Gold falls to nine-month low after breaking key supports
Spot gold broke through $1700 handle and fell to nine-month low on Friday, extending larger downtrend after remarks from Fed’s Chair Jerome Powell lifted dollar and bond yields.
The yellow metal is on track for the third straight weekly…
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Euro extends through key supports after strong fall on Thursday
The Euro extends weakness in early Friday’s trading and probes through key short-term supports at 1.1952/45 (Feb 5 low / Fibo 23.6% of 1.0637/1.2349), following strong bearish acceleration on Thursday which resulted in close below…
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US jobless claims increase moderately, but optimism about further recovery in the US labor sector…
US initial claims for state unemployment benefits rose to 745,000 for the week ended February 27, compared to downwardly revised 736,000 previous week, but fell below forecasted 750,000.
Increase of the number of Americans filling for…
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Markets await OPEC+ decision for fresh signals
WTI oil eases in European trading on Thursday following previous day’s bounce that sidelined fresh bears on pullback from new multi-month high at $63.79.
Oil prices remained mainly unaffected by a record surge in US crude inventories of…
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Return below thick daily cloud brings bears back to play
Near-term structure weakens further on Thursday as fresh bears gain pace and return below daily cloud base (which contained Wednesday’s dip), offsetting positive signal from Tuesday’s strong downside rejection (long tail of daily candle)…
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Bulls crack key barriers but overbought conditions warn
Bulls extend steep ascend and hit new highest levels since mid-July in early Thursday’s trading, cracking pivotal barriers at 107.15/23 (Fibo 50% of 111.71/102.59 / 100WMA).
This area is seen as a breakpoint and bulls will tighten grip…
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US private sector payrolls increased well below expectations in February
The US ADP National Employment Report for February showed that private payrolls rose by 117,000 compared to upwardly revised January’s 195,000 and also disappointed expectations for increase by 177,000.
Job losses in manufacturing and…
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EU economy is likely in a double-dip recession but improved data boost optimism
Eurozone’s Composite Purchasing Managers’ Index, which gives good indication of economic health, rose to 48.8 in February from 47.8 previous month and overshot 48.1 forecast, but remains firmly below the 50 threshold which separates growth…
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Sterling eyes signals from PMI data and 2021 budget
Cable edges higher in early Wednesday’s trading but remains within range, capped by 1.40 level, now reverted to solid resistance.
Pullback from new nearly three year high showed signs of stall after being repeatedly contained by rising…
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Bears crack psychological 1.20 support
The Euro tumbles on Tuesday as downbeat German retail sales data contributed to bearish near-term tone.
Bears remain firmly in play for the third straight day, despite Monday’s failure to close below the base of daily Ichimoku cloud and…
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