Near-term bias remains negative below broken neckline
The Euro weakened on Monday, remaining at the back foot, despite strong rally on Friday (up 0.89% for the day) that formed bullish engulfing pattern on daily chart.
The action stays for the fourth straight day below the neckline of the…
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German industrial sector stagnated in December due to new lockdowns but avoided contraction
The activity in Germany’s industrial sector stagnated in December for the first time after seven months of expansion, but avoided contraction despite lockdowns in many countries, as strong demand from China helped export-oriented German…
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US employment growth rebounds below expectations in January
US non-farm payrolls increased by 49,000 in January, after December’s drop of 227,000, the first negative figure in eight months was downwardly revised from initial 140,000, following renewed restrictions
US employment growth rebounded…
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Improved sentiment lifts oil price to one-year high
WTI oil cracked $57 barrier and hit new one-year high on Friday, lifted by hopes that economic recovery will accelerate and boost demand, while OPEC and its allies are expected to maintain supply curbs.
Oil price rallies for the fifth…
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Technical studies point to further weakness but US jobs data likely to be the key driver
Bears are taking a breather following sharp acceleration lower on Thursday (down 0.62% for the day), after finding temporary footstep at key 1.1965 support (daily cloud base / 100DMA).
Strong bearish setup was confirmed by completion of…
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Gold is consolidating after 2.2% fall; NFP in focus for fresh signals
Spot gold is consolidating above new two-month low ($1785) posted on Thursday after 2.2% daily drop (the biggest one-day loss since Jan 8) which broke and closed below psychological $1800 level.
The yellow metal came under increased…
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Near-term focus shifts higher on post-BoE rally
Cable is stabilizing under session high (1.3697), hit after sharp acceleration higher on BoE’s decision to stay on hold and sideline bets on negative interest rates for coming months.
Relief rally of approx. 1.5 cent significantly reduced…
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US jobless claims decline for the third straight week, signaling stabilization in labor market
US initial claims for state unemployment benefits fell to seasonally adjusted 779,000 for the week ended January 30, from previous week’s downwardly revised 812,000 and beat forecast for 830,000 increase.
The third straight weekly…
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Bank of England keeps rates and stimulus programme on hold, scales back bets on sub-zero rates
The Bank of England kept interest rate and stimulus unchanged on today’s policy meeting, on hopes that economic recovery will pick up this year and said that preparation for any rate cut below zero needs at least six month.
The central…
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Eurozone retail sales rose above expectations in December
Eurozone retail sales rose 2% in December, beating forecast for 1.6% increase after dropping by 5.7% previous month.
Rebound above expectations was fueled by a Christmas shopping, particularly a surge in sales of clothes and shoes.…
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