Bears probe through key med-term supports and could accelerate on clear break
Bears extend lower on Tuesday, adding to Monday’s 1.40% fall and hit new lowest levels since mid-May 2020.
Probe through key supports at 0.8865/60 zone (Aug/Nov higher base) generate strong bearish signal which will require confirmation on…
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Recovery faces strong headwinds but remains underpinned by bear-trap
The Euro dips in European session on Wednesday after reversal pattern was formed on daily chart but attempts to extend recovery stalled on approach to pivotal Fibo barrier at 1.2166 (38.2% of 1.2349/1.2053 bear-leg), capped by falling 10DMA…
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UK inflation rises slightly above expectations in December
UK inflation rose 0.6% in December in annual terms compared to 0.3% increase in November and ticked above forecast for 0.5% rise.
Consumer prices were boosted by temporary relax of travel restrictions that pushed up air and sea fares,…
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UK inflation data could provide clearer near-term direction signal
Cable is standing at the front foot on Tuesday, following strong downside rejection previous day and inflated by fresh risk sentiment that weakened dollar.
Larger uptrend remains intact despite double failure at 1.3700 zone, as subsequent…
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Monday’s hammer and bear-trap point to reversal
The Euro rebounds on Tuesday, advancing nearly 0.5% since opening, lifted by revived risk sentiment in the market.
Upbeat German ZEW data added to hopes of faster recovery of Europe’s largest economy and further boosted the single…
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German investor sentiment rises for the third straight month in January
German investor sentiment rose above forecasts in January, as improved expectations for exports brightened the outlook for European Union’s largest economy.
The survey from ZEW economic research institute showed that economic sentiment…
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US must act big on next coronavirus relief package – Janet Yellen
Janet Yellen, former Federal Reserve chair and President Joe Biden’s nominee to run the Treasury Department, will tell Senate Finance Committee on Tuesday that the government must ‘act big’ with the next Covid-19 relief package, with…
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Signs of China’s economic recovery boost risk sentiment and lift stocks
Fresh risk appetite on signs of China’s economic recovery lifted Asian stocks on Tuesday, while European stock markets opened higher.
Investors expect that China’s economic strength would help underpin growth in the region after data on…
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Gold bounces on stimulus hopes but facing strong technical barriers
Spot gold bounced from new 1 ½ month low ($1803) posted in early hours of Monday’s trading as comments from US Treasury nominee Janet Yellen that the US does not seek weaker dollar, slowed greenback’s recovery.
Expectations of new fiscal…
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US dollar extends recovery on risk aversion, traders eye Biden’s FX policy
The US dollar extends recovery from Jan 6 low (the lowest since Apr 2018) and hit five-week high against the basket of major world currencies on Monday.
Fresh risk aversion across currency markets lifts the greenback, with comments from…
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