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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Pound extends weakness on Wednesday, weighed by Brexit talks and risk aversion
Cable fell to one-week low in early Wednesday in extension of Tuesday’s 1% drop (the biggest one-day fall since 10Sep).
Fresh risk aversion on pause of new Covid-19 vaccine trial and no signs of progress in talks about US…
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German economic sentiment drops significantly in October
German economic sentiment slumped this month to 56.1, down from 77.4 in September and far below forecasts of 73.0, according to the ZEW.
The German current conditions sub-index came in slightly better than expected at -59.5 (versus a…
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UK unemployment hits three-year high of 4.5%
UK unemployment figures rose to their highest level since June 2017 on Tuesday, according to data from the Office of National Statistics (ONS). The jobless rate rose to 4.5% in the three months up to August, up from the previous figure…
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