US employers hired more than expected in December, wage growth remains solid
US Nonfarm payrolls increased by 216,000 jobs in December, surpassing expectations, while November figure was revised lower to show payrolls rising 173,000 instead of the initially reported 199,000. Economists had expected an increase of…
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Euro zone inflation rises in December and partially cools expectations for rate cuts
Eurozone inflation increased to 2.9% in December from 2.4% in November, just below the expectation of a 3.0% reading. This supports the European Central Bank's (ECB) decision to keep interest rates at record highs for some time.
The rise…
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USDJPY – completion of reversal pattern adds to upside potential
Strong three-day recovery completed the three white soldiers reversal pattern on daily chart, adding to upside potential, as 14-d momentum in steep ascend broke into positive territory and RSI is heading north.
Bulls broke and extended…
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US private payrolls rise above expectations in December – ADP
The ADP National Employment Report, released on Thursday, showed that US private employers added 164,000 jobs in December.
This figure exceeded expectations and marked the largest monthly increase since August.
The data for November was…
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Eurozone business activity remained subdued in December, raising fears of recession
Persistent downturn in the dominant services industry signals that contraction in euro zone business activity continued and indicates the bloc's economy was in recession.
Eurozone Composite Purchasing Managers' Index (PMI) was revised…
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Gold regains traction but more evidence needed to signal reversal
Gold price edged higher on Thursday morning, after a four-day pullback from $2088 (Dec 28 high) found a footstep at $2030 (50% retracement of $1973/$2088 upleg).
This points to initial signal of a healthy correction of larger uptrend, as…
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Crude oil price rises further on growing supply concerns
WTI oil price rose further in early Thursday’s trading, in extension of 3.5% rally on Wednesday, the biggest daily gain since Nov 17.
Worsening fundamentals on closure of one of the largest oil fields in Libya and increased tensions…
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Fed minutes expected to give more clues about rate cut trajectory
The Federal Reserve's stance on interest rates is a significant point of uncertainty as we enter 2024. The latest details on this matter may emerge from the readout of the last policy meeting of 2023, which took place in mid-December.…
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Bitcoin rallied to new multi-month high in the first trading day of 2024
Bitcoin started 2024 trading with gap-higher opening and surged near $46000, the highest levels since April 2022.
Fresh rally was sparked by growing optimism that US securities regulator would soon approve exchange traded spot bitcoin…
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Dollar index – bears pause for correction, EU inflation and US labor reports eyed for fresh…
The dollar index accelerated higher on the first trading day in 2024, extending bounce from five-month low of Dec 28 (100.30) into third consecutive day.
Traders collected some profits from the broader downtrend, pushing the dollar’s…
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