USDJPY – correction is likely to be limited
USDJPY extends pullback from the three-month high (150.88) into second straight day, as traders booked profits after Tuesday’s rally of nearly 1%.
Overbought daily studies contributed to fresh selling, which is expected to push the price…
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UK economy falls into recession in the second half of 2023
Great Britain’s gross domestic product contracted more than expected by 0.3% in the fourth quarter compared to 0.1% contraction during July-September period and consensus for 0.1% drop.
The fourth quarter fall in GDP was the biggest…
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WTI oil – bulls hold grip on favorable fundamentals but may take a breather for consolidation…
WTI oil extends advance into eighth consecutive day and hit the highest in over two weeks on Wednesday, after OPEC’s forecasts for a robust demand and decline in US fuel stocks added to growing concerns, driven by geopolitical factors.…
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Cable falls further after below-forecast UK January inflation
Cable extends weakness into second straight day, initially deflated by stronger dollar on unexpectedly hot US inflation on Tuesday, while today’s softer than expected UK CPI data raised bets for BoE rate cut by June and added pressure on…
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Unchanged UK inflation in January provides relief to Britain’s central bank
British inflation unexpectedly remained unchanged at 4.0% in January, contrary to expectations of a 4.1% increase. This stability offers relief for the Bank of England and Prime Minister Rishi Sunak, particularly in the lead-up to an…
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Dollar index – bulls regained control after hotter than expected US January inflation
The dollar index is trading near three-month high in early Wednesday, following sharp rise (0.7%) on Tuesday, sparked by higher than expected US January inflation, which cooled bets for the first Fed rate cut.
Fresh advance generated…
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Gold falls below $2000 after US inflation data
Gold price fell sharply after US data showed January inflation increased above expectations and cooled hopes for early start of Fed rate cuts, which made the dollar more attractive and deflated demand for safe haven bullion.
The price…
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US inflation rises above expectations in January
Inflation in the United States rose above expectations in January amid rises in the costs of shelter and healthcare, but January’s increase is unlikely to have stronger impact on growing expectations that the Federal Reserve will start…
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UK earnings ease in December but BOE looks for more evidence before starting to cut rates
British earnings grew at the weakest pace in more than a year at the end of 2023, but the labor market slowdown was probably not significant enough to prompt the Bank of England into faster action towards cutting interest rates.
Wages…
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Bitcoin – overbought studies suggest that limited correction would precede fresh push higher
Bitcoin keeps firm tone and holds near one-month high on Monday, after advancing 12.5% last week (the biggest weekly gains since mid-Oct 2021) however, narrower ranges in past three days suggest that bulls might be running out of steam on…
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