Recovery accelerates but bears to remain alive while key barriers at 1.1706/21 cap
The Euro jumps in early Tuesday after bears faced strong headwinds from key 1.1600 support zone (25 Sep low / 50% retracement of 1.1168/1.2011) and Monday’s action ended in daily Doji candle.
Fresh rally accelerates on profit-taking from…
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Australia’s central bank trims interest rates near zero and boosts bond-buying plan
The Reserve Bank of Australia - as widely expected - lowered its key interest rate to 0.10% from 0.25% and announced it would buy government bonds worth A$100 billion over next six months.
The central bank desires to drag the economy out…
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Manufacturing growth rose above expectations in Germany and EU in October
Eurozone Manufacturing Purchasing Manager’s Index rose to 54.8 in October, the highest since August 2018, from 54.4 in September and above forecasted 54.4.
The recovery was mainly driven by strong German data (Manufacturing PMI 58.2 in…
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Bears hesitate at key 0.70 zone ahead of expected dovish RBA
The Australian dollar edged higher in Europe on Monday after overnight’s action cracked psychological 0.70 support and hit the lowest since 20 July at 0.6991.
Aussie was down 1.5% last week, driven by global risk aversion on new lockdowns…
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Bears risk fresh acceleration on break of 1.1612 pivot
The Euro remains in red for the sixth straight day and extends steep fall to the lowest in over one month in early Monday’s trading.
The pair fell near 1.8% last week, driven by strong risk aversion and registered the monthly…
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Oil prices fell over 3% overnight on fresh lockdowns
Oil opened with gap-lower on Monday and fell over 3% in Asia, as fears that fresh lockdowns across the Europe will further weaken fuel demand.
Traders fears that lockdown measures announced by a number of European countries would…
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German economy registers record growth in third quarter
The German economy expanded by a record 8.2% in the third quarter, beating previous forecasts of a 7.3% growth.
The jump in output signals that Europe’s largest economy is on the recovery path after an unprecedented drop of 9.8% in…
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Bears take a breather after heavy losses, key support at 1.1612 remains in focus
The Euro is consolidating in early Friday’s trading, following 0.6% drop on Thursday (the biggest one-day drop since 19 Aug), as this week’s steep fall broke very important supports, registering weekly drop of 1.5% so far.
Thursday’s close…
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