Dollar index extends weakness as better than feared US data boost risk appetite
The dollar index extends weakness to new two-month low on Thursday as markets hold in risk-on mode as less bad than feared US jobless claims and durable goods data partially offset negative impact from GDP data which showed that suggest…
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Oil remains in defensive after 5.7% drop on surprise crude stockpiles build
WTI oil consolidating on Thursday after falling 5.7% previous day (the biggest one-day drop since 27 Mar).
Oil price was hit by unexpected and strong build in US crude stockpiles (API report on Wednesday showed 8.7 million barrels rise…
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Optimistic fundamentals prevent deeper pullback for now
The Aussie remains bid ion Thursday despite double failure at 200DMA (0.6657), underpinned by fresh optimism that economic downturn over pandemic lockdown may be less severe than feared.
This so far fades negative signals on…
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Sterling remains pressured by Brexit trade talks uncertainty and risk of negative rates
Cable remains in defensive mode in early Thursday, following previous day’s fall that retraced the largest part of Tuesday’s strong rally.
Today’s action is holding within narrow range and in thin daily cloud, but pressures cloud base…
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Bulls continue to face strong headwinds at 200DMA
The Euro is holding within 1.10 zone in European session on Thursday after hitting new, marginally higher high (1.1035) in nearly two months.
Bulls failed to close above 200DMA (1.1009) on Wednesday, despite spike to 1.1030, signaling that…
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Lira on track for the biggest daily fall after three-week rally
The USDTRY rises on Wednesday as pullback from new record high showed initial signs of losing traction after three-weeks of uninterrupted steady descend.
The pair is on track for the biggest one-day gains since hitting all-time high on 7…
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Bull-trap formation threatens of deeper fall
Cable fell some hundred pips on Wednesday as traders booked profits from Tuesday’s 1.2% rally, weakening near-term structure and shifting focus lower.
Bull-trap pattern is forming on daily chart following unsuccessful attempts to clearly…
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Euro probes again above key 1.10 resistance zone
The Euro probes through key barriers at 1.10 zone on Wednesday additionally boosted by proposal of the European commission for rescue package worth 750 billion euros.
The pair extends Tuesday’s advance (up 0.8% for the day), also driven by…
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