Near-term action lack direction due to mixed signals
Spot gold probed again below $1800 support on Wednesday, as rising dollar dents metal’s safe-haven appeal, but growing fears about pandemic resurgence and new lockdowns could hurt global economic recovery, keep the metal afloat.
The price…
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Bears remain in play but face headwinds from key supports; ECB in focus
The Euro hit new 3 ½ month low (1.1751) in European session on Wednesday. But bears started to face headwinds on approach to key supports at 1.1704/1.1694 (2021 low, posted on Mar 31 / Fibo 38.2% of 1.0635/1.2349 rally), that resulted in…
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Recovery probes above 110 pivot, underpinned by bear-trap
Bulls regained control as bounce from Monday’s seven-week spike low extends into second straight day and probe above pivotal 110 barrier (psychological / Fibo 38.2% of 111.65/109.09 fall).
Strong downside rejection on Monday formed a…
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Aussie falls to 8-month low, pressured by weaker than expected Australia’s retail sales,…
The Australian dollar dipped below 0.73 support in early European trading on Wednesday, extending steep fall into fifth straight day, pressured by rising US dollar.
Much stronger than expected drop in Australia’s June retail sales, caused…
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Risk-off mode minimizes positive impact from freedom day
Cable remains offered on Tuesday hit new 4 ½ month low in extension of Monday’s 0.73% fall, driven by risk aversion on growing concerns on global and local spread of Covid-19 Delta variant.
Investors continue to sell pound, showing very…
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Dollar remains inflated by risk aversion on Delta variant spread
The dollar remains steady in early Tuesday’s trading and retested new 3 ½ month high (93.03), posted after bullish acceleration on Monday.
Global spread of highly contagious Delta variant of coronavirus raised fears of a pandemic…
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Oil price slumps after OPEC+ agreed to increase production
WTI oil price collapsed on Monday after OPEC+ group eventually reached an agreement to boost output from August and cool oil prices that rose to the highest levels in nearly seven years.
Strong bearish acceleration (the contract is so…
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Cable hits 11-week low, pressures 200DMA support
Cable extends weakness into third straight day (down nearly 0.5% in Asia / early Europe on Monday) and pressures strong 1.3700 support zone (round-figure / 200DMA).
Last week’s break below the triangle and today’s extension below…
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Risk off mode keeps euro under pressure
The Euro holds in red for the third straight day and accelerates below 1.18 handle in early Monday.
Quick spread of Delta variant of coronavirus sours the sentiment and fuels fresh risk aversion that keeps the Euro under pressure.…
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US retail sales unexpectedly jump in June
US retail sales jumped 0.6% in June from downwardly revised 1.7% drop in May, while economists forecasted decline of 0.4%.
Unexpected increase was boosted by persisting strong demand for goods, despite spending was shifted to services…
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