Bulls are taking a breather after strong rally on Friday
Cable is consolidating under new two-week high (1.3910), posted after Friday’s 0.9% rally, as sterling accelerated higher on fresh risk mode, inspired by global equity gains.
Pound’s sentiment improves on expectations that the government…
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Bulls regain traction but more evidence needed to signal reversal
Cable regained traction on Friday after negative tone prevailed during this week, with three-day drop ending with a hammer candle that generated initial bullish signal.
Fresh advance nearly fully reversed losses of this week but needs lift…
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Britain’s economic recovery slowed in May despite improved health situation
Britain’s gross domestic product grew by 0.8% in May, well below forecasted 1.5% growth and downwardly revised April’s figure at 2%, signaling sharp slowdown in post-pandemic economic recovery.
Economists anticipated that the pace of…
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Profit-taking lifts Euro from three-month low
The Euro rebounds strongly on Thursday after failure to hold break below 1.1800 level, with fresh strength helped by oversold daily studies.
Fed minutes did not provide more evidence of QE tapering, while US jobless claims rose last week,…
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Risk aversion lifts safe-haven Swiss franc to a seven-month high vs Euro
The EURCHF cross was among top losers in early Thursday’s trading, being down 0.7% so far, as fresh risk aversion strongly lifted safe-haven Swiss franc.
Bears took out strong technical supports at 1.0886/70 (200DMA / June 11 former low)…
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Aussie dollar falls to seven-month low as investors rush into safety
AUDUSD
The Australian dollar fell to seven-month low vs US dollar (0.7425) on Thursday morning, pressured by drop in global bond yields and RBA chief Lowe’s rejection of market calls for early tightening.
Fresh weakness broke below last…
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USDJPY accelerates through key 110 support zone on fresh risk aversion
The USDJPY accelerated sharply lower in early European trading on Thursday, deflated by fresh risk aversion, mainly driven by a sharp fall in China’s government bond yields after authorities announced cuts in banks’ mandatory reserves in…
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Bears crack 1.1800 support and may accelerate on hawkish tone from Fed minutes
The Euro cracked 1.1800 support as bears attempt to resume downtrend after Tuesday’s upside rejection and close below 1.1836 Fibo support (76.4% of 1.1704/1.2266 ascend) generated bearish signal.
The single currency maintains negative tone…
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Gold extends gains into sixth straight day, awaits Fed minutes for fresh signals
Spot gold maintains firm tone and is on course for a sixth straight day in green, as Tuesday’s upside rejection at pivotal Fibo barrier at $1813 (38.2% of $1916/$1750) failed to negatively impact bulls, which regained traction and pressure…
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Dollar awaits Fed minutes for fresh direction signal
The US dollar index is in a quiet mode on Wednesday, ahead of release of Fed minutes.
Tuesday’s rebound reversed the most of shallow two-day pullback from new three-month high (92.75), suggesting that near-term bias remains with bulls.…
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