US consumer spending and inflation slow in October
US consumer spending increased moderately in October, rising by 0.2%, following a more substantial 0.7% gain in September. Consumer spending is a significant contributor to US economic activity, representing over two-thirds of the total.…
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Eurozone inflation drops more than expected in November
Eurozone inflation experienced a more significant decline than expected, falling from 2.9% in October to 2.4% in November. This drop was below the anticipated 2.7%, with almost all items contributing to the decline, except for unprocessed…
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GBPUSD – bulls loosen grip ahead of key US data
Cable eases from new three-month high in European trading on Thursday, as daily Doji candle on Wednesday signaled indecision and overbought daily studies prompted a partial profit-taking.
Failure to register a daily close above 1.2719…
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GOLD – bulls are pausing but hold grip for fresh acceleration higher
Gold prices eased from new highest level in over six months on Wednesday as investors collected some profits from the latest acceleration in past four days.
Overbought daily studies also contributed to such decision, although dips were…
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US economic growth accelerated in the third quarter
The US economy grew faster than expected in the third quarter of 2023, with the Gross Domestic Product increasing at an annualized rate of 5.2%, revised up from the initially reported 4.9% and beating 5.0% forecast This growth rate was the…
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USDJPY – bears are consolidating for fresh push through daily cloud base
USDJPY bounces from new ten-week low on Wednesday, as bears faced headwinds on probe through the base of daily cloud (147.38) and from 100DMA (146.97).
Fresh jump was sparked by dovish comments from BoJ policymaker, who said that it is…
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EURGBP falls to six-week low
EURGBP remains in red for the fifth consecutive day and fell to the lowest I six weeks on Wednesday.
The pair is trending lower within thick daily cloud, as break of pivotal supports at 0.8661 (Fibo 38.2% of 0.8492/0.8765) and 0.8650…
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EURUSD – bulls are taking breather after cracking psychological 1.10 barrier
EURUSD is consolidating under new multi-week high on Wednesday, after bulls cleared pivotal Fibo resistance at 1.0959 (61.8% of 1.1275/1.0448 downtrend) and cracked psychological 1.10 barrier.
The Euro received fresh support from…
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EURUSD – Pivotal barrier under increased pressure, economic data eyed for fresh signals
EURUSD remains steady and holding near 3 ½ month high on Tuesday, with little impact from weaker than expected EU economic data.
Bulls continue to pressure cracked Fibo resistance at 1.0559 (61.8% of 1.1275/1.0448, which proved to be…
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GOLD holds above $2000 on weaker dollar, dovish Fed
Gold price is establishing above broken psychological $2000 barrier on Monday and hit the highest in over six months.
Fresh probe above $2000 and break above former top of Oct 27 ($2009) contribute to bullish near-term outlook.
Close…
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