Gold spikes above $2400 again as deteriorating geopolitical situation boosts demand
Gold probed above $2400 level for the second time, inflated by increased safe-haven demand following Israel’s attack on Iran early Friday.
Although the spike above $2400 (the metal’s price reached $2417) was so far short-lived, near-term…
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Solid US data lift dollar but risk of deeper correction exists
The dollar regained traction on Thursday, lifted by solid US economic data (weekly jobless claims matched last week’s figure and Philadelphia Fed manufacturing index surged to two year high in April, strongly beating previous release and…
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EURGBP looks for fresh direction signal
EURGBP dips in early Thursday’s trading, after a double upside failure at falling 100DMA (0.8572), the lower boundary of strong resistances at 0.8580 zone (including Fibo 38.2% of 0.8714/0.8498 downtrend and a multiple spike highs).…
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EURUSD holds grip but recovery still requires confirmation
The Euro remains constructive and ticks higher in early Thursday after Wednesday’s 0.5% bounce from new multi-month low, but initial reversal signal still needs more evidence to be validated, as daily studies are predominantly bearish.…
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Oil prices fall further on rising demand concerns and fading fears about escalation of the Middle…
WTI oil price dips further in early Thursday, in extension of previous day’s 3% drop (the second biggest daily loss in 2024) and hit new three-week low.
Stronger than expected rise in US crude inventories (EIA report) further raised…
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Inflation in EU continues to ease, adding to bets for ECB’s June rate cut plan
Eurozone inflation slowed further in March, aligning with expectations and reinforcing anticipation for a potential interest rate cut by the European Central Bank in June.
Inflation in the euro bloc decelerated to 2.4% in March from 2.6%…
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Gold steadies near $2400 barrier
Gold regained traction after a $100 per ounce pullback from new record high last week and pressuring again psychological $2400 barrier.
Overall sentiment remains positive as geopolitical tensions and fears that the conflict in the Middle…
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UK inflation slows less than expected in March but remains on the path towards 2% target
British inflation slowed by less than expected to a two-and-a-half-year low of 3.2% year on year in March, down from a 3.4% increase in February, but ticked above 3.1% forecast, with slowdown in food prices seen as the main contributor to…
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Sterling benefits from slightly higher than expected UK CPI
Cable bounces from new five-month low in early Wednesday, following higher than expected UK inflation in March, which eases pressure on BoE to start cutting interest rates as early as next month and inflates pound.
Overall technical…
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USDJPY approaches 155 barrier, the zone of potential Japan’s intervention
USDJPY neared 155.00 barrier on Tuesday, as the latest bullish acceleration extends into fifth straight day.
The dollar continues to benefit from growing signals about the strength of the US economy which may further delay the start of…
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