GBPJPY accelerates lower after BoJ rate hike
GBPJPY extends steep downtrend by dropping 1.7% on Wednesday and on track for the biggest daily drop since 12 July 2023, after BOJ rate hike further boosted yen, while sterling remains deflated by growing expectations that BoE would deliver…
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EURUSD rises on EU CPI and US labor data, bear-trap forming on daily chart
EURUSD bounced on Wednesday after a triple rejection at 1.0800 support zone (50% retracement of 1.0666/1.0948 rally / daily Kijun-sen) signals formation of a bear-trap.
Fresh gains were sparked by higher than expected EU inflation…
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Eurozone inflation ticks up in July, but ECB likely to remain on policy easing path
Euro zone inflation unexpectedly rose in July, ticking up to 2.6% from 2.5% in June and beating forecast for unchanged rate.
So called core CPI, ECB’s key measure of underlying growth in prices and excludes the most volatile components,…
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USDJPY cracks key 150 support zone on fresh post-BOJ acceleration lower
USDJPY accelerated lower in early European trading on Wednesday, following a mixed immediate reaction on BoJ’s decision to raise interest rate from 0.10% to 0.25% and unveil plan to halve bond buying.
The decision was positive for yen…
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Bank of Japan surprises markets by raising interest rate
The Bank of Japan's unexpected decision to raise interest rates and unveil a plan to slow its massive bond-buying program marks a significant shift in its monetary policy stance. This move has several immediate and longer-term economic and…
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Dollar index jumps on solid US data
The dollar index rose to three-week high on Tuesday, following stronger than expected US JOLTS data and consumer confidence.
Solid numbers add to view that the US economy remains resilient and offered fresh support to dollar.
Bulls…
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AUDUSD holds in extended consolidation above strong supports
AUDUSD remains in extended consolidation around the base of thick daily cloud (0.6538), and above pivotal Fibo support at 0.6528 (61.8% of 0.6362/0.6798), following a steep fall in past nine days.
Bears are taking a breather on stretched…
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EURUSD corrects Monday’s drop, looks for fresh direction signal
EURUSD edges higher on Tuesday morning after strong fall on Monday was contained by solid support at 1.0807 (daily Kijun-sen / 50% retracement of 1.0666/1.0948 rally) and also failed to register a daily close below cracked converged…
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BTCUSD rises to six-week high on improved fundamentals
BTCUSD accelerated higher on Monday (up 2.8% until early US trading) supported by dovish stance of most of major central banks and comments from Republican presidential candidate Donald Trump, who promised friendlier regulation to t5he…
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GBPUSD – bears resume after a brief consolidation
Cable fell further at the beginning of the week, after larger bears paused for consolidation on Friday.
Current bets show 60% chance of BoE rate cut at Thursday’s policy meeting, which continues to weigh on sterling.
Technical picture…
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