EURUSD – extended pullback is pressuring pivotal supports
EURUSD keeps negative tone in the first trading day of 2024 and extends pullback from a multi-month high (1.1139) into third consecutive day.
Break through initial support at 1.1041 (Fibo 23.6% of 1.0723/1.1139 upleg) extended through…
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AUDUSD hits fresh 5-month high
AUDUSD continues to trend higher and hit its highest point in five months, during European trading on Wednesday.
Lift above the upper boundary of a larger bull channel generated bullish signal which was reinforced by Tuesday’s close…
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US inflation eases further below 3% in November – PCE
US inflation, as measured by the personal consumption expenditures price index, fell 0.1% last month after being unchanged in October,
while annualized PCE price index increased 2.6% after rising 2.9% in October, when it fell below 3%…
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EURUSD – bulls probe again above 1.10 barrier; US inflation data eyed for fresh signals
EURUSD keeps firm tone on Friday and probes through Nov 29 peak at 1.1017, following Thursday’s 0.65% advance, which registered the first daily close above psychological 1.10 barrier since early August.
Fresh sales of the US dollar ahead…
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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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