Bears are taking a breather above key 1.20 support
Upbeat German retail sales data helped the Euro to regain traction in early Monday, after 0.83% drop on Friday (the second biggest one-day loss in 2021) weakened the structure on daily chart by forming reversal pattern.
Bull-trap above…
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Sterling slips as BoE’s is unlikely to signal any change in the policy on the next…
The cross rose on Friday as pound was sold against its major counterparts on fading risk mode and traders awaiting BoE’s policy meeting next week.
The British central bank is unlikely to sign is unlikely to signal any tapering of its…
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Thursday’s shooting star and stronger dollar weigh on sterling
Cable accelerated lower in early Friday, driven by fading risk appetite and stronger dollar.
Five-day rally 1.3823 (Apr 22 trough) showed signs of stall and Thursday’s action formed a shooting star candle, while today’s weakness added to…
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Euro eases on weak German data, profit-taking
The Euro dips below 1.21 mark in European trading on Friday, pressured by greater than expected German economy’s contraction in Q1, and profit-taking ahead of May holidays in China and Japan, which are expected to reduce the activity and…
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China’s factory activity slows in April
China’s factory activity slowed in April, hit by reduced overseas demand, supply bottleneck and rising costs, official data released on Friday showed.
China’s manufacturing Purchasing Managers’ Index dropped to 51.1 in April from 51.9 in…
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US economic growth accelerated in Q1, jobless claims decrease for the fourth consecutive week
The US Gross Domestic Product increased at a 6.4% annualized rate in the first quarter, accelerating from 4.3% growth in the previous three-month period and beating expectations for 6.1% increase, in the second fastest GDP growth since the…
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Fresh advance offsets negative signal from Wed’s candle with large upper shadow
The dollar regained traction and jumped on Thursday, neutralizing negative signal from Wednesday’s bearish candle with long upper shadow, left on post- dovish Fed drop.
Near-term action remains underpinned by bear-trap under 107.75 Fibo…
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Break of trendline / Fibo barriers generated fresh bullish signal
The Euro rose to two-month high on Thursday, inflated by dovish Fed, while eventual close above key Fibo barrier and trendline resistance (1.2102/10) on Wednesday generated positive signal and added to bullish stance.
Fresh bulls eyes…
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Fed points to strengthening economy but says still not time for policy shift
The US Federal Reserve, as widely expected, left its interest rate and bond-buying program unchanged and said that loose monetary policy will remain for the foreseeable future even as it sees the economic recovery gaining pace and risks…
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Positive demand outlook lifts oil price to one-week high
WTI oil rose to one-week high on Wednesday, lifted by expectations of rising fuel demand that would offset fears about the impact of a surge in India’s coronavirus cases, while lower than expected build in US crude inventories (0.090 mln…
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