Oil recovers on fresh risk sentiment, but bulls need more evidence to confirm reversal
WTI oil price rises on Monday and recovering last Friday’s 2.5% fall, boosted by renewed optimism on possible deal on US/China trade talks.
Strong rise in US oil production (peaked at 12.1 million bpd) partially offset positive impact from…
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Aussie stands at the back foot and pressures key Fibo support at 0.7070 ahead of RBA
The pair holds in red in Europe on Monday, as mixed Australian data partially offset positive signals from renewed optimism on possible US/China trade deal.
Fresh weakness pressures again key Fibo support at 0.7070 (38.2% of 0.6706/0.7295)…
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Bulls may accelerate on triggering large stops above 112.30
The pair consolidates within tight range under new multi-week high at 112.07 (posted last Friday), as President Trump’s criticism of the US central bank over too high dollar capped advance, but so far without stronger negative impact for…
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Fresh risk mode pushes Euro through key supports
Cable traded in a narrow range and without clear direction in Asian session on Monday, but holds near-term bullish bias following gap-higher opening at the beginning of the week.
Receding concerns about no-deal Brexit, President Trump’s…
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Fresh risk mode boosts pound but risk of deeper pullback exists
Cable traded in a narrow range and without clear direction in Asian session on Monday, but holds near-term bullish bias following gap-higher opening at the beginning of the week.
Receding concerns about no-deal Brexit, President Trump’s…
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Mixed signals keep near-term action without clear direction
Cable bounced to new daily high at 1.3286 after weaker than expected US Manufacturing / Personal Income data pressured greenback.
Fresh strength prevented the pair from deeper pullback after larger bulls stalled at 1.3349 on Wednesday and…
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Loonie tumbles after weak Canada’s GDP data
The Canadian dollar fell almost a hundred pips against its US counterpart on Friday, pressured by downbeat Canada’s GDP data.
Canada’s economy grew 0.4% y/y in Q4, decelerating significantly from Q3 growth of 2%.
Monthly figure also…
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Strong fundamentals continue to underpin oil price for final break above $57.79/85 highs
WTI oil cracked previous high at $57.79 (22 Feb) and posted new, marginally higher high at $57.85 on Friday, but was so far unable to sustain break.
The price holds in green for the fourth straight day, as solid US GDP and stronger than…
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Better than expected China’s data sidelined bears but risk of further weakness exists
The Australian dollar ticks higher on Friday, as traders booked profits from strong fall of past two days.
Better than expected China’s Manufacturing data (Feb Manufacturing PMI 49.9 vs 48.5 f/c and 48.3 in Jan) sidelined bears, but…
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Final break above 200SMA inflated bulls for test of next key barriers at 112.20/35
The pair maintains strong bullish tone and extends rally to psychological 112 barrier on Friday, after upbeat US GDP data on Thursday boosted the dollar.
Eventual break and close above pivotal 200MA barrier (the pair last traded above it…
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