GOLD – bulls return to play, US jobs data eyed for near-term direction
Gold shined on Thursday, advancing around 0.85% and reversing the largest part of corrective pullback from new all-time high ($2531) which found a solid ground at strong $2470 support zone, where a higher base is forming.
The yellow…
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USDJPY falls to one month low as sentiment sours further ahead of key economic event of the week…
USDJPY continues to trend lower and hit new one-month low on Thursday, pressured by expectations of Fed rate cut, diverging policies of Fed and BoJ (US central bank is heading towards its first rate cut, while BoJ started its tightening…
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US job openings unexpectedly fall in July – JOLTS
The latest data on US job openings indicates a significant slowdown in the labor market, with openings dropping to 7.673 million in July, marking the lowest level in three and a half years.
This decline, coupled with a downward revision of…
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Gold – deeper correction or positioning for fresh push higher; US labor report eyed for more…
Gold price eased further on Wednesday, after loss of psychological $2500 support generated initial signal of potential deeper pullback.
Extension below 20DMA (2489) dented pivotal Fibo support at $2473 (38.2% of $2379/$2531 upleg) adding…
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WTI oil price falls below $70 and hits new 2024 low
Oil prices remain firmly in red and dipped below psychological $70 level in early Wednesday, in extension of Tuesday’s 5% fall.
WTI contract price hit ne 2024 low, driven by growing concerns about global oil demand (boosted by Tuesday’s…
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US manufacturing sector performed better in August, but overall picture remains weak
The US manufacturing sector showed a slight improvement in August, with the Institute for Supply Management (ISM) manufacturing PMI rising to 47.2, up from an eight-month low of 46.8 in July.
However, the PMI remains below the crucial 50…
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Australian dollar falls on weak economic data
AUDUSD fell to one-week low on Tuesday, falling 1% until early US session, deflated by fall in iron ore and unexpected widening of Australia’s current account gap, while US manufacturing sector performed in August slightly better than…
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Dollar Index – bulls lose traction but hold grip, as markets await release of US labor data
The dollar index eases from new two-week high on Monday, after strong three-day recovery rally showed initial signs of fatigue.
Repeated rejection at 101.72 barrier (50% retracement of 103.06/100.38 bear-leg / 4-hr cloud top) and…
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GBPJPY – probe above pivotal 200DMA is generating initial signal of bullish continuation
GBPJPY rose to one-month high on Monday and generated initial signal of bullish continuation on probe above the top of month-long range (192.16) reinforced by 200DMA.
Firm break here to confirm signal and open way for fresh upside, with…
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Oil prices remain under pressure on demand concerns, OPEC production increase
Oil price fell further in early Monday, in extension of Friday’s 3% drop (the biggest daily loss since Aug 14).
The sentiment weakened further on renewed concerns about demand from the US and China, partial reopening of Libya’s oil…
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