Bulls may accelerate on break of 2021 high
The pair remains within a narrow range under new 2021 high (109.36) as the dollar regained footing after being hit by dovish Fed on Wednesday.
Near-term action continues to trade above rising 10DMA which tracks the advance since Feb 24,…
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Sterling was lifted by dovish Fed, BoE in focus for fresh signals
Cable kept positive tone in early Thursday, following previous day’s post-Fed jump and retested pivotal 1.40 barrier which repeatedly capped recovery attempts last week, but so far without break higher.
As expected, the Fed was upbeat in…
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Another rise in US crude stocks keeps oil price under pressure
WTI oil fell below $64 per barrel and hit one-week low on Wednesday, after the report from the US Energy Information Administration showed another increase in weekly crude stocks.
US crude inventories rose by 2.4 million barrels in the…
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Bears on hold ahead of Fed
The Euro edged higher in European trading on Wednesday, shy of one-week low (1.1882) posted on Tuesday after three-day pullback following double-rejection at key 1.20 resistance zone.
Quiet near-term mode comes ahead of today’s key event –…
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It’s a Fed day today
The US Federal Reserve ends its two-day policy meeting today and is expected to issue new economic projections, with Chair Jerome Powell and his team looking for a potential economic boom in a way not seen since early 1970s.
The central…
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Cable falls to one-week low and risks deeper drop on break of pivotal supports
Cable was sold in early Tuesday’s trading and fell to one-week low, confirming negative near-term bias after long tails of candles in past two days suggested that fresh bears from a double rejection at 1.40, face headwinds.
Sterling came…
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Recovery in China’s factory and retail sector accelerated beyond expectations in early 2021
Impressive figures from China’s factory and retail sector signal that the economic recovery moved into a fast track at the first months of 2021 after being paralyzed by coronavirus pandemic in early 2020 and started a gradual recovery…
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Euro remains in red but bears need confirmation on clear break of key Fibo support at 1.1887
The Euro started trading on Monday in a negative mode and extended weakness following a double rejection at pivotal Fibo barrier at 1.1991 (38.2% of 1.2242/1.1835) reinforced nearby psychological 1.20 resistance.
Fresh bears probe again…
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Cable dips after repeated rejection at psychological 1.40 barrier
Cable fell one full figure in European trading on Friday, following repeated rejection at psychological 1.40 barrier, deflated by stronger dollar on rise of US yields, with UK economy’s contraction in January (although less then expected)…
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Britain’s economy shrank less than feared in January
Britain’s economy contracted by 2.9% in January after 1.2% rise in December, as a new wave of coronavirus pushed the country back into a lockdown that greatly reduced economic activity and the start of the country’s post-Brexit era hit hard…
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