US nonfarm payrolls rose well above expectations in May
US nonfarm payrolls increased by 272K jobs in May, compared to downwardly revised April figure (165K from 175K) and spiked well above median forecast for 182K rise.
The Labor Department's closely watched report on Friday also showed…
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Gold falls sharply on news from China, NFP in focus
Gold price was sharply down during European trading on Friday, as news that China’s central bank paused gold purchases last month after buying the yellow metal for 18 straight months.
The price pulled back from new three-week high…
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USDCHF at a multi-week low and cracking key supports ahead US jobs data
USDCHF stands at the back foot and hit new multi-week low early Friday, as markets await release of US jobs report for May.
Recent bear-leg from 0.9158 (May 24 lower top) has found solid support at 0.8893/83 zone (200DMA / Fibo 38.2% of…
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ECB delivers its first rate cut despite sticky inflation
The European Central Bank delivered today its first interest rate cut since 2019, pointing to progress in tits ongoing task to bring inflation to 2% target, although admitting that the fight was far from over.
The ECB cut its deposit…
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GBPUSD – extended consolidation likely to precede fresh push higher
Cable is consolidating under new multi-week high (1.2817), with near-term action underpinned by rising 10DMA (1.2758) and looking for fresh push higher and attack at 2024 high (1.2893).
Daily moving averages in full bullish configuration…
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EURUSD – bulls hold grip ahead of key event – ECB policy decision
The Euro edged higher on Thursday morning and partially reversed a two-day pullback from new multi-week high (1.0915), but today’s action was so far choppy and lacking direction, as traders await the verdict from the ECB later today.
The…
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US dollar index – reversal pattern forming on daily chart as upbeat US Services PMI data…
The dollar index accelerated higher on Wednesday, following much stronger than expected US services PMI data (May 53.8 vs 51.0 f/c and Apr 49.4) which signaled that services sector returned to growth (May figure hit the highest in nine…
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Gold – key economic events this week to provide fresh direction signals
Gold price edges higher early Wednesday, bouncing off the floor of near term range and remaining without clear direction as markets await fresh signals from key economic events this week.
Conflicting technical indicators on daily chart…
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USDJPY eases further on Fed rate cut speculations and Japan’s readiness to intervene again if…
USDJPY fell to the lowest in nearly three weeks on Tuesday, in extension of the bear-leg from 157.70 (May 29 lower top) driven by weaker dollar on signals of potential earlier Fed rate cut and comments from Japan’s officials about results…
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WTI oil extends steep fall on growing demand concerns
WTI oil price remains in a steep fall for the fifth consecutive day, losing over 1% and hitting new four-month low in early Tuesday’s trading, after 3.8% drop on Monday (the biggest daily fall since Nov 16).
The sentiment soured on…
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