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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Near-term action sees risk of further weakness
Last week’s strong upside rejection at the base of thick daily cloud (1.1974) and subsequent drop, warn of further weakness.
Near-term action is weighed by bearish daily studies and a massive cloud, keeping in play risk of attacking…
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Aussie extends weakness on new lockdowns, iron ore losses
The Australian dollar holds in red for the second straight day and extends weakness after last week’s recovery was strongly rejected on Friday.
The Aussie is pressured by falling iron ore prices, Australia’s biggest export earner, and new…
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Cable lacks direction on Monday but thick daily cloud weighs
Monday’s Doji candle signals directionless near-term action after last week’s recovery was capped by psychological 1.40 barrier and subsequent weakness found footstep at 1.3868 (Fibo 61.8% of 1.3786/1.4001 upleg).
Rising and thickening…
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Bulls regain traction after shallow pullback; US jobs data eyed for fresh signals
The dollar regained traction on Monday after two-day pullback from new three-month high (111.11) found strong bids at 110.50 (rising 10DMA) zone, with Friday’s long-tailed candle pointing to downside rejection.
Bullish daily studies…
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