Bulls approach key barrier as strong risk sentiment ignores negative news
The Australian dollar probes above psychological 0.70 barrier for the first time since early June and hits one-month high at 0.7037 vs its US counterpart.
Growing hopes on Covid-19 vaccine boost strongly risk sentiment, offsetting negative…
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Oil dips after OPEC signaled easing in production curb; EIA crude stocks report in focus
WTI oil price fell nearly $1 but remains above $40 level after OPEC+ announced that the group of top oil producers will ease record supply cut from August, as global economy recovers.
The group is set to reduce output cut from 9.7 million…
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Another bull-trap sparks fresh acceleration lower
The pair accelerates lower on Wednesday, as Tuesday’s Doji signaled recovery stall and bulls got trapped again on probe above falling 10DMA.
Fresh weakness pressure cracked pivotal support at 106.87 (Fibo 61.8% of 106.07/108.16), with…
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Dollar falls to one-month low on rising risk appetite
The dollar fell to one-month low against the basket of major counterparts on Wednesday, as signs of progress in production of Covid-19 vaccine and rally in US equities, strongly boost risk sentiment.
Bears broke through the last obstacle…
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Break of 1.1422 barrier exposes 2020 high; potential dips to offer opportunity for re-entering…
The Euro cracked June high (1.1422) and hit new four-month high in early Wednesday’s trading.
Hopes that EU leaders will agree on recovery plan in the summit (17/18 July) and SNB’s intervention this week, inflate the single currency.…
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Concerns of slowdown in global demand recovery pressure oil price
WTI oil remains at the back foot on Tuesday and establishes below $40 level, as sentiment weakened on news of new restrictions in California due to increased number of infections.
Rising concerns that this would have stronger…
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