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…
Read More...
Read More...
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…
Read More...
Read More...
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…
Read More...
Read More...
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…
Read More...
Read More...
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…
Read More...
Read More...
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…
Read More...
Read More...
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,…
Read More...
Read More...
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…
Read More...
Read More...
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…
Read More...
Read More...
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…
Read More...
Read More...