Bulls regain traction after shallow pullback
The Euro rose in Asian session on Wednesday, generating initial signal that shallow three-day pullback from new 2 ½ year high at 1.2177 may be over.
Larger uptrend remains intact, with strong bullish momentum on daily and weekly charts,…
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Sterling remains weighed by Brexit uncertainty
Cable remains at the back foot and probes again below 1.33 handle in US trading on Tuesday, despite initial positive signal from Monday’s downside rejection at 1.3224 and subsequent bounce near 1.3400 zone.
Brexit uncertainty weights on…
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The Eurozone economy posted its record quarterly rise in Q3
The Eurozone economy grew by a record 12.5% in the third quarter, in a swift recovery from 11.8% contraction on coronavirus pandemic in the second quarter.
The figures released on Tuesday showed that economy of the 19-country bloc posted…
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Gold extends advance, inflated by US stimulus hopes
Spot gold hit new two-week high ($1872) on Tuesday, in extension of previous day’s 1.3% advance, the biggest one-day rally since Dec 1.
Fresh hopes on a US fiscal stimulus deal to support the economy hurt by surging coronavirus infections,…
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EURGBP cross surges almost 1% on fresh fears for no-deal Brexit
Strong uptrend extends into third straight week, with today’s rally of almost 1%, being sparked by pessimistic Brexit news that deflated sterling.
Brexit trade negotiations stalled on three key points with both sides keeping their…
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Brexit trade talks remain stalled as the time is running out
Post Brexit talks remain stuck with growing fears of no-deal divorce, as the Britain and the European Union made a last-ditch attempt to bridge significant differences and eventually reach a deal, to avoid a disastrous disorderly Brexit…
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German Industrial Production rises well above expectations, boosted by strong jump in car sales
German industrial production rose well above expectations in October - supported by booming car sales- signaling the export-oriented manufacturing sector in the Europe’s largest economy is on track for solid fourth quarter.
Industrial…
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Fresh pessimism over Brexit trade talks hurts sterling
Cable tumbled in early European trading on Monday (down 1.1% since opening in Asia), as sentiment soured after UK PM Johnson said that UK is ready to pull out of Brexit talks and comment from senior EU official that is impossible to say if…
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Corrective dips into 1.20 support zone to precede fresh advance
Bulls are taking a breather under new 2 ½ year high (1.2177) following last week’s 1.34% advance. Weekly close above key levels at 1.2000/1.2096 (psychological / Fibo 38.2% of 2011/2017 1.4938/1.0340 fall) as well as 1.2100 barrier,…
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US private sector hiring slowed in November
US private payrolls increased well below expectations in November, mainly due to soaring new coronavirus infections and stricter measures which slowed economic activity and reduced hiring.
The ADP report on Wednesday showed US private…
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