Pound falls further on BoE, rising safe-haven demand
Pound’s bearish stance firmed after BoE and increased demand for haven yen over rising geopolitical tensions.
The cross accelerated through important supports at 133.62 (converged 30/55DMA’s) and 133.28 (Fibo 61.8% of 129.29/139.73) and…
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Bears pressure again key Fibo support but risk of another rejection here exists
EURUSD
The Euro continued to move lower on Thursday, driven by soured risk sentiment over rising concerns of new coronavirus wave.
Bears attack again key support at 1.1212 (Fibo 38.2% of 1.0870/1.1422 / 17/12 June lows), where two…
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Cable stands at the back foot ahead of BoE
Cable extends weakness for the third straight day and probes through pivotal support at 1.2530 (Fibo 38.2% of 1.2074/1.2813, pressuring 20DMA (1.2503) which previously contained pullback from 1.2813 (10 June high).
Fading bullish momentum…
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Weak jobs data add to negative tone; rising 20DMA is key support
The Australian dollar remains in red on Thursday as lower Asian stocks weighed, and weak Australia’s jobs data added to negative tone.
Unemployment rate jumped to the highest in nearly two decades (7.1%) in May and employment fell for a…
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Oil price remains constructive despite another rise in US crude stocks
WTI oil jumped over half a dollar in immediate reaction on release of US weekly crude inventories data which showed a build of stocks by 1.2 mln bls, which is above forecast for 0.1 mln bls build but well below last week’s 5.7 mln bls rise.…
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