US job growth likely picked up in June
The closely watched US non-farm payrolls report is expected to show that employment likely accelerated in June, as improving conditions on economy reopening boosted demand for labor, prompting companies to raise wages to attract a number of…
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Oil price surges to multi-month high on demand optimism, increased output
WTI oil price surged above $76 per barrel on Thursday, hitting the highest since October 2018, supported by growing prospects of strengthening global demand, falling US inventories and OPEC+ decision to start gradually adding about 2…
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The number of Americans filing new claims for unemployment benefits continues to fall
US initial claims for state unemployment benefits fell by 51,000 to 364,000 in the week ending June 26, hitting the lowest since the third week of March 2020, just ahead of coronavirus outbreak in the United States.
Jobless claims…
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Bears accelerate on dovish comments from BoE’s Governor Bailey
Cable continues to travel south for the sixth straight day and hit 11-week low on Thursday, after dovish tone from BoE Governor Bailey’s speech accelerated bears.
Fresh weakness broke through pivotal support at 1.3786 (June 21 low)…
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Dollar maintains firm tone but US labor data likely to signal direction
The US dollar keeps firm tone and hit three-month high in early Thursday, following 2.44% monthly rally in June, mainly driven by hawkish shift in Fed’s rate outlook.
The dollar index looks set for further advance after completion of…
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New virus spread and soured risk sentiment keep Aussie dollar under increased pressure
The Australian dollar remains in red and hit new lowest in over one week on Thursday, following Wednesday’s 0.74% drop.
Spread of new coronavirus Delta variant triggered fresh restrictions across Australia that further soured risk…
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US private payrolls rise above expectations in June
The ADP National Employment Report showed US private payrolls increased above expectations in June as rapid reopening of the economy boosted production and services, prompting companies for employing more workers.
Private payrolls rose…
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Bulls continue to struggle at daily cloud base / bear-channel upper boundary
Near-term action remains limited by daily cloud (spanned between 0.8595 and 0.8633) for the fourth consecutive day, as repeated penetrations into the cloud were so far short-lived.
Upside was additionally limited by the upper trendline of…
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Bears take a breather ahead of strong supports at 1.3800 zone
Cable bounced on Wednesday after retesting 1.3814 (one-week low posted on Tuesday), as traders took some profits from four-day drop.
Near-term bears face headwinds from strong bids at 1.3800 zone (1.13814 (Today/Tue lows / 1.3791/86 – lows…
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China’s economic growth slows in May on supply shortages and coronavirus outbreak
China’s economic activity slowed in June, weighed by higher raw material costs, persisting supply shortage amid wider supply chain disruptions, particularly in semiconductors and coronavirus outbreak in China’s major export province.
The…
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