USDJPY trades within extended narrow range ahead of key US labor data
USDJPY remains within a two-week range and consolidating just under multi-year peaks at 151.90/152.00 zone (tops of Oct 2022 / Nov 2023 / March 2024).
Extended sideways mode (the pair is on track to end the second consecutive week in a…
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Gold jumps from $2200 to $2300 in just four days, overextend studies warn of correction
Gold hit new record high on Thursday on brief probe above psychological $2300 barrier and recorded the fastest rise from one to the other round-figure level, travelling only four days from $2200 to $2300.
The metal remains well supported…
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USDCHF – bulls hold grip on signals of another SNB rate cut
The USDCHF regained traction on Thursday after a shallow pullback from new five-month high (0.9095) and holding within a narrow consolidation.
Softer than expected Swiss inflation data adds to expectations that the SNB will opt for…
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AUDUSD – Strong recovery cracks pivotal barriers at 0.6600 zone
AUDUSD rallies for the third straight day, lifted by weaker US dollar and downbeat US services PMI data (released on Wednesday).
Bulls cracked pivotal 0.6600 resistance zone (double-Fibo / 100DMA / round-figure), trading at these levels…
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GBPUSD – slight bullish bias above 200DMA but thin daily cloud is still significant obstacle
Cable extends recovery from 1.2540 double bottom (Apr 1 / 2 lows) and pressuring significant barrier at 1.2674 (daily cloud top / Fibo 38.2% of 1.2893/1.2539), as bulls regained traction after a false break below pivotal 200DMA support…
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Dollar index remains at the back foot ahead of key US data
The dollar index remains in red for the third straight day and extend pullback from new multi-week high (104.83).
Fresh bears pressure pivotal supports at 103.84/80 (Fibo 38.2% of 102.26/104.83 / top of thick daily Ichimoku cloud), with…
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US private payrolls rise above expectations in March – ADP
US private payrolls increased by 184,000 jobs in March, after expanding by 155,000 in February (upwardly revised from 140,000) and beat forecasts for 148,000 rise.
Stronger than expected hiring in the private sector in March and upward…
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Eurozone inflation falls below forecasts in March, adds to ECB rate cut expectations
The Eurozone experienced an unexpected decline in inflation last month, adding weight to the case for the European Central Bank (ECB) to consider lowering borrowing costs from their current record highs.
Bloc's consumer price growth…
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USDTRY – risk of deeper correction exists
USDTRY remains at the back foot and pressuring the floor of near-term consolidation range at 31.800 zone.
Signals of a deeper correction (last seen in August 2023) are developing on daily chart, as momentum indicator slid into negative…
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Gold – healthy correction likely to precede fresh push higher
Gold edges lower from new record high ($2288) in early Wednesday, as bulls show signs of fatigue after advancing over 5% in a steep acceleration in past six days.
Although the metal resumed the uptrend in early April, after an impressive…
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