Cable rises on better than expected UK PMI data
Bulls regained control on Thursday after better than expected UK PMI data (services and composite rose above 50 threshold which divides contraction from growth and manufacturing sector performed better than expected) brightened the outlook…
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Gold remains underpinned by weaker dollar but still facing strong headwinds from $2000 barrier
Gold remains constructive and holding near $2000 barrier on Thursday after Tue/Wed double failure to register daily close above this level.
Increased headwinds in this zone were anticipated, but shallow dips point to strong bids and keep…
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EURUSD – bulls are pausing for consolidation
EURUSD regained traction early Thursday and reduced downside risk, as two-day pullback was strongly rejected on Wednesday.
Technical studies are mixed on daily chart as bullish momentum is fading while moving averages remain in bullish…
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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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