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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Deeper pullback cannot be ruled out on bulls’ stall / profit-taking
Cable holds in red for the second day and tested initial support at 1.3230 (rising 5SMA) on Friday.
Profit-taking after strong rally this week could push sterling lower, as slow stochastic reverses from overbought territory and supports…
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Fresh weakness after strong upside rejection cracks 30SMA support and increases risk of reversal
The Euro stands at the back foot in early Friday’s trading and eased to session low at 1.1353, on probe below 30SMA support at 1.1361, which held the action in past two days.
Stronger dollar on upbeat US GDP data increased pressure on…
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Slight bearish bias needs confirmation on break below temporary base at 0.7130
The Australian dollar consolidates after strong sell-off previous day, as renewed concerns over US/China trade talks soured sentiment.
Wednesday’s bearish outside day weighs, but fresh weakness found footstep at 50% retracement of…
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Directionless mode between 20 and 200SMA extends
The pair returned to directionless mode after short-lived dip to 110.35 on Wednesday, inspired by increased safe-haven demand, which started to fade.
Dip was contained by rising 20SMA, keeping near-term price action congested between 20…
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Bulls remain underpinned by 30SMA and attracted by cloud twist for final break above 1.1407 Fibo…
The Euro maintains bullish bias and consolidates under daily cloud, despite repeated failure to clearly penetrate cloud (Wed/Tue).
Bulls repeatedly failed to close above barriers at 1.1389/92 (100SMA / daily cloud base) and attack pivotal…
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Bulls take a breather under new 2019 high
Cable eases from new 2019 high at 1.3349 (the highest since 9 July) on Thursday, signaling adjustment, as traders take profit after strong rally in past two days.
Daily 14-d momentum crests and RSI / Stochastic start to turn lower,…
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