Oil price tumbles on OPEC news
WTI oil price was sharply down on Wednesday (4.1% until early US session), deflated by the news that OPEC+ group delayed their meeting scheduled for Nov 26 to Nov 30.
The cartel is widely expected to extend its supply cut into next year,…
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AUDUSD – consolidation likely to precede fresh push higher
AUDUSD is holding within a near-term sideways mode after larger rally stalled at strong resistance zone at 0.6582/87 (50% of 0.6894/0.6270 / 200DMA) but subsequent weakness was short-lived as Aussie dollar received fresh support from…
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Fed policymakers agreed on more cautious policy mode – FOMC minutes
US Federal Reserve policymakers decided to proceed carefully with interest rates and opt for further increase in borrowing cost only if progress in controlling inflation slows, minutes of the latest policy meeting showed.
The Fed…
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EURUSD -bulls hold grip ahead of FOMC minutes
EURUSD continued to benefit from growing expectations of an end of Fed’s tightening cycle and talks about rate cuts and hit new multi-week high on Tuesday.
Fresh extension higher cracked important Fibo resistance at 1.0959 (61.8%…
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Dollar remains under pressure on rate outlook
The dollar index remains firmly in red and trading at eleven-week low on Monday, after falling nearly 1.9% last week.
The greenback was sold on fresh signals that the Fed is likely done with rate hikes and may start to ease its monetary…
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USDJPY – bears increase pace and penetrate rising daily cloud
USDJPY remains under increased pressure on Monday and extends steep bear-leg from 151.43 lower top into third straight day.
Last week’s close below psychological 150 level generated initial bearish signal which was boosted by today’s…
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AUDUSD – bullish bias above daily cloud
AUDUSD regained traction on Friday and recovered a good part of Thursday’s pullback, offsetting initial signals of reversal pattern formation on daily chart.
Short-lived dip was contained by the top of descending daily Ichimoku cloud,…
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EURUSD holds in prolonged sideways mode but bulls still hold grip
EURUSD remains in a sideways mode for the third straight day but narrow consolidation under new multi-week high signals that near-term action is bullishly aligned.
The pair is on track for the biggest weekly gain since early July and…
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USDJPY – the dollar came under increased pressure on hints of earlier than expected Fed rate…
USDJPY came under increased pressure on Friday and extends weakness into second consecutive day, establishing well below psychological 150 level, now acting as good resistance.
The dollar was deflated by signals that the Fed is likely…
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Eurozone inflation slows sharply in October
Inflation in the Eurozone slowed sharply in October, driven lower mainly by a sharp fall in energy prices.
On the other hand, increased prices in the services sector, bloc economy’s largest part and more expensive food, alcohol and…
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