Cable bounces on upbeat UK data but still lacks direction signals on conflicting technical studies
Cable jumped around 0.4% in European trading on Wednesday, lifted by above forecast UK December inflation data, which soured the sentiment about rate cut, pushing percentage of bets for rate cut by May significantly lower.
Fresh gains…
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UK inflation unexpectedly rises in December
Britain's annual rate of consumer price inflation rose for the first time in 10 months in December, reaching 4.0% compared to a more-than-two-year low of 3.9% in November.
The increase exceeded the consensus forecast for a 3.8% rise.…
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China will need to further stimulate economy to accelerate growth – GDP
China's economy grew by 5.2% in 2023, slightly exceeding the official target, however, the recovery was more uncertain than anticipated, with a range of issues affecting economic stability.
A deepening property crisis has become a…
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German economy is expected to barely grow in 2024
German BDI industry association expects the German economy to grow by only 0.3% in 2024. This is a minimal growth projection compared to the anticipated global economic expansion of 2.9%.
According to the BDI president, the German…
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Euro loses ground, key supports under increased pressure
The Euro accelerated lower in Europe, shifting near term focus to the downside after a double failure at psychological 1.10 barrier.
Fresh bears pressure pivotal Fibo support at 1.0875 (38.2% retracement of 1.0448/1.1139, reinforced by…
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UK wage growth continues to slow, easing pressure on BoE
British wages experienced the slowest pace of growth in almost a year, according to data released on a Tuesday.
The growth in wages, excluding bonuses, slowed for the third consecutive release, reaching an annual rate of 6.6% in the…
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Dollar index- firmer tone keeps in play hopes for test of near-term range top
The dollar index keeps positive tone in holiday-thinned Monday’s trading and attempting again through pivotal Fibo barrier at 102.27 (50% retracement of 104.27/100.29 bear-leg), where the action failed several times recently.
Sustained…
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Bitcoin – slight bullish bias above daily cloud but key supports remain at risk
Bitcoin keeps slight bid in early Monday’s trading, after sharp fall in past few sessions, as daily studies are oversold, and fresh bears faced strong headwinds from rising daily cloud (top of the cloud lays at 41311).
Bitcoin spiked…
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Oil price rises on fresh geopolitical tensions, but gains were so far limited
WTI oil price rose 3% in European session on Friday and probed above $75 barrier for the first time in two weeks, inflated by fresh fears that conflict in the Middle East could spread after US and British armies attacked positions of…
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China’s exports rose above expectations but persisting deflation warns
China's exports grew by 2.3% year-on-year in December, surpassing expectations and showing an improvement from the 0.5% increase in November.
Imports also increased by 0.2% year-on-year in December, reversing a 0.6% drop from the…
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