Expectations for the US Non Farm Payrolls – key economic event today
The upcoming release of June labor market data by the US Bureau of Labor Statistics will be closely scrutinized for indications of the Federal Reserve's future policy moves, especially concerning the timing of its first interest-rate cut…
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Gold price remains at the front foot ahead of US NFP report
Gold price rose further on Friday morning and pressuring important technical barriers ahead of release of key US NFP report.
The metal rose around 1.7% for the week so far, benefiting from weaker dollar on soft US macroeconomic data,…
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EURSD remains constructive but formation of bull-trap warns
EURUSD remains at the front foot in early Thursday’s trading and holding under new three-week high (Wednesday’s spike at 1.0816).
Bulls probe again through cracked daily Kijun-sen (1.0791) and look for retest of daily cloud top (1.0808).…
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Dollar extends weakness after downbeat ADP data, US services PMI and NFP eyed for more signals
The dollar index fell to one week low on Thursday, extending weakness into second consecutive day, after being pressured by dovish comments from Fed Chair Powell, while weaker than expected ADP private sector payrolls report further soured…
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GBPUSD lifted further by better than expected UK PMI data
Cable advances for the second consecutive day, underpinned by better than expected UK services PMI (dominant sector of the economy) released earlier today.
Fresh bulls cracked psychological 1.2700 barrier and nearby pivotal Fibo…
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EURUSD – bulls regain control and look for retest of key barriers
EURUSD regained traction on Wednesday after moving within wide swings but without direction in past two days.
Fresh strength looks for retest of pivotal barriers at 1.0768/71 (55DMA / daily cloud base), which capped Monday’s attack.…
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Gold price rises ahead of key economic data but still holding within broader range
Gold price rose during early trading on Wednesday, after being stuck within a narrow congestion in past three days.
Fresh strength hit the highest in almost two weeks, though the wider picture shows the price moving within larger range…
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Fed needs more evidence of falling inflation before start cutting rates – Powell
The US central bank still needs more data before cutting interest rates to ensure that recent weaker inflation readings give a true picture of what is happening to underlying price pressures, Federal Reserve Chair Jerome Powell said on…
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WTI oil price rises above $84 for the first time in over two months
WTI oil price rose to nine-week high on Tuesday, in extension of strong Monday’s strong rally (up almost 2.5% for the day).
Increased demand due to summer driving season and persisting supply fears on heated geopolitical situation…
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Eurozone inflation eases slightly in June
Eurozone inflation slowed slightly to 2.5% in June from the previous month's 2.6%, aligning with expectations. However, core inflation remained unchanged at 2.9%, slightly above the 2.8% consensus forecast.
This persistence in core…
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