Gold advances to two-week high on fresh risk aversion
Spot gold advanced to the highest level in two weeks in early US session trading on Tuesday, driven by fresh safe-haven demand on renewed weakness in the stock markets and rising concerns about coronavirus epidemic negative impact on global…
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Reversal pattern is forming on daily chart
WTI oil dropped on Tuesday on as fears about negative impact from coronavirus on global demand prevailed, despite some signs that the number of new virus infection cases fall.
Traders remain cautious and awaiting fresh news from OPEC+…
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Downbeat German data further soured weak Euro’s sentiment
The Euro hit new marginally lower three-year low after downbeat German ZEW data.
Economic sentiment in Germany weakened significantly in February (8.7 vs 21.5 f/c and 26.7 prev).
ZEW said that significant decline in economic sentiment…
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Pound was slightly higher after mixed UK jobs data
Cable edges higher after release of key event today – UK jobs data, which showed mixed reading.
Average earnings fell below 3.0% in Dec (2.9%, the slowest rise since Aug 2018) vs 3.0% f/c and 3.2% rise in previous three-month period.
On…
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Dovish RBA and fresh risk aversion push Aussie lower
The Australian dollar fell on Tuesday after RBA minutes of the first policy meeting in 2020 showed that RBA reviewed the case of rate cut in February after stayed on hold in January.
Fresh risk aversion amid fall in global stocks also…
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Recovery faces headwinds but improved sentiment encourages for further advance
WTI oil price remains steady and holding near recovery high ($52.52) as bulls pause here, capped for now by falling 20DMA.
Daily studies point to consolidative/corrective action as stochastic is strongly overbought and momentum turns south…
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Limited consolidation is expected to precede fresh bearish extension
The Euro is holding within narrow consolidation above new nearly three-year low (1.0827) in European trading on Monday, but strong bearish pressure remains, following 2.35% fall in past two weeks.
Two consecutive long red weekly candles…
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Slight bullish bias after downbeat Japanese GDP
The pair extends sideways mode into second day, with Monday’s action being slightly bullishly aligned but still holding within Friday’s range.
Downbeat Japanese GDP data (Q4 -1.6% q/q vs -0.9% f/c and 0.1% in Q3) had little impact but…
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Bulls remain in play after last week’s 1.2% advance
Cable is holding well above key 1.30 support in early Monday’s trading and consolidating after last week’s 1.2% advance.
Main boost for pound last week was change of the finance minister in PM Jonson’s cabinet as new finmin Sumak is seen…
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Break below 10DMA would signal end of recovery phase and reversal
The Australian dollar fell in European session on Friday, maintaining negative near-term tone, following repeated recovery rejection at 0.6750 Fibo barrier (23.6% of 0.7032/0.6662, reinforced by falling 20DMA) and Thursday’s close in read…
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