Oil prices tumble over $3 on growing virus fears
WTI oil price fell over $3 in early Monday’s trading, hitting one-week low, as new fast-spreading coronavirus strain that has shut down Britain and tightened restrictive measure in Europe, revived fears of slowdown in global demand…
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Euro spirals lower as new virus fears sour risk sentiment
Fresh virus fears knocked risk sentiment and sent Euro sharply lower on Monday.
Pullback from new 2 ½ year high (1.2272) so far retraced nearly 61.8% of 1.2058/1.2272 upleg and broke strong support at 1.2158 (10DMA).
Steep fall of 14-d…
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Sterling crashes on new Covid-19 strain panic
British pound opened with 130-pips gap lower vs US dollar and collapsed 250 pips in early Monday’s trading, in a panic reaction on fears about a new strain of coronavirus.
The UK was on Monday shut off from much of Europe, as well as…
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US Congress reaches deal on new coronavirus aid package
After months of contentious debate, the US Congress eventually reached agreement on new aid package worth $900 billion, to support an economy and individuals, hit by surging Covid-19 pandemic.
The second-largest economic stimulus in US…
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Crude oil is set for seventh straight weekly gain; vaccine hopes, drop in crude stocks underpin
WTI oil is set to resume rally after narrow consolidation just under new multi-month high on Friday and on track for the seventh straight week of gains.
Strong bullish sentiment is boosted by vaccine hopes as more countries give green…
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Dollar consolidates above new 2 1/2 year low before bears resume
Bears are taking a breather above new 2 ½ year low on Friday, as traders collected some profits on 1% weekly fall.
The dollar index broke through psychological 90 support, generating bearish signal for extension towards key med-term…
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German Business Climate improves in December – Ifo
German business morale rose in December, following decline in past two months, signaling that European Union’s biggest economy regains traction despite new lockdown, imposed to contain a second wave of Covid-19 infections.
The Ifo…
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BOJ keeps monetary policy steady, looks for more effective ways to achieve inflation target
The Bank of Japan, as widely expected, kept policy steady and extended by six months an array of measures aimed to support companies hit by pandemic, on its December’s policy meeting.
Renewed spike in Covid-19 infections signal that…
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US weekly jobless claims rise further
Initial claims for state unemployment benefits unexpectedly rose to 885K in the week ending Dec 12, from upward revised 862K previous week and strongly beating 800K forecast.
Persistent surge in new coronavirus infections and subsequent…
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The Bank of England stays on hold ahead of Brexit finale
The Bank of England kept its benchmark interest rate at historic 0.1% low and kept unchanged its stimulus program at 895 billion pounds, awaiting more signals from Brexit finale.
Brussels and London are putting their last efforts to…
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