Downside risk increases on rate cut expectations / trade conflict
The Australian dollar extends steep fall of this week to new four and a half month low on Friday, weighed by increasing odds for rate cut as early as June and rising fears of escalation of US/China trade conflict.
The pair is on track for…
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Bears extend through key Fibo support after double upside failure
Downside risk increases as Euro extends weakness below trendline support (1.1180) and key Fibo point at 1.1169 (61.8% of 1.1111/1.1263), after double upside rejection at 30SMA (Wed / Thu).
Weaker pound on fresh negative news regarding…
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Bears pressure key Fibo support at 1.2773
Cable holds firmly in red and extends weakness close to key support at 1.2773 (Fibo 61.8% of 1.2397/1.3381) on Friday.
The pair is on track for the second consecutive weekly close in red and the biggest one-week fall in two months that…
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Fresh easing signals that recovery phase might be over
The pair fell back to 109.50 zone (approx. the mid-point of this week’s range) on fresh safe-haven buying as markets fear an escalation of US/China trade tensions after China signaled a lack of interest in resuming trade talks with the US…
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Bears are positioning for fresh extension as expectation of rate cut weigh
The Aussie dollar bounces from new low at 0.6891 (the lowest since 3 Jan) in corrective action as daily stochastic reverses from oversold territory.
Overall picture remains bearish on both, daily and weekly chart and favors further…
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Cable hit new three-month low and eyes key support at 1.2773
Cable accelerated lower in early European trading on Thursday and hit new three-month low, driven by negative sentiment on rising pressure on PM May to step down.
Decision to hold another parliamentary vote on Brexit (likely in early June)…
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Euro remains in red despite solid EU/German data and US retail sales miss
The Euro stands at the back foot at the beginning of the US session on Wednesday, despite solid EU / German GDP data and disappointing US retail sales.
German GDP rose 0.4% in Apr while EU figures came in line with expectations, but US…
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Brexit concerns and safe-haven buying push the cross further down
The cross extends weakness to new over three-month low on Wednesday, driven by fresh safe-haven buying and UK government’s announcement that it would hold another Parliament vote on Brexit deal, which has been already voted down three…
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Turkish lira is losing ground after limited help from the intervention
Attempts of Turkey’s financial authorities to help weakening lira, showed limited positive reaction for the currency so far.
Last week’s intervention slowed lira’s fall, but subsequent weakness signals that the action would be likely…
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Recovery attempts show signs of stall
The pair eases in early European trading after attempts to extend Tuesday’s recovery were repeatedly capped by falling 5SMA (109.63) which tracks descend in past two weeks.
Japanese yen remains supported by concerns about further…
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