DOLLAR INDEX – geopolitical uncertainty and inflation concerns to continue to provide support
The US dollar jumped on opening on Monday and quickly reversed gains but remained within approx. $50 range for the day.
Fresh escalation in the Middle East added to inflation concerns and expectations that the Fed would keep its hawkish…
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GOLD – key $4K support zone at risk again on worsening geopolitical situation
Gold edged lower after opening with $20 gap lower on Monday, following the latest escalation in the Middle East that fueled inflationary risk and added to expectations that the Fed will keep higher interest rates or possibly opt for rate…
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EURGBP – limited correction to precede fresh push lower
EURGBP holds within narrow consolidation on Thursday after hitting new over one year low in strong bearish acceleration in past couple of sessions.
The pair is also on track for the third consecutive strong weekly loss, as Sterling…
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NZD jumps on RBNZ hawkish hike but struggles to hold gains
The New Zealand dollar rose 0.75% in immediate reaction to (expected) action of the RBNZ to raise interest rates by 25 basis points to 2.5%, earlier today.
This was the first rate hike in almost three years, with comments from the…
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Brent oil price jumps over 4% on fresh escalation of US-Iran conflict
Brent price jumped over 4% on Wednesday morning, extending recovery leg from temporary base at $70 zone.
Fresh acceleration was sparked by the latest comment from President Trump that deal with Iran is over, following the latest fire…
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AUDUSD – recovery faces increased headwinds from initial Fibo resistance
Tuesday’s action, shaped in tight Doji candle, suggests that recovery leg from 0.6865 (June 30 low) starts to lose traction, following repeated failure at initial Fibo barrier at 0.6961 (23.6% retracement of 0.7271/0.6965) reinforced by…
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GBPUSD – recovery faces strong headwinds on approach to key 1.3400 resistance zone
Cable moves within a narrow-range sideways mode for the second consecutive day, after 1% advance last week that completed reversal pattern on weekly chart (after the downleg from 1.3869 was contained by ascending trendline, drawn off…
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USDJPY – bulls regain control after limited correction, eye multi-decade peak
Strong rise in early Monday trading is about to fully reverse last week’s 162.84/160.47 pullback, which marked a healthy correction (contained by Fibo 23.6% of 155.02/162.84 upleg) of larger uptrend.
Completion of reversal pattern on…
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EURGBP – larger bears to take a breather
EURGBP edges higher on Friday after fresh acceleration lower in past three days failed to clearly break Fibo support at 0.8552 (50% retracement of 0.8239/0.8865 rally, also weekly Ichimoku cloud base) and formed a bear-trap pattern on daily…
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US labor growth slows more than expected in June – NFP
The closely watched employment report from the US Labor Department released on Thursday showed nonfarm payrolls increased by 57,000 jobs in June after a downwardly revised 129,000 (from 172,000) rise in May and disappointed expectations for…
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