China cuts benchmark mortgage rates more than expected to support struggling property market
The announcement of China's largest-ever reduction in the benchmark mortgage rate reflects the government's efforts to support the struggling property market and stimulate the broader economy. Here are some key points from the information…
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USDJPY – larger bulls to remain in play above broken Fibo barrier
USDJPY remains constructive above psychological 150 level which reverted to support and managed to contain pullback from new three-month high (150.88).
Rising 10DMA is nearing this level and reinforcing support, keeping focus at the…
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Gold extends recovery despite sticky US inflation
Recovery leg from $1984 (9-week low of Feb 14) extends into third straight day after short-lived probe below psychological $2000 level was contained by 100DMA and Morning Doji Star reversal pattern formed on daily chart.
Although the…
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EURUSD – larger bears likely to resume after limited correction, FOMC minutes eyed for fresh…
The Euro narrowed range in holiday-thinned Monday trading, as bounce from last Wednesday’s 13-week low (1.0695) started to lose traction after being repeatedly capped by 100DMA (1.0790).
Formation of bear-trap below Fibo 61.8% support on…
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Dollar index – bulls start to regain traction after a shallow pullback as sticky US inflation…
The dollar index edged higher in early Monday after last week’s pullback from three-month high (104.85) was repeatedly rejected just above 100DMA (103.96), generating initial signal that correction might be over.
The dollar continues to…
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US retail sales unexpectedly drop in January
US retail sales fell by 0.8% in January compared to downwardly revised December’s rise from 0.6% to 0.4% and dipped well below forecast for 0.2% decline.
Core retail sales, which exclude automobiles, gasoline, building materials and food…
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Bitcoin hits the highest in more than two years, overbought studies warn of correction
Bitcoin extends steep ascend, benefiting from strong inflows to new US listed ETF, with over one trillion investment in bitcoin registered on Wednesday.
The price hit the highest in over two years in early Thursday’s trading, after 4.3%…
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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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