Bearish bias below thick daily cloud
The Euro remains in a choppy mode as the action stays capped under thick daily cloud, with long upper shadow on Friday’s candle pointing to strong upside rejection and keeping the downside vulnerable.
Bearish setup of daily moving…
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US consumer spending pauses in May but inflation rises
The US Federal Reserve’s main inflation gauge – core PCE price index – rose to 3.4% in May from 3.1% in April, posting its biggest annual increase in almost 30 years, with inflation being boosted by increased demand for services and supply…
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AUD/USD hits one-week high on fresh risk appetite
The Australian dollar rose to one-week high (0.7602) on Friday, lifted by fresh risk appetite as initial enthusiasm on hawkish Fed started o fade, as US policymakers remain split on risk view over surging inflation and large jobs deficit.…
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Sterling remains in red after dovish BoE
Cable remains in red for the second day, as dovish BoE faded hopes that the central bank would send initial signals of earlier than expected start of policy tightening due to surging inflation.
Reversal pattern is forming on daily chart…
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Euro regains traction on solid data but near-term outlook remains negative below daily cloud /…
The Euro is standing at the front foot on Thursday, inflated by upbeat German data and lower but above expectations US weekly jobless claims which increased pressure on dollar.
The single currency regained traction after two-day bounce…
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Bank of England stays on hold in June, not in hurry to start scaling back stimulus
The Bank of England, as widely expected, kept its benchmark interest rate at a record low and kept the size of its stimulus program unchanged in its June policy meeting.
The central bank opted to stay on hold and see if jump in inflation…
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German business morale surges to the highest since late 2018 in June
German business sentiment rose above expectations in June and hit the highest level since November 2018, driven by rising optimism about further economic recovery acceleration in the second half of the year.
The Ifo institute index rose…
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GBPUSD – BoE’s view on inflation and bond buying to define fresh direction
Cable is holding within a narrow range on Thursday, following strong three-day advance as investors await the outcome of BoE policy meeting.
The central bank is expected to leave its interest rate at a record low, but investors will focus…
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Dollar extends weakness after downbeat US PMI data but bears face headwinds from strong supports
The US dollar fell further against the basket of major currencies on Wednesday, pressured by weaker than expected US PMI data.
Although the US factory activity index rose to record high in June, Services PMI dropped significantly (June…
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Eurozone business grew at the fastest pace in 15 years in June
The Eurozone business growth accelerated in June at the fastest pace since 2006, due to further easing of lockdown measures on accelerated vaccination that boosted activity in all sectors of the economy, especially in bloc’s dominant…
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