Gold stands at the back foot ahead of key events – US inflation report and Fed policy meeting
Gold remains in red for the second consecutive day and fell below $2000 early Monday, pressured by firmer dollar on solid US labor data.
Friday’s 1.2% drop generated fresh bearish signal on close below $2015 pivot (Fibo 38.2% of…
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Dollar keeps firm tone and attempts again through pivotal barriers at 104.10 zone
The dollar index remains constructive at the start of the week, following Friday’s jump on robust US November labor data.
The greenback benefited from higher than expected US NFP and unemployment below consensus in November, which…
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US job growth likely picked up in November – NFP
US job growth is anticipated to have picked up in November, particularly with the return of thousands of automobile workers and actors after strikes, however, the underlying trend suggests a cooling labor market.
The upcoming employment…
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EURCHF falls to new multi-year low on signals of early ECB rate cuts
EURCHF hit new multi-year low on Thursday, in extension of steep fall from a double-top at 0.9680 zone (tops of Nov 14/21).
The pair was deflated by growing expectations for more aggressive rate cuts by the ECB next year, while the Swiss…
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China’s exports grew in November for first time in six months
China's exports grew by 0.5% from a year earlier in November, expanding for the first time in six months, suggesting that Chinese factories are attracting buyers through discount pricing to overcome a prolonged slump in demand.
Imports,…
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Japanese yen surges on signals that BOJ is about to exit its ultra-loose policy
USDJPY accelerated lower (down 1.4% in Asian/early European session) on Thursday, driven by growing market expectations that the Bank of Japan will soon start exiting its long lasting ultra-low monetary policy, which strongly boosts demand…
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Bank of Canada holds rates, but remains concerned about inflation
The Bank of Canada decided to keep its key overnight rate at 5%. This follows two rate hikes in June and July, bringing it to a 22-year high. The rates have been on hold in the three policy-setting meetings since then.
Despite…
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US private payrolls fall below expectations in November – ADP
Private payrolls in the United States increased by 103,000 jobs in November, the ADP National Employment Report showed.
Last month’s figure fell short of expectations for 130,000 jobs added, indicating a slower pace of job creation,…
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WTI OIL – bears hold grip on demand concerns, OPEC+ decisions
WTI oil price fell below $72 on Wednesday and trading at the lowest levels in five months.
Bear-leg from $79.57 (Nov 30 peak) extends into fifth straight day, as decision of OPEC+ to extend production cuts and further reduce output from…
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Cable – limited correction likely to precede fresh rise, US labor data in focus
Cable is holding within a tight range on Wednesday morning, as two-day pullback found a footstep on broken Fibo support at 1.2585, though stronger dollar and weaker than expected UK data continue to sour the sentiment.
Traders await…
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