COPPER hits new one-year high on strong dollar / demand concerns on US- China trade conflict
Copper hit new one-year low at $2.6720 on Thursday, as fresh acceleration lower ended five-day consolidation and signaled continuation of larger downtrend from $3.3140 (07 June high).
Strong dollar and rising concerns about demand,…
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Cable slides below 1.30 handle after downbeat data; Fibo support at 1.2865 is coming in focus
Cable trades below 1.30 handle ahead of start of the US session on Thursday, following fresh bearish acceleration on downbeat UK retail sales data, released earlier today.
Retail sales fell well below expectations in June (m/m -0.5% vs…
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WTI OIL comes under renewed pressure on oil stocks build / increase of US output
WTI oil price fell on Thursday after recovery attempts from $67.02 double-bottom (also 100SMA) stalled on negative news that increased pressure on oil prices.
Unexpected strong rise in oil inventories (EIA report showed build of 5.8…
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Bullish outlook remains intact after Wednesday’s Doji
The pair is regaining traction and probes again above 113 barrier on Thursday, pressuring previous day's new multi-month high at 113.13 and sidelining downside risk signaled by Wednesday's Doji with long upper shadow.
Near-term bias…
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Fresh weakness from recovery tops turns n/t focus lower
The Euro holds in red for the third straight day and pressures again Wednesday's spike low at 1.1601, after recovery attempts from here ran out of steam at 1.1660 and left hourly double-top before falling back.
Fresh weakness nearly fully…
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Aussie reverses gains on upbeat Australian jobs data, driven by stronger greenback and weaker yuan
The Australian dollar accelerated lower in early European trading and erased all overnight gains on upbeat Australian jobs data (employment change 50.9K in Jun vs 16.7K f/c and 13.5K in May).
Post-data rally stalled at 0.7441 (former…
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Weak UK retail sales would add to negative outlook and spark fresh weakness below 1.30
Cable came under pressure in late Asian / early European trading, after brief recovery from Wednesday's new ten-month low at 1.3009, which stalled at 1.3083.
Pound was hit by weaker than expected UK inflation data on Wednesday and probed…
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COPPER is consolidating above new one-year low before bears resume
Copper hit new one-year low at $2.7150 on Wednesday and generated bearish signal on completion of near-term correction from $2.7160 (11 July former low) which stalled at $2.7980, capped by falling 10SMA.
The metal price accelerated lower…
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USDJPY eases below 113 handle on o/b conditions / weak US housing data
The pair stands at the back foot in early US trading and dipped to session low at 112.70 after bulls stalled on initial attempt above 113 handle.
Overbought daily studies signaled easing which was helped by poor housing data released…
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WTI OIL – bears are taking a breather; crude inventories report eyed for fresh signal
WTI oil price trades within narrow consolidation on Wednesday after strong bearish acceleration in past two days hit new 3 ½ week low at $67.02.
Thin daily cloud which twists today, reinforced by rising 100SMA, offered temporary support,…
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