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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US job growth slows more than expected in April – NFP
The latest data on US job growth in April shows a slowdown in the pace of hiring, with nonfarm payrolls increasing by 175,000 jobs, compared to an upwardly revised figure for March. While this figure fell short of expectations, it's still…
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Crude oil on track for a weekly loss of over 5%, weighed by demand concerns
WTI oil price is consolidating for the second straight day after a sharp fall earlier this week, but keeps firm bearish bias below broken psychological $80 level.
Oil is on track for the biggest weekly drop (around 5.6%) in more than…
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EURUSD – bulls hold grip and pressure pivotal barriers; US labor data eyed for fresh signals
The Euro keeps firm tone and extends gains into third consecutive day, pressuring key resistances at 1.0750 zone (50% retracement of 1.0885/1.0601 / daily Kijun-sen).
Firm break here to generate fresh bullish signal for extension of the…
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Eurozone factory activity weakened further in April – PMI
The recent report on manufacturing activity in the eurozone paints a mixed picture, with overall conditions deteriorating despite some pockets of improvement.
In April, manufacturing activity across the euro zone declined further due to…
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