Fresh risk mode boosts pound but terrible UK GDP may limit recovery
Cable regains traction on Friday and recovers after strong fall on Thursday and today’s extension that was contained just above strong supports provided by 100DMA and Fibo 38.2% of 1.2074/1.2813 (1.2537/30).
Fresh risk mode that lifts US…
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Steep fall extends on rising safe-haven demand
The cross holds firmly in red for the fourth day and is down 2.8% from Monday’s opening until now and is on track for the biggest weekly fall since last week of February.
Fresh exodus into safe havens was boosted by Fed’s outlook which…
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Oil extends pullback, pressured by rise in crude stocks and Fed’s pessimistic outlook
WTI oil stands at the back foot on Thursday and is trading around $2.5 lower in early US session compared to opening levels.
Fresh weakness threatens to break below three-day congestion under psychological $40 barrier, after initial attack…
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Bulls are taking a breather on fading risk mode
GBPUSD
Cable eases from new three-month high (1.2819 on Thursday on softened risk mode after Fed signaled bleak outlook for the US economy in post-pandemic recovery.
Double Doji on Tuesday and Wednesday with the latter having long upper…
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Gold eases after 3.2% advance, US jobless claims eyed for fresh signal
Spot gold eased from $1740 high (posted after three-day 3.2% pre-Fed rally) in early Thursday, as traders booked profits.
The yellow metal accelerated higher after Fed presented its economic projections which point to long post-pandemic…
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Bulls focus 2020 high; US jobless claims and Eurogroup meeting could trigger stronger volatility
The Euro is consolidating under new three-month high (1.1422), after Fed’s projections for the long way recovery of the US economy and signal that rates will remain at ultra-low levels for some time, raised traders’ concerns and…
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Another surprise build in crude inventories weigh on oil price after failure at $40 barrier
Unexpected rise in oil inventories by 8.4 million bls (API report on Tuesday) and 5.7 million bls (EIA report released today) weigh on oil prices on Wednesday.
Crude was boosted by decision of OPEC+ group to extend existing 9.7 million bpd…
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The dollar remains under heavy pressure ahead of Fed
The pair extends steep fall into third consecutive day (so far down 2.1% since Monday’s opening) as traders sell dollar ahead of Fed policy decision.
Today’s weakness broke strong supports at 107.52/46 (30DMA / Fibo 61.8% of…
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