Bulls are on hold for consolidation / correction before resuming
Spot gold eased after dismal US jobless claims lifted dollar, showing further hesitation after strong rally in past few days hit the highest in nearly eighteen years and Wednesday’s trading ended in red.
It seems that bulls are pausing on…
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Breaking: US jobless claims rose 5.24 million
US weekly jobless claims 5.24 million last week, above 5.1 million forecast and remaining near record high posted in past two weeks.
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Risk of deeper pullback on break of 10DMA
Cable remains in red on Thursday following repeated upside rejection and formation of bearish engulfing on Wednesday that generated initial reversal signal after larger recovery was capped by 200DMA.
Daily chart momentum is about to…
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Euro extends pullback after bulls were trapped above 55DMA
The Euro extends weakness into second day, pressured by renewed risk aversion that inflated dollar.
Fresh bears were boosted by formation of bull-trap above 55DMA as recovery was repeatedly rejected and failed to clearly break higher.…
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Dow slumps on downbeat US data, earnings reports
The Dow Jones fell about 500 pips since opening of US session and registered losses of 900 points since Asian session start.
The index was hit by downbeat US retail sales data which showed record monthly in March, with more bad news to…
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Breaking: US weekly crude oil inventories rose by record 19.2 million barrels
US weekly crude inventories showed another record build last week as demand destruction from coronavirus pandemic continued
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Loonie falls to one week low on Canada’s economy record contraction; BOC kept rates unchanged
Canadian dollar accelerated lower before Bank of Canada rate decision and fell to one-week low against dollar.
The central bank left interest rates unchanged at record low (0.25%) with loonie being strongly hurt by reports showing that…
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Cable extends pullback after bulls stalled at 200DMA; fresh strength of dollar contributes
Cable dipped nearly 200 pips on Wednesday after week-long advance stalled at 200DMA barrier (1.2648) on Tuesday.
Pullback accelerated on profit-taking and fresh strength of dollar on renewed safe-haven demand as US equities fell on…
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Breaking: US Industrial Production falls 5.4% in March
US Industrial Production fell 5.4% in March from 0.5% rise in February and below forecasted 4% drop
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Breaking: US retail sales fell by 8.7% in March
US retail sales slumped by 8.7% in March, beating forecast at 8% and vs -0.4% in February
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