US service sector accelerated well above expectations in April – PMI
The data released on Monday showed that growth in US services sector accelerated in April, driven by rise in orders and prices paid by businesses for materials and services, which spiked to the highest in over two years.
The ISM…
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Gold – strong bounce generates initial reversal signal
Gold jumped over 2% on Monday, lifted by weaker dollar and persisting uncertainty over US-China trade conflict that revived safe-haven demand.
Strong bounce followed repeated failure to register clear break of strong support at $3228…
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Oil prices tumble on Monday as OPEC+ increases production again
WTI oil opened with $2 gap lower on Monday and hit the lowest since Apr 9, after OPEC+ over the weekend announced decision to further increase oil production by 411K bpd from June.
This marks the third consecutive output increase which…
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US nonfarm payrolls were marginally lower in April but above consensus
US nonfarm payrolls increased by 177K jobs in April, compared to a downwardly revised 185K in March (from initial 228K), and beat forecast for increase by 138K.
April data showed a marginal slowdown in the US labor sector last month,…
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Eurozone inflation rises above expectations in April but ECB likely to remain on track for rate cut…
Inflation in the Eurozone was unchanged at 2.2% in April, but above expectations for 2.1% rise.
Closely watched Core inflation, which excludes the most volatile food and energy components, rose to 2.7% last month from 2.4% in March and…
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Gold – loss of pivotal $3300 support zone generates reversal signal
Gold dropped 1.6% in holiday-thinned Asian trading on Thursday, hitting the lowest in two weeks, as fresh risk appetite on fading trade tensions further dented metal’s safe-haven appeal.
Loss of pivotal $3300 support zone has generated…
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Dollar index is on track for the biggest monthly loss since November 2022
The dollar index remains constructive and edged higher on Wednesday after data showed that US economy slipped in the first quarter against consensus for a small rise, though it showed better results from expectations of some big US banks.…
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Gold probes again through key supports as trade tensions ease
Gold price holds in red for the second consecutive day and probes again through key $3300/$3292 zone (psychological / Fibo 38.2% of $2956/$3500 rally), where several recent attacks failed.
The risk sentiment has weakened again on growing…
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WTI Oil price falls further as sentiment sours on fading trade talks
WTI oil holds in red for the second consecutive and fell further on Tuesday as signals stalling US / China trade talks soured the sentiment.
Traders sold oil contracts on growing uncertainty after initial optimism was replaced by fears…
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USDJPY – repeated upside rejections keep the downside at risk
USDJPY edged higher on Tuesday morning after 1.1% drop on Monday which added pressure on the pair, following repeated upside rejection under double Fibo barriers at 144.13/21 (broken 76.4% of 139.57/158.87 / 38.2% of 151.20/139.88).…
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