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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Oil prices remain well supported by expectations for further rise in global demand
WTI oil price kept firm tone on Monday and probed above $72 per barrel, following last week’s pullback from new 26-month high ($74.93) which briefly dipped below psychological $70 support.
Repeated failure to register close below rising…
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Cable bounces from nine-week low
Cable jumped from nine-week low in European trading on Monday, driven by 30% rise in share of Morrisons, after one of largest UK grocers rejected takeover, with weaker dollar after strong rally last week, adding to pound’s strength.…
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Aussie hit six-month low on firm greenback, strong iron ore’s drop
The Australian dollar is holding near new six-month low (0.7476) hit following last week’s nearly 3% drop after US central bank signaled earlier than expected action in changing monetary policy that inflated US dollar.
The Aussie was…
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Bears are taking a breather after last week’s 2% fall
The Euro is consolidating within a narrow range in early Monday’s trading following last week’s almost 2% drop, sparked by hawkish Fed.
Friday’s close below key Fibo support at 1.1918 (61.8% of 1.1704/1.2266) added to bearish signals…
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Turkish lira is holding near all-time low and about to enter uncharted territory
The USDTRY advanced 4% this week and approached new record high at 8.7536, posted on June 2, Fed’s signals of stimulus tapering and rate hikes, probably earlier than expected, strongly boosted dollar.
This week’s advance nearly fully…
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Gold is on track for the biggest weekly drop in 15 months
Bears are taking a breather on Friday after strong bearish acceleration in past two days started to run out of steam and found a footstep at key Fibo support at $1768 (61.8% of $1677/$1916 rally) and just above the base of rising and…
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UK retail sales drop in May and consumers spend more in hospitality following eased lockdown…
The UK retail sales unexpectedly fell in May, with month on month figure showing 1.4% drop following 9.2% rise in April and disappointed expectations for increase of 1.6%.
Annualized figure shows that retail sales were 24.6% higher than…
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