Bulls tighten grip and look for renewed attack at 1.2197 pivot
The Euro maintains bullish tone on Monday and hits one-week high, in extension of Friday’s 0.55% advance.
Bulls eye pivotal barriers at 1.2181/97 (May 11 upside rejection / Fibo 76.4% of 1.2349/1.1704) with close above the latter to signal…
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Bears lose steam after repeated failure at pivotal Fibo support
The Euro regained traction and jumped above 1.21 handle in early European trading on Friday, following repeated failure to close below pivotal Fibo support at 1.2068 (23.6% of 0.1704/1.2181 rally) that reduced risk of deeper pullback.…
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US jobless claims fall further but still hold well above the range that indicates healthy labor…
The US weekly jobless claims continue to fall and hit the lowest levels since pre-pandemic period in the week ending May 8.
Initial claims for state unemployment benefits fell to 473,000 from 507,000 previous week and beat 490,000…
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Fresh bears face headwinds at 1.40 support
Cable extended Wednesday’s 0.64% fall and fell ticks ahead of psychological 1.40 support on Thursday.
Fresh risk aversion on upbeat US inflation figures that fueled a fall in global equities, weighs heavily on risk sensitive pound.
Bids…
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Strong bullish bias above thick daily cloud
The dollar maintains firm tone vs yen on Thursday and consolidating above the top of thick daily cloud after 0.93% advance on Wednesday (the biggest one-day rally in 2021).
Strong bullish acceleration after upbeat US CPI data signaled…
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Firm break of 1.2068 Fibo support needed to signal deeper pullback
The Euro edges higher in early European trading on Thursday following 0.62% drop on Wednesday after strong US inflation data deflated risk mode.
Wednesday’s drop came after multiple upside rejections that left long upper shadows on daily…
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Bulls regained traction after inflation surprise but recovery is still fragile
The dollar stands tall in early Thursday’s trading after being lifted by surprisingly strong rise in US consumer prices.
The index is consolidating under new one-week high, following 0.65% advance on Wednesday that generated initial…
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US consumer prices rose in April by the most since 2009
The report from the US Bureau of Labor Statistics showed the inflation rose 0.8% m/m in April from 0.6% in March and well above 0.2% consensus, while annualized figure jumped to 4.2% in April from 2.6% in March and heavily beat forecasted…
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Extended pullback pressures the top of thick daily cloud
The Australian dollar dipped below 0.7800 handle on Wednesday after weaker than expected China bank loans data, with increased pressure coming from falling Asian equities.
Fresh weakness signals an extension of pullback from 0.7890 (May 10…
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UK economy grew more than expected in March
Britain's economy grew more than expected in March, signaling that economic recovery from strong contraction in 2020 caused by coronavirus pandemic, is accelerating and on course for projected sharp bounce-back this year.
Britain’s gross…
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