Fed remains on track for September rate cut – FOMC minutes
The Federal Reserve is strongly signaling a likely interest rate cut in September, as revealed in the minutes from the July 30-31 Federal Open Market Committee (FOMC) meeting.
Although the Fed maintained its benchmark interest rate in the…
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EURUSD – bulls are taking a breather under new 2024 high, eye fresh signals from Fed
EURUSD reduced speed after steep rally in past three days which hit new 2024 top (1.1132) just ticks ahead of Dec 2023 top (1.1139).
The single currency continues to benefit from risk appetite and weak dollar on Fed rate cut…
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WTI oil price is entering corrective phase after a sharp fall
Bears are taking a breather after the latest bearish acceleration in past three days (oil price was down 5%) deflated by easing tensions in the Middle East and rise in US crude stocks (API report).
Oversold daily studies and…
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Gold price is consolidating under new record high, ahead FOMC minutes
Gold keeps firm tone and consolidating under new record high ($2531) posted on Tuesday, with third consecutive daily close above $2500 level, pointing to clear break.
The yellow metal holds in a steep multi-month uptrend and…
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USD Index hits new multi-month low, all eyes on FOMC minutes and Fed Chair Powell’s speech
The dollar index fell to new multi-month low on Tuesday, moving in a steep bear-leg which extends into third consecutive day.
Near-term sentiment remains negative on renewed risk appetite, while markets fully price in 25 basis points…
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Cable rises above 1.30 for the first time since mid-July
Cable broke above psychological 1.30 level on Tuesday (last probe above this barrier was on July 17/18).
Rally from 1.2664 (Aug 8 low, where rising daily cloud contained previous downtrend and reversed direction) is steep and…
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EURUSD -bulls hold grip for further gains, shallow correction likely to precede fresh push higher
EURUSD ticked to new 2024 high (1.1088) on Tuesday, but bulls show signs of fatigue after strong rally in past two days.
Fundamentals remain supportive as Eurozone trade surplus strongly widened in June and inflation remained elevated in…
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China leaves key lending benchmarks unchanged in line with expectations
China's decision to keep its benchmark lending rates unchanged in August aligns with market expectations, reflecting the challenges facing the country's banking sector. The one-year Loan Prime Rate (LPR) remains at 3.35%, and the five-year…
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AUDUSD continues to trend higher ahead of FOMC minutes, Powell’s speech in Jackson Hole
AUDUSD rose to the highest levels in almost one month on Monday, in extension of almost 0.9% daily advance on Friday and 1.5% gains last week
The pair enters the third consecutive week of strong gains, with the latest acceleration being…
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Japanese yen regains traction vs dollar on renewed expectations for dovish Fed
USDJPY dips further on Monday, adding to signals that corrective phase off 141.68 (Aug 5 spike low) is likely over.
Upleg from 141.68 was repeatedly capped at pivotal Fibo barrier at 149.36 (38.2% retracement of 161.80/141.68) with…
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