Dollar extends weakness, on track for second consecutive week in red
The dollar fell to 2 ½ week low on Friday, being in red for the third straight day and on track for a second consecutive week of losses.
Renewed risk sentiment on rising bets for Biden’s victory in presidential election and expectations…
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Growth of UK economy much slower than expected during August
The UK’s economy – which contracted more than that of any other G7 nation during the April-June period – remained 9.2% smaller than its pre-pandemic level in August.
Data released today shows that the economy, which is attempting to…
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High weekly US jobless claims continue to frustrate
The number of Americans filling claims for unemployment benefits totalled 840K for the week ended October 3 – slightly lower than the upwardly revised figure of 849K last week, but still higher than the forecast of 820K.
Continuing…
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Near-term action to remain directionless while holding between 10 and 55DMA’s
The Euro remains constructive on Thursday, inflated by weaker dollar on fresh risk sentiment, but lacking strength for stronger advance and renewed attack at pivotal barriers at 1.1794/1.1807 (55DMA / Tuesday’s high).
Daily techs are…
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Renewed US stimulus hopes improve risk mode
Fresh hopes for further US stimulus restored investor confidence and boosted risk sentiment on Thursday, lifting stocks and riskier currencies and sending the dollar lower.
Talk of fiscal aid has resurfaced, but markets are getting…
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Pound extends pullback on risk aversion and EU-UK fishing problem
Cable extends weakness on Wednesday, following 0.7% drop previous day, after President Trump deflated risk mode by calling off stimulus talks.
The pound came under fresh pressure today after Ireland highlighted EU-UK fishing problem, the…
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Turkish lira hits new record low on rising geopolitical tensions
The Turkish lira fell to new all-time low vs dollar on Wednesday, on fresh pressure over rising tensions in Caucasus and possible US sanctions on Turkey.
Lira weakened rapidly this year (down 24% so far) as Covid-19 pandemic hit the…
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Euro bounces after drop on risk aversion but the downside remains vulnerable
The Euro regained traction in early European trading on Wednesday, following late Tuesday’s 0.4% drop on risk aversion after President Trump called off stimulus talks.
Tuesday’s close in red and failure to clear converged 30/55DMA’s…
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