It’s a Fed day today
The US Federal Reserve ends its two-day policy meeting today and is expected to issue new economic projections, with Chair Jerome Powell and his team looking for a potential economic boom in a way not seen since early 1970s.
The central…
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Cable falls to one-week low and risks deeper drop on break of pivotal supports
Cable was sold in early Tuesday’s trading and fell to one-week low, confirming negative near-term bias after long tails of candles in past two days suggested that fresh bears from a double rejection at 1.40, face headwinds.
Sterling came…
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Recovery in China’s factory and retail sector accelerated beyond expectations in early 2021
Impressive figures from China’s factory and retail sector signal that the economic recovery moved into a fast track at the first months of 2021 after being paralyzed by coronavirus pandemic in early 2020 and started a gradual recovery…
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Euro remains in red but bears need confirmation on clear break of key Fibo support at 1.1887
The Euro started trading on Monday in a negative mode and extended weakness following a double rejection at pivotal Fibo barrier at 1.1991 (38.2% of 1.2242/1.1835) reinforced nearby psychological 1.20 resistance.
Fresh bears probe again…
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Cable dips after repeated rejection at psychological 1.40 barrier
Cable fell one full figure in European trading on Friday, following repeated rejection at psychological 1.40 barrier, deflated by stronger dollar on rise of US yields, with UK economy’s contraction in January (although less then expected)…
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Britain’s economy shrank less than feared in January
Britain’s economy contracted by 2.9% in January after 1.2% rise in December, as a new wave of coronavirus pushed the country back into a lockdown that greatly reduced economic activity and the start of the country’s post-Brexit era hit hard…
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Euro eases after ECB as stimulus and solid jobs data lift dollar
The Euro was sold in early Friday’s trading following a double rejection at key resistance zone at 1.1991/1.2000 (Fibo 38.2% of 1.2242/1.1835 bear leg / psychological).
Traders digested ECB’s decision to keep overall policy package…
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US weekly jobless claims fall below expectations and hit four-month low
US initial jobless claims fell by 42,000 from 754,000 previous week to 712,000 in the week ended March 6, falling below forecasted 725,000 and hitting the lowest in four months.
Better than expected figures came as a result of improving…
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ECB keeps overall policy unchanged and remains committed to keep borrowing costs low
The European Central Bank left key rates and Pandemic Emergency Purchase Program (PEPP) unchanged as expected, reaffirming its commitment to keep bloc’s borrowing costs down, but stopped adding firepower to its already aggressive…
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The House passes President Biden’s $1.9 trillion coronavirus relief bill
After nearly two months of negotiations, since President Joe Biden first unveiled his American Rescue Plan, the US House of Representatives finally gave green light to one of the largest economic stimulus measures in American history.…
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