USDJPY – extended consolidation above trendline support to precede push towards key barriers
USDJPY edges lower on Friday as traders collect some profits ahead of the weekend but keeps overall bullish structure.
The pair is on track for another weekly gain and the second weekly close above 150 level, which will further boost…
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GBPUSD – bulls hold grip despite strong upside rejection on Thursday
Cable kept firm tone and extended advance on Friday, despite strong upside rejection the previous day which left the daily candle with long upper shadow, indicating that bulls might be running out of steam.
Fresh strength probes again…
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EURUSD – final close above 200DMA to strengthen near term structure
The Euro is holding within a narrow range on Friday but keeps slight bullish bias on strong positive momentum and the pair being on track for the first bullish weekly close in five weeks.
On the other hand, multiple failure to clear…
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Euro zone business activity showed slight signs of improvement in February – PMI
The euro zone services PMI jumped to 50.0 in February from January's 48.4, strongly overshooting consensus for 48.8, while manufacturing PMI dropped to 46.1 in February from 46.6 previous month beating expectations for a rise to 47.0.…
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Fed worries about cutting rates too soon but remains concerned about the downside risk to the…
The minutes of US the Federal Reserve's Federal Open Market Committee last policy meeting showed that policymakers remain concerned about the risks of cutting interest rates too soon, but also pointed to uncertainty about how long interest…
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WTI OIL price eases further, as US rate outlook offsets persisting Middle East worries
WTI oil extends pullback into second consecutive day after recent rally repeatedly failed to clearly break pivotal Fibo barrier at $78.13.
Subsequent easing is generating an initial signal of reversal and formation of a lower platform at…
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Dollar eyes FOMC minutes for fresh direction signal
The dollar index rose in in early trading on Wednesday, recovering losses from the previous day, driven by drop in global bond yields, as traders await release of FOMC minutes (due later today) for fresh signals.
Pullback from new…
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Canada’s inflation eases well below expectations in January
Canada's inflation rate slowed more than expected to 2.9% in January, down from 3.4% in December, beating expectations for a more minimal drop to 3.3% and marking the dip below 3% for the first time since June 2023.
The monthly consumer…
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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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