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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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…
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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…
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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…
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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…
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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…
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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…
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