Sharp recovery signals an end of correction, but caution is still required
Cable jumped to 1.36 zone on Tuesday after pullback from new multi-month high at 1.3703 was rejected at 1.3451 on Monday and left hammer candle on daily chart, signaling possible end of corrective phase and reversal.
Drop through ascending…
Read More...
Read More...
Biden announces new pandemic economic relief spending
US President-elect Joe Biden said he will deliver a plan costing trillions of dollars next week as Americans need more economic relief from the Covid-19 pandemic, after data last Friday showed the US economy lost jobs in December for the…
Read More...
Read More...
Value stocks surge on expectations for economic revival
US Democratic party’s recent victory in the Senate and breakthroughs in vaccines against coronavirus late last year, boosted value stocks of banks, energy firms and other economically sensitive companies that took a beat for most of 2020.…
Read More...
Read More...
Oil eases from new multi-month high, pressured by demand recovery fears, stronger dollar
WTI oil fell over $1 on Monday, easing from new multi-month high at $52.74, posted last Friday, after nearly 9% weekly rise (the biggest one-week gain since early May), as bulls faced strong headwinds on approach to pivotal barrier at…
Read More...
Read More...
Eurozone investor morale surges in January on growing vaccine optimism
Growing confidence about successful vaccination strategy to tackle the Covid-19 pandemic strongly boosted investor morale in the euro zone.
Investor morale rose more than expected in January, hitting the highest level in nearly one year,…
Read More...
Read More...
Close below 1.2173 Fibo support to risk deeper fall
The Euro holds firmly in red for the third straight day and dips to the lowest since 21 Dec on Monday, deflated by stronger dollar and fading risk sentiment.
Fresh extension lower broke below 20DMA (1.2218, now reverted to solid…
Read More...
Read More...
Cable dips to 2-week low on fresh coronavirus fears
Cable accelerated lower in European trading on Monday and hit new two-week low, on comments from UK chief medical adviser Whitty, who said that next few weeks of the Covid-19 pandemic will be the worst.
New highly infectious variant of the…
Read More...
Read More...
Dollar rises further on risk aversion but more evidence needed to signal reversal
The dollar started trading on Monday with gap-higher and hit 2 ½ week high against the basket of major currencies, signaling and extension of bounce from new 2021 low (the lowest since Apr 2018), posted last Wednesday.
The greenback rose…
Read More...
Read More...
US economy sheds jobs in December for the first time since April
US nonfarm payrolls plunged in December, falling for the first time in eight months, signaling that the economy, hit by surging coronavirus infections, is losing momentum that could temporarily stall the recovery from the pandemic.
US…
Read More...
Read More...
Extended pullback dips below $1900 ahead of US NFP
Spot gold fell 1.5% on Friday, extending steep fall into third straight day, after bulls stalled at pivotal Fibo resistance at $1956 (61.8% of $2074/$1764 fall).
The price fell below $1900 for the first time in one week, as dollar gained…
Read More...
Read More...