Bulls are consolidating under more than five-year high
Spot gold is holding within narrow consolidation under new high at $1393 (the highest in more than five years) in early hours of US session on Thursday, following strong bullish acceleration in late Wed / early Thu trading.
Gold price…
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Dovish Fed and positive expectations from BOE keep strong bullish tone
Cable is holding near one-week high at 1.2725, posted on strong post-Fed bullish acceleration, as weak UK retail sales data (May m/m -0.5% vs -0.1% prev / y/y 2.3% vs 5.1% prev) had mild impact on bulls.
Dovish Fed axed the greenback,…
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Strong bullish signal on break above major resistances
The Euro cracked psychological 1.1300 barrier in extension of strong post-Fed rally on Thursday, which broke through key barriers at 1.1279/84 (daily cloud top / broken bear-trendline / Fibo 61.8% of 1.1347/1.1181 fall).
Euro’s sentiment…
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Breach of key supports after dovish Fed may spark further weakness
The pair hit new low at 107.46 (the lowest since 3 Jan) in early European trading on Thursday, in extension of late Wednesday’s post-Fed bearish acceleration.
The US central bank left interest rates unchanged, as widely expected, but…
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Sterling extends recovery ahead of Fed
Cable accelerated higher in US trading on Wednesday, boosted by profit taking from last week’s fall and solid UK inflation data.
The move can be also seen as positioning ahead of key event today, Fed rate decision, as wide expectations for…
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Loonie rose on upbeat Canada’s CPI data
The pair dipped on Wednesday, extending bearish acceleration from the previous day, after bulls were trapped above daily cloud top.
Upbeat Canada’s inflation data (May CPI y/y 2.4% vs 2.1% f/c; 2.0% prev) showed the highest levels in seven…
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Bulls consolidate ahead of key barriers after 4% advance on Tuesday
WTI oil maintains positive tone on Wednesday, following previous day’s 4% rally sparked by fresh hopes of US/China trade deal.
Positive signal was also boosted by draw in US crude inventories (API report on Tuesday showed draw of 0.8 mln…
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Narrow consolidation below daily cloud awaits Fed’s decision
The Euro is holding within consolidation range just above new two-week low at 1.1181, posted after dovish comments from ECB President Draghi and downbeat German ZEW data.
Tuesday’s close below the base of thick daily cloud was negative…
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UK inflation below 2% could further depress pound
Cable is trading within narrow range in early European session and awaiting release of UK inflation data which are expected to provide fresh signal.
The pair was so far unable to benefit from Tuesday’s bullish close (the first after five…
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Bearish bias below 10SMA
WTI oil price holds within narrow range on Tuesday and remains below 10SMA, which capped the action in past four days, maintaining bearish near-term bias.
Fundamentals remain unchanged, with rising concerns over global economy slowdown…
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