Cable extends pullback after bulls stalled at 200DMA; fresh strength of dollar contributes
Cable dipped nearly 200 pips on Wednesday after week-long advance stalled at 200DMA barrier (1.2648) on Tuesday.
Pullback accelerated on profit-taking and fresh strength of dollar on renewed safe-haven demand as US equities fell on…
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Breaking: US Industrial Production falls 5.4% in March
US Industrial Production fell 5.4% in March from 0.5% rise in February and below forecasted 4% drop
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Breaking: US retail sales fell by 8.7% in March
US retail sales slumped by 8.7% in March, beating forecast at 8% and vs -0.4% in February
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WTI oil probes again below critical $20 support on gloomy outlook due to strong fall in demand
WTI oil price extends steep descend into fourth day and probes again below critical $20 support zone on Wednesday.
Fresh weakness cracked previous low at $19.24 (30 Mar) and hit new lowest in over 18 years ($19.17 so far).
As mentioned in…
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Bears consolidate above key supports ahead of US data
The pair bounces from 107 support zone which was cracked on Tue/Wed but without clear break so far.
Bears face headwinds from supports at 107.00 (psychological) 106.91 (1 Apr low) and 106.70 (daily cloud top) with profit-taking after…
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Breaking: WTI oil price hits new multi-year low on renewed probe below critical $20 support zone
WTI oil price slumped below $20 level on prediction by International Energy Agency's estimations that global oil demand could drop by a record 9.3 million barrels per day in 2020.
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Close above 55DMA and bullish engulfing to generate positive signal
The Euro advanced on Tuesday, driven by fresh risk mode and offset negative signal from Monday’s close in red.
Bullish engulfing is forming on daily chart and supporting the action which is on track to generate bullish signal on close…
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Gold advanced 6% in three days, proving its strong safe-haven appeal
Spot gold advanced to new highest level since November 2012 on Tuesday, gaining 1.7% since opening that adds to 4.2% rally in past two days.
Strong concerns over expected slowdown of global economic growth on pandemic lockdown and stimulus…
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Breaking: JP Morgan earnings fall 69% in the first quarter
JP Morgan Q1 profits plunged as the bank was forced to boost reserves against possible bad loans arising from coronavirus pandemic.
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Oil hits new low as demand fears offset positive impact from supply cuts
WTI oil price pared brief overnight’s gains and fell to new two-week low at $21.66 in European trading on Tuesday, extending weakness into third straight day.
Sentiment remains weak as traders strongly fear significant drop in…
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