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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Cable falls on disappointing UK data but firmer direction signals are still required
Cable accelerated lower from session high at 1.3301 and fell over 50 pips after UK data disappointed.
UK industrial output unexpectedly fell by 0.4% in May vs forecasted +0.5%; GDP came in line with expectations (0.3%) while Manufacturing…
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Fresh bullish extension pressures key barrier at 111.39
The pair extends rally from 110.30 higher base into the second straight day and hit new high at 111.20 (the highest since 22 May) on Tuesday, on probe above key near-term barrier at 111.13 (03 July high / 20-d upper Bollinger band).
Fresh…
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