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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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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