Turkish lira remains under strong pressure and eyes $7 level and record low of 2018
The Turkish lira extends steep fall against dollar which has strongly accelerated in past three month.
The currency holds in red for the sixth straight day and eyes psychological 7.00 level.
Bears are likely to clear this barrier easily…
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Further weakness seen on close below key Fibo support as bull-trap weighs
The Euro holds in red for the third consecutive day and probes again below cracked strong Fibo support at 1.0831 (61.8% of 1.0635/1.1147) after Thursday’s attack failed to clearly break lower.
Stronger dollar weighs on the single currency,…
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WTI oil eventually breaks critical $20 support zone; no significant obstacles en-route to $10
WTI oil price eventually broke below critical $20 support zone and dipped to new lowest since Oct 2001 at $18.02 in European trading on Friday.
Weak China’s GDP data, released overnight, signaled that the economy of the world’s second…
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Bulls are on hold for consolidation / correction before resuming
Spot gold eased after dismal US jobless claims lifted dollar, showing further hesitation after strong rally in past few days hit the highest in nearly eighteen years and Wednesday’s trading ended in red.
It seems that bulls are pausing on…
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Breaking: US jobless claims rose 5.24 million
US weekly jobless claims 5.24 million last week, above 5.1 million forecast and remaining near record high posted in past two weeks.
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Risk of deeper pullback on break of 10DMA
Cable remains in red on Thursday following repeated upside rejection and formation of bearish engulfing on Wednesday that generated initial reversal signal after larger recovery was capped by 200DMA.
Daily chart momentum is about to…
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Euro extends pullback after bulls were trapped above 55DMA
The Euro extends weakness into second day, pressured by renewed risk aversion that inflated dollar.
Fresh bears were boosted by formation of bull-trap above 55DMA as recovery was repeatedly rejected and failed to clearly break higher.…
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Dow slumps on downbeat US data, earnings reports
The Dow Jones fell about 500 pips since opening of US session and registered losses of 900 points since Asian session start.
The index was hit by downbeat US retail sales data which showed record monthly in March, with more bad news to…
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Breaking: US weekly crude oil inventories rose by record 19.2 million barrels
US weekly crude inventories showed another record build last week as demand destruction from coronavirus pandemic continued
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Loonie falls to one week low on Canada’s economy record contraction; BOC kept rates unchanged
Canadian dollar accelerated lower before Bank of Canada rate decision and fell to one-week low against dollar.
The central bank left interest rates unchanged at record low (0.25%) with loonie being strongly hurt by reports showing that…
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