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…
Read More...
Read More...
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…
Read More...
Read More...
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…
Read More...
Read More...
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,…
Read More...
Read More...
Yen loses ground on unchanged BOJ
USDJPY was sharply up during the late Asian / European session on Tuesday (up 1.3% so far) in strong acceleration after dovish Bank of Japan deflated yen.
The central bank kept its ultra-loose monetary policy unchanged and maintained …
Read More...
Read More...
Bank of Japan keeps its ultra-loose monetary policy unchanged
The Bank of Japan has opted to maintain its ultra-loose monetary policy settings in a widely anticipated decision.
At the recently concluded two-day meeting, the BOJ kept its short-term rate target at -0.1% and maintained the target for…
Read More...
Read More...
AUDUSD – bulls hold grip but risk of rally’s stall persists
Bulls regained traction after brief pause on Friday, shaped in a long-legged Doji candle and probe again through important Fibo barrier at 0.6713 (50% retracement of 0.7157/0.6270 downtrend).
Clear break of this level…
Read More...
Read More...
Dollar index – limited correction likely to precede fresh weakness
The dollar index is struggling to extend recovery from last week’s 1.7% drop, with the action being repeatedly capped by broken Fibo support at 102.19 (61.8% of 99.20/107.03) which reverted to solid resistance.
Dollar’s sentiment…
Read More...
Read More...
EURUSD regains traction but recovery faces strong headwinds
EURUSD found a footstep and firmed on Monday after 0.9% drop last Friday, following a double failure at psychological 1.10 barrier.
However, recovery is unlikely to extend much as near-term action is weighed by much weaker than expected…
Read More...
Read More...
GBPUSD constructive above daily Tenkan-sen but double top weighs
Early Monday’s action is holding within a narrow consolidation following Friday’s 0.6% pullback which left a double-top (1.2793/90).
Cable remains constructive above daily Tenkan-sen (1.2647) but needs to clearly break above cracked Fibo…
Read More...
Read More...