EU services PMI comes slightly better in November, but risk of recession persists
The latest survey on euro zone business activity suggests that while the downturn in business activity has eased, it still indicates that the bloc's economy is likely to contract again in the current quarter. This is particularly attributed…
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Reserve Bank of Australia left interest rates unchanged in December
The Reserve Bank of Australia has decided to keep interest rates steady at its December policy meeting, maintaining the cash rate at a 12-year high of 4.35%.
This decision was in line with market expectations, allowing the central bank…
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EURUSD – bears tighten grip and crack pivotal supports
Bears returned fully to game on Monday after Friday’s brief pause on Fed Powell’s remarks, pushing the Euro to the lowest in three weeks.
The pair slid over 0.5% until mid-US session and cracked pivotal support at 1.0818 (200DMA),…
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Fed to proceed cautiously with interest rates as recent measures show satisfying results –…
US Federal Reserve Chairman Jerome Powell, in his speech last Friday, said that the risks of slowing the economy too much versus not raising interest rates enough to control inflation have become more balanced, indicating the Fed's…
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WTI OIL price falls further on growing demand uncertainty
WTI oil price fell further and hit two-week low on Monday, as fresh weakness after last Thursday’s strong upside rejection and bull-trap above 200DMA extend into third straight day.
Last week’s recovery attempt stalled as markets were…
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Gold hit new all-time high, bullish bias above $2000
Gold spiked to new record high above $2100 in early Monday, in reaction to the comments from Fed Chair Powell on Friday, who said that current level of interest rates is sufficient to complete the task in putting inflation under control and…
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EURJPY – completion of failure swing pattern to signal deeper pullback
EURJPY remains in red and holding near three-week low on Friday, on track for the first weekly loss in five week and the biggest drop since the second week of March.
Initial signal of larger rally stall was also generated by November’s…
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EURGBP – steep fall extends below thick daily Ichimoku cloud
EURGBP continues to trend south and hit new 3 ½ month low on Friday, in extension of steep and uninterrupted downtrend from 0.8765 (Nov 16 peak).
The pair is on track to complete the second week of heavy losses, after November’s close in…
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EURUSD stands at the back foot ahead of Fed Powell’s speeches
EURUSD was a tad higher on Friday morning following nearly 0.8% drop on Thursday, when the Euro was deflated by soft EU inflation numbers which may add to ECB’s dovish stance in the near future.
Additional pressure came from stronger…
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Oil price extends advance as OPEC+ rolls over production cuts
WTI oil price rose above $79 for the first time in two weeks on Thursday, as fresh bullish acceleration extends into third consecutive day.
The OPEC+ decided to extend its supply cuts in 2024, as the cartel met today, after meeting…
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