Rising oil and stock prices underpin Aussie’s recovery
The Australian dollar extends recovery into second day, signaling formation of higher low at 0.6372, supported by unchanged RBA and risk sentiment on rising stocks and oil prices.
Fresh gains through 0.6438/48 (10DMA / Fibo 38.2% of …
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Better than expected UK PMI data keep pound afloat despite weaker Euro and firm dollar
Cable was dragged by weaker Euro after German court announcement and hit session low at 1.2420, but better than expected UK PMI data (Services Apr 13.4 vs 12.2 f/c / Composite Apr 13.8 vs 12.9 f/c) offset negative impact and inflated pound…
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Euro extends weakness after German court ruling
The Euro fell around hundred pips and hit the lowest since 29 Apr after German top court ruled the Bundesbank must stop buying government bonds under the ECB’s stimulus program, unless the central bank can prove the purchases are needed.…
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Copper price fell to nearly two-week low on renewed concerns about weaker demand
Copper price fell further on Monday, extending pullback from last week’s recovery high ($2.3929) into third straight day.
Future contract for July’s delivery fell to the lowest in nearly two weeks ($2.2828) on Monday, but stays for now…
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WTI price remains in green despite trade war escalation threats
WTI oil price jumped towards $20 level in early US trading on Monday after opening lower at the beginning of the day and pulling back around $2 in Asia and Europe.
Last week’s strong recovery is taking a breather after bulls failed to…
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Aussie dips to one-week low as US/China tensions sour risk sentiment
The Australian dollar extends weakness into third day and hits one-week low at 0.6372 in early Monday’s trading, as risk sentiment soured on renewed tensions between the US and China.
Fresh bearish extension on Monday was so far contained…
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Euro eases on stronger dollar, profit-taking; bull-trap weighs
The Euro fell in early Monday’s trading as dollar was boosted by renewed concerns over US/China trade conflict which intensified on accusations from top US officials that coronavirus emerged from China’s lab.
Traders also took some profits…
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Close above important Fibo barrier at 117.62 to signal further recovery
EURJPY
The cross holds firm bullish tone on Friday and probes again through important Fibo barrier at 117.62 (38.2% of 121.14/115.44 fall) after Thursday’s 1.2% rally (the biggest one-day advance since 13 Mar), inspired by month-end…
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