Renewed trade concerns increase pressure on metal’s price
Copper started trading in August in red and was down 2.4% in early trading on Wednesday, pressured by renewed trade war fears.
The metal extends broader weakness, as past two months ended in red with monthly losses of 4.85% (July) and 3.2%…
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Bears probe below 100SMA as pressured by increased output and surprise rise in crude inventories
WTI oil remains under increased pressure and extends weakness on Wednesday, after falling 2.35% previous day.
Tuesday's long red daily candle which formed bearish Outside Day, weighs on near-term action, with oil price being pressured by…
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Renewed trade tensions and weak China’s data keep Aussie at the back foot
The Australian dollar holds in red on Wednesday after three-day rally stalled at previous strong barrier at 0.7440 zone, weighed by renewed trade concerns and lower than expected China's Manufacturing PMI in July.
Strong rejection on…
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Sterling awaits verdicts from the central banks for stronger direction signals
Cable moved higher in early European trading after fall to 1.3095 in Asia found footstep just above strong support at 1.3085 zone (Higher base / 50% of 1.2957/1.3213).
Better than expected UK house price data helped pound but positive…
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Soft tone after strong upside rejection on Tuesday; US data / Fed eyed for stronger direction…
The Euro stands at the back foot and moved lower after weaker than expected German PMI data and European figure coming in line with expectations.
Weak tone on stronger dollar extends on Wednesday, after previous day's strong upside…
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Bulls extend above 112 ahead of Fed
The pair hit new nearly two-week high on probe above 112 handle on Wednesday, in extension of previous day's post-BoJ 0.8% rally (the biggest one-day gains since 11 July).
The dollar was additionally boosted by news that Trump's…
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Euro eases after failure on triangle resistance as dollar rallies
The Euro ran out of steam and fell back to daily lows at 1.1700 and erased all gains of the day, as fresh dollar’s strength put the single currency under pressure.
Initial probe through triangle resistance at 1.1740 (session high was at…
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USDJPY surges on US-CHINA renewed talks news; solid US data
The dollar surged to the highest levels in past seven days against yen, on news that US and China are to restart talks in attempt to avert growing risk of a trade war between world’s two biggest economies.
In addition, data released today…
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Turkish lira falls to one week low on fears on higher than expected inflation
The USDTRY ticked higher and hit session high at 4.9217 on Tuesday (one week high) but failed to hold gains.
Fresh weakness of lira was sparked by CBRT’s inflation forecast for the rest of the year and for 2019 which was revised higher, as…
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Falling 10SMA continues to cap and maintain bearish bias; FOMC verdict eyed for stronger signal
Spot Gold moved lower on Tuesday, maintaining negative near-term tone, with the bear-leg of past five days being capped by falling 10SMA.
Bearish techs maintain negative outlook which may result in retesting key support at $1211.
FOMC…
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