WTI Oil cracks $64 barrier, underpinned by shrinking US stockpiles
WTI oil continues to trend higher and probed above $64 per barrel for the first time since December 2014.
Strong bullish sentiment over declining US stockpiles (the latest report on Wednesday showed draw of 4.94 million barrels vs…
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SPOT GOLD – near-term bias remains bullish despite strong upside rejection
Spot Gold remains constructive on Thursday but holding under new four-month high at $1327, posted on Wednesday.
The yellow metal pared gains as dollar managed to regain ground after being hit by news from China regarding reduction or halt…
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USDJPY – limited consolidation after sharp fall; key barrier at 112.00 expected to cap upticks
The pair bounces on Thursday after suffering heavy losses in past two days with strong bearish acceleration on Wednesday on China's US treasuries purchase story.
Wednesday fall was the biggest one-day fall since Nov 22 and hit 1 ½ month low…
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GBPUSD – may fall further as greenback regains traction; key support at 1.3457/54
Cable remains in red on Thursday and extends weakness off 1.3585 lower top into fourth straight day and hits the lowest level in 2018 at 1.3473, where fresh weakness found footstep, provided by base of thick 4-hr cloud.
Fresh weakness…
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EURUSD – underlying bulls may pause further for extended consolidation; 1.1900 expected to…
The Euro attempts to stabilize above correction low at 1.1915, posted on Tuesday. Support is reinforced by rising 20SMA and lies just above another significant support at 1.1903 (daily Kijun-sen / 50% retracement of 1.1717/1.2088 upleg).…
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AUDUSD rallied to new 2 ½ month high after upbeat Australian retail sales data
The Aussie rallied to new 2 ½ month high at 0.7886 on Thursday, boosted by upbeat Australian retail sales data (Nov 1.2% vs 0.4% f/c and 0.5% in Oct) as well as weaker US dollar on reports China could slow purchases of US treasuries.
Fresh…
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USDCHF – improving environment could attract further advance
Strong bullish acceleration on Tuesday extended recovery leg from 0.9699 (02 Jan low) and penetrated daily cloud (cloud base lies at 0.9813).
Increasing risk appetite on brighter US rate outlook and improving environment on lift above daily…
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COPPER – correction is pausing but downside risk remains
Bears are taking a breather after pullback from new high at $3.3200 found footstep at $3.2200 zone and price bounced higher on weaker dollar on Tuesday.
Bullish Doji reversal pattern is forming on daily chart but requires strong bullish…
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SPOT GOLD – risk of deeper pullback
Spot Gold remains in red on Tuesday and retests spike lows of past two days ($1314/13) left after repeated downside rejections.
The yellow metal is pressured by higher dollar and rising bets on further US interest rate hikes in 2018.
Fresh…
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WTI OIL posts new 2 ½ year high but risk of stall persists
WTI oil remains well supported and posted new high at $62.53 on Tuesday (the highest since mid-May 2015).
Oil price spiked higher after a narrow three-day consolidation, generating signal of bullish continuation
Overall bullish sentiment…
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