Bear trap signals boost recovery but near-term picture is still mixed
The Euro extends gains above 1.13 mark in early Tuesday, following sideways mode previous day, but managed to register the second consecutive daily close above 10DMA (1.1281) that adds to signals of a bear trap under 1.1290 Fibo support.…
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Oil price rebounds after 12.5% drop on Friday; OPEC sees a reaction on Omicron news as overdone, not…
WTI oil regained traction on Monday and bounced close to $73 per barrel, following a massive 12.5% drop on Friday, sparked by fresh fears that new Omicron variant would hurt global demand.
Oil prices rose after markets digested the news,…
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Omicron concerns limit recovery and keep the downside at risk
Recovery attempts from new 2021 low (1.3278), posted after Omicron shock last Friday, were so far limited and unable break above Friday’s high (1.3362).
Risk-sensitive pound remains influenced by fears of the impact of new coronavirus…
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Fresh bears hold grip but face strong headwinds from key Fibo support
The USDJPY remains in red following Friday’s selloff (the pair was down 1.7%, the biggest daily fall since March 2020) driven by fears of new Omicron variant of coronavirus.
Friday’s massive bearish daily candle weighs heavily but bears…
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Near-term action lacks clear direction, 1.1290 Fibo level remains key
The Euro is standing at the back foot in early Monday following last Friday’s nearly 1% bounce, driven by weaker dollar on month-end sales and increased pressure as US traders are back after Thanksgiving holiday pause.
Friday’s rebound…
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Aussie extends weakness on fresh risk-off mode and pressuring key supports
The Australian dollar hit three-month low (0.7112) on Friday, pressured by fresh risk aversion after announcement that new highly-mutated variant of coronavirus has been detected.
The risk-off mode can escalate as many countries consider…
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Oil is on track for the biggest daily drop this year as fears on new virus variant further dent…
WTI oil fell over 6% since opening on Friday, in the steepest daily drop this year.
News that new variant of coronavirus, which could be more contagious and possibly resistant to the current vaccines was detected, raised fears that new…
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Yen rises sharply as new virus variant sparks strong risk aversion
The USDJPY collapsed in early Friday trading after news about new virus variant sparked sharp migration into safety.
The pair was down 1.2% in Asia and early Europe, making so far the biggest drop this year.
Fresh bearish acceleration…
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New virus variant shakes the markets in early Friday
The markets were shaken on Friday morning on news of newly identified and possibly vaccine resistant variant of coronavirus.
The new virus was detected in South Africa, Botswana and Hong Kong, with still little known about the variant…
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German economic activity and consumer morale weakened on high inflation and the fourth wave of…
German economy grew by 1.7% in the third quarter, pointing to a slowdown from the second quarter’s upwardly revised 2.0% growth and falling short of forecast for 1.8% expansion.
Weaker than expected economic expansion in the July –…
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