EURUSD – bulls hold grip and eye key barriers as markets await release of German CPI data
The Euro keeps firm tone on fading hopes for ECB rate cut, with markets focusing on tomorrow’s release of German inflation data (annualized CPI expected to rise in May).
The bull leg off higher low at 1.0805, where 100DMA contained…
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German business climate remains unchanged in May – Ifo survey
German Ifo business climate index was unchanged at 89.3 in May and missed forecast at 90.4, adding to concerns about slowdown in the economic recovery in the Europe’s largest economy.
Weaker than expected numbers in Germany’s top leading…
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Dollar index stands at the back foot ahead of key economic releases this week
The dollar moved within a narrow range in Asian / early European session on Monday, but near-term picture remains bearishly aligned, weighed by Friday’s 0.3% drop and formation of bearish engulfing pattern on daily chart.
Rising negative…
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Gold – thick daily cloud contained sharp pullback but fresh recovery so far lacks strength
Gold price edges higher in early trading on Monday after last week’s 5% pullback from new record high found solid ground at $2327/25, provided by the top of thick rising daily Ichimoku cloud.
Partial profit taking lifted the price,…
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GBPUSD – bulls regained control and look for renewed attack at key barriers
Cable returned to strength after limited impact from upbeat US PMI’s (Thursday) and disappointing UK retail sales (Friday), establishing above 1.2700 mark in US trading on Friday.
The pair is on track for the second weekly gain and…
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AUDUSD regains traction after losing over 1% this week
AUDUSD edges higher on Friday as traders collected part of profits from the drop in past four days.
Today’s action marks the first gain this week, but the pair remains on track for a weekly loss of over 1% so far.
Technical studies on…
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WTI OIL remains in red as hawkish Fed minutes fueled demand concerns
WTI oil price remains in red for the fourth consecutive day and pressuring fresh three-month low ($76.42) posted in the previous session.
Near-term sentiment weakened after Fed’s minutes of the latest policy meeting showed that…
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EURUSD – recovery needs further positive signals to resume
The Euro regained traction and bounced 0.3%, after pullback from 1.0895 (May 16 high) was repeatedly rejected at 100DMA (1.0814), generating initial signal of a double-bottom and potential end of corrective phase.
Fresh strength so far…
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Gold – hawkish Fed minutes further weaken near-term sentiment
Gold price remains in red for the third straight day and fell to the lowest since May 15 during early European session on Thursday, in extension of Wednesday’s 1.75% drop.
Fed minutes, released late Wednesday, showed that the US central…
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Fed policymakers keep hopes that inflation will continue to cool – FOMC minutes
The minutes of the US Federal Reserve April 30 / May 1 FOMC policy meeting showed that policymakers believe that price pressures will continue to ease and head towards 2% target in coming months.
The latest inflation data from the US,…
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