Upbeat inflation and labor data support sterling for break of the upper triangle boundary
Cable remains within choppy and narrowing range on Thursday, despite strong UK inflation and labor data, as well as dovish tone from Fed’s chief Powell.
Improving conditions in the UK labor sector suggest that economic recovery is gaining…
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China’s economic activity slows in Q2
China’s economic growth slowed below expectations in the second quarter, as higher prices of raw materials and new coronavirus outbreaks weighed on economic activity.
Economic growth slowed significantly from a record 18.3% expansion in…
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Recovery loses traction after dovish Lagarde’s comments
The Euro is consolidating under pivotal barriers at 1.1880/85 (recovery highs / falling 20DMA) after the action in past two days repeated failed at these levels.
Strong China’s trade data, released earlier today, boost the risk sentiment,…
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Bulls need to clear Fibo barrier at 92.52 to signal continuation; US CPI and Fed Powell testimony to…
The US dollar regained traction on Monday after 0.66% drop in past two days.
The pullback from new three-month high (92.82) was so far shallow, keeping intact the uptrend from 89.50 (May 25 low).
A significant decrease in dollar’s net…
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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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