Bulls look for a weekly close above 1.2197 Fibo barrier to signal continuation
Bulls regained traction on Thursday and fade downside risk that emerged after post-Fed nearly 0.5% drop on Wednesday.
Fresh rise in German producer prices (the biggest increase in nearly a decade) added to Euro’s positive sentiment,…
Read More...
Read More...
Post-labor data advance faces strong obstacles
The Australian dollar rose in early Thursday’s trading after April’s labor report showed Australia’s jobless rate fell for a sixth consecutive month and hit the lowest since April 2020 at 5.5%, but employment declined by 30,600 against…
Read More...
Read More...
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…
Read More...
Read More...
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…
Read More...
Read More...
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…
Read More...
Read More...
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…
Read More...
Read More...
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…
Read More...
Read More...
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…
Read More...
Read More...
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…
Read More...
Read More...
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…
Read More...
Read More...