Post-FOMC acceleration signals that uptrend could extend further
The Australian dollar holds in steep ascend for the second consecutive week and accelerated to five-week high on Thursday after FOMC minutes deflated the US dollar.
Bulls broke above 0.7405/14 (Fibo 76.4% of 0.7478/0.7170 / falling 100DMA)…
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Recovery lacks strength to clear pivotal barriers
The Euro holds for the second day in a corrective mode off new nearly 15-month low at 1.1524, where weekly cloud base contained larger downtrend, helped by weaker dollar.
Wednesday’s long bullish candle (the pair was up 0.53% for the day)…
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Weaker dollar and rising inflation lift gold
Spot gold rose sharply on Wednesday (up 1.82% for the day, the second biggest daily advance in 2021) lifted by weaker dollar on further rise in US inflation and unclear situation regarding the start of tapering stimulus, which markets…
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Extended pullback from one-year high warns of deeper correction
The dollar extends lower on Thursday, following Wednesday’s 0.52% drop, with Wednesday’s close below 10DMA (94.14) and today’s drop through Fibo 23.6% of 91.92/94.55 upleg, generating initial reversal signal.
After minor negative impact…
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US consumer prices rose further in September, challenging Fed’s view of transitory inflation
The consumer prices in the US rose 0.4% in September, after climbing 0.3% in August, while annualized figure showed increase of 5.4% in twelve months to September, from 5.3% advance in August.
So called core CPI, which excludes volatile…
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Britain’s economy returns to growth in August, boosting hopes for BoE rate hike
Britain’s gross domestic product rose by 0.4% in August, slightly below expected 0.5% expansion, after 0.1% fall in July, the first contraction in six months.
Solid numbers suggest that economy returned to growth and July’s drop was…
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China’s exports unexpectedly surged in September
China’s exports unexpectedly rose in September, jumping 28.1% from 25.6% advance in August and strongly beating expectations for 21% increase.
Acceleration in export growth was supported by solid global demand that partially offset…
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Bears regain control after mild recovery; downbeat German ZEW data further sour the sentiment
The Euro lost traction on Tuesday and fell towards last week’s new multi-month low (1.1529) after recovery attempts were repeatedly capped by falling 10DMA (currently at 1.1575).
Fresh weakness suggests that relief from downbeat US NFP was…
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USDTRY hits new record high on fears that the CBRT would cut rates again next week
The USDTRY rose through 9.00 barrier and hit new all-time high on Tuesday.
Lira remains under pressure which increased on fears that Turkish central bank would make another rate cut in the policy meeting, scheduled next week, after the…
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Record high in UK payrolls in September bode well for BOE’s signals of first rate hike
British employers added a record 207,000 new jobs in September, unemployment ticked down to 4.5% in the three months to August from 4.6% in previous three-month period, while average weekly earnings were 7.2% higher in August compared to…
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