fresh supply disruptions caused by a fire on a pipeline between Iraq and Turkey, which briefly stopped flows, adding to…
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Sterling bounces on rising expectations for another rate hike as inflation hits the highest in 30…
Cable regained traction and bounced on Wednesday, signaling an end of three-day pullback, sparked by a double rejection at 200DMA (1.3733) last week.
Pound was boosted by UK CPI data which showed that inflation in Britain continued to rise…
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UK inflation rises to highest in nearly three decades in December
Inflation in Britain rose above expectations in December and hit its highest since March 1992, increasing pressure on the Bank of England to raise interest rates again in its next policy meeting in early February.
Consumer prices jumped…
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US retail sales drop significantly in December as Omicron cases surge and supply issues persist
The US retail sales unexpectedly dropped by 1.9% in December after 0.2% increase previous month and disappointed expectations for 0.1% drop.
Sharp fall was mainly caused by surge in coronavirus Omicron variant infections and big shortages…
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Britain’s economy returns to pre-pandemic size following bigger than expected growth in November
Britain's economy grew more than expected in November and eventually reached the size bigger than in pre-pandemic period in early 2020, before the country went into its first lockdown.
The world's fifth-biggest economy expanded by 0.9%…
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US weekly jobless claims rose last week on soaring Omicron cases
The US weekly jobless claims increased by 23,000 from previous figure to a seasonally adjusted 230,000 for the week ended Jan 8, beating forecast for 200,000 applications.
Strong rise in new Covid-19 infections is mainly to be blamed for…
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Break above thick daily cloud and weekly bullish engulfing signal further advance
Aussie holds firmly in green for the third straight day, lifted by weaker US dollar, after more cautious than expected tone from Fed chief Powell disappointed investors.
Bulls probe above 0.73 level following Wednesday’s 1.04%…
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Bears tighten grip and eye targets at 114 and 113.63
The remains in red on Thursday and trading near new 2 ½ week low, hit after Wednesday’s post-US CPI drop (the biggest daily fall since Nov 26).
Long tails of yesterday’s and today’s candle signal that bears face headwinds at 114.44 Fibo…
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Dollar index falls to two-month low on ‘buy the rumor-sell the fact’ scenario
The dollar continues to travel south in early Thursday, extending previous day’s 0.63% post-US CPI data drop (the biggest one-day fall since Oct 28).
The dollar came under pressure after Fed Powell’s speech, which investors saw as too…
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Cable rises further as dollar failed to react on US inflation data
Cable rose further on Wednesday and broke above Fibo barrier at 1.3675 (76.4% of 1.3834/1.3161 bear-leg) to pressure 1.3700 zone (Nov 4 pre-BoE high / psychological) with 200DMA (1.3735) coming in sight.
Sterling benefited from fresh risk…
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