Eurozone industrial production rises above expectations
Industrial production in the 19 countries sharing the Euro rose 2.5% in November, from 2.3% increase in October and heavily beat forecast for 0.2% rise, boosted by sharp rebound of intermediate and capital goods.
The better-than-expected…
Read More...
Read More...
Near-term action remains congested but biased higher while above 1.2173 Fibo support
The Euro stands at the back foot in European trading on Wednesday after attempts to extends Tuesday’s bounce were capped by 20DMA (1.2225) which keeps the upside protected for the third straight day.
Fresh weakness was so far limited by…
Read More...
Read More...
Oil prices rose further on bigger than expected inventory draw
WTI oil rose further and hit new highest level ($53.90) since mid-February in late Asian trading on Wednesday.
Positive sentiment persists despite the latest developments in the US and Europe where lockdowns were imposed on rising new…
Read More...
Read More...
Bulls pressure key 1.37 barrier but risk of stall exists
Cable keeps firm bullish tone in early Wednesday’s trading and extends strong rally from the previous day (the pair was up 1.04% for the day in the biggest one-day rally since Nov 5), pressuring key barriers at 1.3700 zone (new multi-month…
Read More...
Read More...
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...