Bulls are consolidating ahead of fresh push through pivotal 1.21 resistance zone
Bulls are taking a breather after Monday’s failure to clearly break through important Fibo barrier at 1.2102 (61.8% of 1.2349/1.1704) and the action was capped by bear-trendline (1.2114) connecting tops at 1.2349 and 1.2242.
Monday’s daily…
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The dollar is consolidating on Monday after 0.5% drop on Friday, but remains in red, weighed down by Friday’s big bearish daily candle and close below the base of ascending daily cloud.
Additional bearish signal has been generated on…
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German business morale improved much below expectations in April due to third wave of COVID…
The German Ifo business climate index rose to 96.8 in April from 96.6 in March, disappointing expectations for strong rise to 97.8, the highest since May 2019.
Slight improvement in business morale reflects Germany’s continuous efforts…
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Sterling regained traction but continues to move within daily cloud
Cable extended Friday’s bounce and rose above 1.39 mark in early European trading on Monday but continues to trade within daily cloud (1.3844/1.3957) which started to narrow and will twist later this week.
Break of cloud top would generate…
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Euro hits two-month high, expected strong German Ifo data to further boost bulls
The Euro cracked pivotal Fibo barrier at 1.2102 (61.8% of 1.2349/1.1704) in early Monday and hit two-month high (1.2116 – bear-trendline off 1.2349 peak) in extension of Friday’s 0.68% rally (the biggest one-day advance since Feb 5).
The…
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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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