Gold is trading under new multi-month high ahead of Fed minutes
Spot gold was up and down within almost $40 range on Wednesday but keeps overall bullish bias, ahead of the minutes of Fed’s Apr 27-28 policy meeting to gauge the central bank’s stance on interest rates.
The yellow metal, which is used as…
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The dollar holds firmly in red ahead of widely expected dovish Fed minutes
The dollar jumped on Wednesday, but gains proved to be short-lived and seen as positioning ahead of fresh push lower as the greenback remains firmly in red vs Japanese yen for the fifth straight day.
The sentiment soured on growing fears…
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Cable loses traction as European stocks extend weakness and offset positive impact from UK CPI data
Cable is losing traction in European trading on Wednesday, failing to capitalize from upbeat April’s UK inflation figures.
Pound faced strong headwinds at 1.4200 zone that was shown by long upper shadow of Tuesday’s daily candle.
Drop of…
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Break of key Fibo barrier adds to strong bullish stance
Bulls are fully in control and extend advance on Wednesday to test levels last traded in early January.
Tuesday’s 0.63% rally closed above important Fibo barrier at 1.2197 (76.4% of 1.2349/1.1704) and generated fresh bullish signal, with…
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Dollar falls to the lowest in nearly three months on fading Fed rate hike hopes / weak US data
The dollar holds in red against the basket of major currencies for the fourth straight day, pressured by fading hopes of Fed changing monetary policy soon and accelerated lower on Tuesday after poor US housing data further soured the…
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UK jobless rate falls and hiring rises in March as the country prepares for lifting restrictions
Britain’s unemployment fell and hiring rose in March despite the country was under a tight lockdown during this period, signaling that British companies were accelerating in preparations for lifting restrictions.
The unemployment rate…
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Cable rises to three-month high on recovery optimism, solid UK jobs data
Cable maintains firm tone and extends rally from bear-trap on 1.4049 Fibo support into third straight day.
Fresh bullish acceleration in early Tuesday was boosted by weaker dollar and better than expected UK labor data, as easing lockdown…
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Gold rises to the highest in over three months on worries over surging virus cases in Asia
Spot gold extended strong rally of last Thu/Fri (up 1.54%) on Monday and hit new highest level in more than three months ($1855), lifted by fresh safe -haven demand over worries on surging coronavirus cases in some Asian countries and…
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Bulls tighten grip and look for renewed attack at 1.2197 pivot
The Euro maintains bullish tone on Monday and hits one-week high, in extension of Friday’s 0.55% advance.
Bulls eye pivotal barriers at 1.2181/97 (May 11 upside rejection / Fibo 76.4% of 1.2349/1.1704) with close above the latter to signal…
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Bears lose steam after repeated failure at pivotal Fibo support
The Euro regained traction and jumped above 1.21 handle in early European trading on Friday, following repeated failure to close below pivotal Fibo support at 1.2068 (23.6% of 0.1704/1.2181 rally) that reduced risk of deeper pullback.…
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