US inflation rises less than expected in April – positive signal for Fed
The latest data on US consumer prices indicates that inflation increased less than expected in April, suggesting a continuation of the downward trend at the beginning of the second quarter. This news has bolstered financial market…
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EURUSD at five-week high and testing key resistance zone ahead of release of US CPI data
The Euro keeps firm tone and hits new five-week high in early European trading on Wednesday. Fresh bull-leg extends into third consecutive day and cracked pivotal barriers at 1.0830 zone, consisting of 100DMA (1.0823) / Fibo 61.8% of…
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UK labor data add slight support to possible June rate cut
In March, wages in Britain grew more than expected, with a notable increase of 6.0% in the first three months of 2024 compared to the same period a year earlier. This figure slightly surpassed the consensus forecast of 5.9%. However, other…
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Bank of England keeps policy unchanged but signals rate cuts in the near future
The Bank of England kept its interest rates unchanged at a 16-year high of 5.25%, in its May policy meeting.
The decision was in line with expectations, but today’s MPC 7-2 vote to hold rates vs widely expected 8-1 vote, points to change…
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Crude oil price fell further on growing demand concerns
WTI oil price fell in early Wednesday as unexpected rise in US crude inventories further soured the sentiment on rising demand concerns.
Fresh weakness emerged below the base of rising daily Ichimoku cloud and broke through pivots at…
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GBPUSD action slows ahead of BoE policy decision on Thursday
Cable is holding within a narrow range on Tuesday as traders await fresh signals from the key economic event for sterling this week- BoE monetary policy meeting on Thursday.
Data released today (Apr UK construction PMI well above…
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Reserve Bank of Australia leaves rates at multi-year high but with less hawkish than expected stance
The Reserve Bank of Australia kept rates at a 12-year high of 4.35% at the end of two-day May policy meeting, surprising markets with less hawkish than expected stance, as many expected signals for another rate hike.
RBA Governor Michele…
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USDJPY – Initial reversal signal requires more work at the upside for confirmation
USDJPY edges higher on Monday after a pullback from new record high (160.19) was contained by strong Fibo support at 151.72 (61.8% retracement of 146.48/160.19 upleg, reinforced by 55DMA).
Strong rejection here left a Hammer candle on…
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AUDUSD – bulls hold grip ahead of RBA policy meeting on Tuesday
AUDUSD keeps firm tone on Monday, despite Friday’s spike and subsequent pullback, though with initial warning that traders may opt for a partial profit taking after strong rally in past two days, when the pair advanced 2%.
Stretched…
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Dollar comes under increased pressure on soft US labor data
The dollar fell to the lowest in almost one month, in immediate reaction to weaker than expected US labor data, which revived hopes for two rate cuts by the Fed this year.
Steep bear-leg extends into third straight day and generated…
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