WTI Oil – recovery extends into third day but risk of stall exists
WTI oil price extends recovery from new multi-week low ($71.40) into third consecutive day.
Profit-taking after last week’s 8.1% drop was contained by 200WMA, lifted the price along with lower than expected increase in US crude…
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German industrial production falls well below expectations in December
German industrial production fell in December by 1.6%, after contracting by 0.2% previous month and well below forecast for 0.4% fall.
December’s figure marks the seventh consecutive monthly decline in German industrial production and…
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USDJPY – post-NFP rally runs out of steam on approach to key resistance zone
Strong post-NFP rally (USDJPY was up 1.6% in past two days) faced increased headwinds at strong resistance at 148.80 (Jan 19 peak) and ahead of next significant barriers at 149.00/15 (psychological / Fibo 76.4% retracement of 151.90/140.25…
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Reserve Bank of Australia keeps rates unchanged but warns that further hikes remain on the table
Australia's central bank held interest rates unchanged at twelve-year high at 4.35% but warned that a further rate hikes could not be ruled out as inflation is still elevated.
Comments from the central bank signal that the policymakers…
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Dollar index rises to three-month high on upbeat US jobs data
The dollar index rises strongly for the second straight day, after robust US jobs report on Friday signaled that the labor sector remains tight and the economy is in good conditions, which cooled expectations for aggressive rate cuts this…
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Cable falls further as solid US NFP lift dollar
Cable extends strong fall into second consecutive day, remaining under increased pressure from stronger dollar after upbeat US labor data and relatively hawkish comments from Fed Chair Powell.
Fresh extension lower on Monday…
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EURUSD – bears tighten grip after break of another strong support
EURUSD remains firmly in red and hits two-month low on Monday morning, in extension of Friday’s 0.8% drop (the biggest daily loss since Jan 2).
Fresh weakness broke through significant support at 1.0776 (100DMA) increasing pressure on…
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Upbeat US January labor data add to signals that the economy remains resilient
US Nonfarm payrolls increased by 353,000 jobs in January, from upwardly revised December’s figure at 333,000 and strongly beating forecasts for 180,000 increase.
Strong acceleration in job growth last month was mainly driven by resilient…
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Bank of England puts high borrowing cost under review but remains cautious about rate cuts
The Bank of England decided to maintain interest rates at a nearly 16-year high during its last policy meeting, but has opened up the possibility of cutting interest rates in the future, signaling shift is in response to a decline in…
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Fed keeps rates unchanged and rules out March rate cuts but remains optimistic on overall positive…
Federal Reserve kept interest rates unchanged at 5.25%5.50% range, in their first policy meeting in 2024, as widely expected, but disappointed markets by comments that inflation is still elevated, and that March rate cut is unlikely.
The…
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