Copper hit new one-year low on rising fears of trade war escalation
Copper price holds in steep descend from $3.3140 (07 June high), which accelerated today after announcement that the US would impose further tariffs on Chinese goods.Extended weakness hit new one-year low at $2.7160, after bearish signal…
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Negative sentiment on trade war fears / Libya offsets positive impact from strong draw in oil…
WTI oil price moved lower on Wednesday on concerns that renewed trade war threats could depress demand, with negative sentiment being additionally boosted by news that oil exports from Libya would return to normal levels after being reduced…
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USDJPY maintains bullish tone but caution on fresh risk aversion
The pair holds positive tone on Wednesday but holding below previous day's spike high at 111.35 for now.
Strong rejection on initial attempt at key barrier at 111.39 (21 May high) could be seen as hesitation which requires extended…
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Cable looks for direction signal
Cable holds within tight range in early Wednesday's trading, with slight bullish bias following Tuesday's positive close and recent M&A news.
Immediate downside risk following political turmoil in the UK is sidelined for now, but risk…
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EURUSD holds in sideways mode and looks for stronger direction signal
The Euro was mostly sidelined in Asia on Wednesday, but holding in daily cloud, following Tuesday's bounce and close above cloud base.
Renewed concerns about trade war offered mild support, while today's comments from ECB's policymaker…
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Aussie fell in Asia on talks of new US tariffs
The Aussie dollar accelerated lower in Asian session on Wednesday, after the US said on Tuesday it would impose an extra tariff on Chinese goods.
The Australian dollar is considered as a proxy for China-related trades and reacted…
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Turkish lira remains at the back foot; eyes July 24 policy meeting for stronger signal
The Turkish lira recovered modestly on Tuesday, following strong fall on Monday (the biggest one-day fall since 4 May 2016), sparked by announcement that Turkish President Erdogan appointed his son in law as financial minister.
Lira…
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EURUSD returns below daily cloud, weighed by downbeat German data
The Euro remains in red at the beginning of the US session on Tuesday and holds below daily cloud base, after being hit by downbeat German data earlier today.
German ZEW data showed investor morale fell strongly in July and hit the lowest…
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SPOT GOLD accelerates lower following bearish signal on Monday’s shooting star pattern
Spot Gold holds in red on Tuesday and dips below $1250 handle, as dollar strengthened on short-covering.
Bearish signal was generated on Monday’s strong upside rejection at $1265 (Fibo 38.2% of $1309/$1237) and subsequent easing which…
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BRENT OIL extends rally on strike threats in Norway
Brent oil rallies strongly for the second day and is on track to fully retrace corrective phase from $79.54 (29 June high) to $76.35 (06 July low) which was contained by top of thick daily cloud.
Fresh boost to oil prices comes from…
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