Oil price stabilizes above $40 following Thursday’s wide-range action
WTI OIL
WTI oil price is standing well above $40 mark on Friday morning, following Thursday’s bumpy ride within nearly $2 range.
Oil fell sharply on Thursday, declining daily high at $41.26 to the lowest of the day at $39.66, on growing…
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Sterling remains under pressure on stalled Brexit talks, new restrictive measures
The British pound remains in red on Friday and attempts to extends Thursday’s 0.8% drop.
Risk aversion on rising worries about the slowdown in global economic recovery and stress for the UK economy from the second wave of Covid-19…
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Unexpected rise in jobless claims increases fears of more significant damage to the US labor market
US weekly jobless claims rose unexpectedly last week, heightening fears over the lasting damage of the COVID-19 pandemic to the US labour market.
The number of Americans filling for unemployment benefits jumped to 898K in the week…
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The dollar benefits from fresh risk aversion
Strong risk aversion hit markets on Thursday as fading prospects for economic recovery after European governments tightened restrictions to battle an accelerating second wave of coronavirus, prompted investors into safety.
The dollar was…
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Sharp fall in equities, Brexit and risk of stricter Covid-19 measures deflate pound
Cable was sharply lower in Europe on Thursday (down 0.5% for the session), driven by increased risk aversion that pushed European equities lower and lifted safe-haven dollar.
Fresh weakness returned below 1.30 mark, erasing so far the…
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Weak Chinese inflation data suggests long road to recovery
China’s economy continues to recover from its sharp Coronavirus-driven slowdown in the first quarter, but the process is likely to be a long one.
Data from the National Bureau of Statistics (NBS) showed a faster than expected growth…
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Aussie accelerated sharply lower as RBA’s dovish stance increase expectations for rate cut
The Australian dollar fell to one-week low (down 0.8% since opening on Thursday), depressed by higher US dollar on fresh risk aversion and dovish comments from RBA Governor Lowe, with little positive impact from better than expected…
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Fresh weakness faces strong headwinds at key Fibo support
The Euro bounces after attempts to extend Tuesday’s nearly 0.6% drop, dented Fibo support at 1.1721 (50% retracement of 1.1612/1.1830 upleg) but faced strong headwinds.
Although the most recent bull-trap above Fibo 50% of…
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