Upbeat EU data lift Euro but daily cloud top continues to cap
The Euro regained traction and jumped towards the tops of the range that extends into fourth straight day, following anticipated mild reaction on ECB’s decisions on Thursday.
Upbeat EU PMI data signaled that the bloc’s economy was impacted…
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Eurozone economic recovery accelerates in April
The EU Purchasing Managers’ Indexes for Manufacturing and Services sectors, as well as Composite Index which combines both and is seen as good guide to economic health, rose above expectations in April, signaling that bloc’s economic…
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Britain’s retail sales surge in March on partial lifting of restrictions
UK retail sales surged by 5.4% in March from upwardly-revised 2.2% in February and heavily beat expectations for 1.5% rise, driven by a partial lifting of coronavirus lockdown restrictions that boosted consumer spending.
Strong rise in…
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President Biden’s historic tax increase plan for the rich to be released soon
The US President Joe Biden is expected to release his plan to increase taxes on the wealthiest Americans, as a plan of the US tax system overhaul aims to make rich companies and individuals pay more to fund a childcare, education and paid…
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US weekly jobless claims fall to the lowest in one year
The number of Americans filing new claims for unemployment benefits fell for the third consecutive week, signaling layoffs were receding, as re-opening economy boosted demand and brightened expectations for strong job growth in April.…
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Sterling dips on fresh safe-haven dollar buying
Cable accelerated lower on Thursday and broke pivotal Fibo support at 1.3879 (38.2% of 1.3669/1.4008 upleg), driven by stronger dollar on fresh safe-haven buying after India reported record number of new COVID cases, while better than…
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Euro remains directionless for the third straight day and eyes ECB for direction signal
The Euro edges higher in European trading on Thursday but remains within the range of past two days ahead of key risk event – ECB policy meeting.
Stronger action after the central bank meeting is unlikely to happen as the ECB is expected…
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Dollar holds in extended sideways mode but remains biased lower
The dollar is holding in a choppy range within daily cloud (spanned between 90.83 and 91.48) for the third consecutive day.
Larger bears from 93.45 (2021 high) are taking a breather above strong supports provided by 100DMA (91.00) and…
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Key Fibo support limits two-day pullback
Cable extends pullback into second day following failure at psychological 1.40 barrier on Tuesday.
Sterling came under additional pressure after data showed that UK inflation rose below forecast, with return into daily cloud also…
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Bull-trap and formation of reversal pattern warn of deeper pullback
The Euro stands at the back foot and pressuring 1.20 support after bulls stalled on approach to daily cloud top (1.2092) Wednesday.
Doji candle with long upper shadow that was formed on Wednesday, signaled strong upside rejection, while…
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