Recession fears grow as UK economy contracts in Q3
UK gross domestic product contracted by 0.1% in the third quarter, after expanding 0.2% in Q2 and against estimation that the economy was unchanged from the previous three months.
Data suggest that Britain's economy might be in a…
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Turkish central bank raises rates by 250 basis points to 42.5%
The Central Bank of Turkey has announced another increase in its key interest rate, raising it by an additional 250 basis points to 42.5%. This decision was in line with expectations and reflects the ongoing effort to combat soaring…
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Dollar index – bears pause ahead of US inflation data
The dollar index is moving in a narrow range in early Thursday, as holiday-thinned conditions slow the action and markets await key event for the dollar this week - release of US inflation data (PCE index) on Friday.
Near-term action is…
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Oil price rises further on growing supply disruption concerns
WTI oil price continues to trend higher, extending recovery from Dec 13 low ($67.70) into fifth consecutive day.
Growing tensions on several attacks on ships in the Red Sea, which prompted major shipping companies to reroute, added to…
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Stronger than expected drop in UK inflation adds to bets of BoE rate cuts in 2024
British inflation eased below expectations in November and hit the lowest level in over two years, adding tailwinds to the bets that the Bank of England will start cutting interest rates next year.
The annualized consumer prices index…
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GBPUSD was deflated by softer than expected UK November inflation data
Cable dropped on Wednesday morning on softer than expected UK November inflation, losing around 0.4% after data release.
Stronger than expected drop in consumer prices adds support to rate cut scenario, making pound less attractive,…
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Yen loses ground on unchanged BOJ
USDJPY was sharply up during the late Asian / European session on Tuesday (up 1.3% so far) in strong acceleration after dovish Bank of Japan deflated yen.
The central bank kept its ultra-loose monetary policy unchanged and maintained …
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Bank of Japan keeps its ultra-loose monetary policy unchanged
The Bank of Japan has opted to maintain its ultra-loose monetary policy settings in a widely anticipated decision.
At the recently concluded two-day meeting, the BOJ kept its short-term rate target at -0.1% and maintained the target for…
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AUDUSD – bulls hold grip but risk of rally’s stall persists
Bulls regained traction after brief pause on Friday, shaped in a long-legged Doji candle and probe again through important Fibo barrier at 0.6713 (50% retracement of 0.7157/0.6270 downtrend).
Clear break of this level…
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Dollar index – limited correction likely to precede fresh weakness
The dollar index is struggling to extend recovery from last week’s 1.7% drop, with the action being repeatedly capped by broken Fibo support at 102.19 (61.8% of 99.20/107.03) which reverted to solid resistance.
Dollar’s sentiment…
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