EURUSD stands at the front foot ahead of ECB policy decision
The Euro stands at the front foot on Thursday, supported by weaker dollar, which got under increased pressure after the Fed signaled and end of a tightening cycle and rate cuts in 2024.
Extended recovery from 1.0723 (correction low) hit…
Read More...
Read More...
Dollar index hits 4-month low, deflated by dovish Fed
The dollar index remains firmly in red and holding near fresh four-month low in early trading on Thursday, following post-Fed 1.2% fall on Wednesday (the biggest daily drop since Nov 14).
The greenback was deflated by signals that the…
Read More...
Read More...
Fed likely to hold rates steady and possibly signal small decline in 2024
The Federal Reserve is widely expected to keep interest rates unchanged for a third consecutive time.
However, there is an anticipation that the central bank will signal a cautious approach to any future monetary policy easing,…
Read More...
Read More...
Turkish lira fell to new record low vs dollar
USDTRY hit new record high in the latest acceleration above 29 mark, signaling resumption of larger uptrend which was paused for a narrow consolidation in past two weeks.
Lira continues to trend lower despite recent U-turn in CBRT’s…
Read More...
Read More...
WTI oil hits the lowest levels in nearly six months ahead of FOMC decision
WTI oil price hit new multi-month low on Wednesday morning, in extension of Tuesday’s nearly 4% drop which fully reversed recovery of past three days.
Larger bears regained full control after limited correction and signal continuation of…
Read More...
Read More...
UK economy contracts in October
The data released on Wednesday indicate that the UK economy contracted in October, with gross domestic product falling by 0.3% from September.
This marks the first month-on-month contraction since July, contrary to expectations for no…
Read More...
Read More...
Cable remains constructive above 200DMA but more action at the upside needed to confirm
Cable edged lower on sub-forecast Uk November earnings which adds to talks about possible rate cuts, although the BoE signals that cuts are still not on the table, with hawkish hold expected on Thursday’s policy meeting.
Near-term…
Read More...
Read More...
WTI OIL – Recovery is likely to be limited as demand concerns continue to sour the sentiment
Bounce from Dec 7 low at $68.79 (the lowest since late June) seems to be running out of steam as recovery faces strong headwinds from initial Fibo resistance at $71.33 (23.6% of $79.57/$68.89) and unable to register clear break higher for…
Read More...
Read More...
AUDUSD holds in extended sideways mode, awaiting key economic releases for direction signals
AUDUSD eases further on Monday and breaks below 200DMA which marks approximately the mid-point of 0.6525/0.6620 congestion, in which the pair is holding for the fifth straight day.
Near-term action lacks clear direction signal while…
Read More...
Read More...
USDJPY extends advance on fresh dovish comments from BoJ
Bounce from last Thursday’s multi-month low and a bear-trap, extends into second consecutive day and accelerates on Monday.
The dollar benefited from stronger than expected US jobs data in November, which shifted the view about rate cuts…
Read More...
Read More...