Bulls continue to face strong headwinds but remain in play for now
Cable edged lower in European trading on Friday but remains resilient as less steep than expected fall in UK GDP partially compensates negative impact from lockdowns on raging coronavirus and Brexit.
Bulls probed again through 1.37 and…
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Bears pressure key support and look for strong signal on close below weekly cloud base
Bears are taking a breather above new multi-week low at 0.8865 (the lowest since Nov 11) following a steep fall in past six days.
The Euro lost traction and was additionally pressured by political crisis in Italy, while sterling remains at…
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UK economy contracts in November for the first time since April, heads for double-dip recession
Britain’s Gross Domestic Product fell by 2.6% in November, from a month earlier, a period when the government launched the second national lockdown to slow the spread of coronavirus.
The contraction was much lower than the average…
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Fresh weakness focuses key Fibo support at 1.2064
Bears regained control, pushing the Euro to new one-month low (1.2110), signaling bearish continuation after pullback from 2021 high (1.2349) was congested in past three days.
Fresh weakness cracked lower 20-d Bollinger band (1.2117) and…
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US weekly jobless claims rose more than expected
US weekly jobless claims increased above expectations last week, signaling a weakening in labor sector, as deteriorating situation with new wave of Covid-19 infections disrupted the number of businesses.
The number of initial…
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Bulls continue to pressure 2021 high but negative fundamentals produce strong headwinds
Cable remains constructive and holding near new 2021 high on Thursday, after the action on Wednesday stalled on approach to key barrier at 1.3703.
Daily moving averages remain in bullish setup but loss of positive momentum and stochastic…
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German economy contracted 5% in 2020 due to coronavirus pandemic
The German economy shrank 5% in 2020, compared to 5.1% forecast and less severe than the record contraction of 5.7% in 2009 during the global financial crisis, as strong state response helped to limit the devastation caused by coronavirus…
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China’s exports grew above expectations in December
China’s exports grew more than expected in December, as coronavirus disruptions around the world fueled demand for Chinese goods, even as a stronger yuan increased. transportation costs for overseas buyers.
Exports rose 18.1% in…
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US House of Representatives impeaches President Trump for a second time
The US Democratic-controlled House of Representatives voted 232-197 to impeach President Donald Trump, following violent protests of his supporters and attack on the Capitol last week.
Trump became the first president in US history to be…
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Fed Rosengren expect economic recovery to accelerate in the second half of the year
Boston Federal Reserve Bank President Eric Rosengren said he expects the US economy to strongly rebound in the second half of 2021, as vaccinations become widely available, although the pandemic is likely to continue to be a problem for the…
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