Gold continues to move within larger range, eyes US inflation data for fresh signals
Gold remains at the back foot at the start of the week, after Friday’s 0.8% drop and a weekly close below $2500.
The metal’s price was deflated by US labor data on Friday, as employment increased below expectations but unexpected drop in…
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US job growth accelerated in August but missed expectation – NFP
Today’s NFP report, the most significant of few reports from the US labor sector released this week, showed that nonfarm payrolls increased by 142,000 jobs in August, compared to downwardly revised July figure (89K from initial 114K), but…
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German industrial production unexpectedly falls in July, sparks recession fears
German industrial production fell by 2.4% in July, compared to upwardly revised 1.7% increase in June and strongly beat consensus for 0.4% decline, cooling expectations for economic recovery
Data released on Friday dampened hopes for…
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Bitcoin – bears tighten grip, adding to developing reversal signal
BTCUSD is trading near one-month low in early Friday, holding in red for the fourth consecutive day and on track for the second weekly loss.
Initial signals of formation of reversal pattern on larger timeframe (weekly) on a series of…
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GOLD – bulls return to play, US jobs data eyed for near-term direction
Gold shined on Thursday, advancing around 0.85% and reversing the largest part of corrective pullback from new all-time high ($2531) which found a solid ground at strong $2470 support zone, where a higher base is forming.
The yellow…
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USDJPY falls to one month low as sentiment sours further ahead of key economic event of the week…
USDJPY continues to trend lower and hit new one-month low on Thursday, pressured by expectations of Fed rate cut, diverging policies of Fed and BoJ (US central bank is heading towards its first rate cut, while BoJ started its tightening…
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US job openings unexpectedly fall in July – JOLTS
The latest data on US job openings indicates a significant slowdown in the labor market, with openings dropping to 7.673 million in July, marking the lowest level in three and a half years.
This decline, coupled with a downward revision of…
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Gold – deeper correction or positioning for fresh push higher; US labor report eyed for more…
Gold price eased further on Wednesday, after loss of psychological $2500 support generated initial signal of potential deeper pullback.
Extension below 20DMA (2489) dented pivotal Fibo support at $2473 (38.2% of $2379/$2531 upleg) adding…
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WTI oil price falls below $70 and hits new 2024 low
Oil prices remain firmly in red and dipped below psychological $70 level in early Wednesday, in extension of Tuesday’s 5% fall.
WTI contract price hit ne 2024 low, driven by growing concerns about global oil demand (boosted by Tuesday’s…
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US manufacturing sector performed better in August, but overall picture remains weak
The US manufacturing sector showed a slight improvement in August, with the Institute for Supply Management (ISM) manufacturing PMI rising to 47.2, up from an eight-month low of 46.8 in July.
However, the PMI remains below the crucial 50…
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