Dollar index is standing at the front foot ahead of Fed
The dollar index firmed on Wednesday, as markets await the Fed rate decision, at the end of the first policy meeting this year.
Although the price rose slightly, it remains within the larger congestion and lacks direction as a number of…
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China’s economic activity is still moving below desired pace – PMI
China’s manufacturing purchasing managers' index (PMI) rose to 49.2 in January, in line with expectations, from 49.0 in December. Rise in output, was the main contributor to slight improvement last month, though the figure remains below the…
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Eurozone economy narrowly avoids recession in the fourth quarter – GDP
According to a preliminary estimate from Eurostat, the gross domestic product in the 20 countries sharing the euro was flat in the fourth quarter of 2023 compared to the previous three months.
The result surpassed market expectations,…
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Australian retail sales drop more than expected in December
Australian retail sales fell 2.7% in December, after 1.6% rise in November, driven by Black Friday’s strong spending and strongly disappointed expectations for 1% drop.
Unexpectedly strong drop in December slowed growth in spending…
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Gold rises on geopolitical tensions but the path of Fed rate cuts to be the main driver
Gold price rose on Monday, as growing tensions in the Middle East boosted demand for safe haven metal, while markets focused on Fed’s monetary policy meeting this week.
Fresh strength cracked pivotal barriers at $2029 / 37 zone (daily…
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EURUSD – repeated probe through pivotal supports adds to negative near-term bias
Bearish pressure rises on break below 200DMA (1.0841) and probe through 1.0821 Fibo support (76.4% retracement of 1.0723/1.1139 upleg), as fresh bears also violate the floor of four-day congestion.
Firm break lower to signal continuation…
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Bitcoin – recovery faces increased headwinds at key resistance zone
Narrow sideways mode extends into third consecutive day after recovery from two-month low (38501 of Jan 23) showed signs of stall at key resistance zone (42500).
The price action is on track to form the third straight daily Doji candle…
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WTI OIL enters corrective phase but remains supported by growing supply disruption concerns
WTI oil eases in early Monday trading after opening with a gap higher and price rose new two-month high ($79.27).
Growing tensions in the Middle East and fall in Russian refined products export, continue to fuel fears of supply…
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US inflation remains in a downward trajectory despite moderate price rise in December – PCE
In December, US. prices rose moderately, keeping the annual increase in inflation below 3% for a third straight month.
The Personal Consumption Expenditures (PCE) price index increased by 0.2% in December, with an annualized gain of…
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EURUSD – near-term action looks for direction signals
The Euro rose to the upper side of near-term congestion on Friday, after hitting new marginally lower low of larger downtrend from 1.1139 (Dec 28 peak).
Today’s bounce points to still strong bids, although without sufficient bullish…
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