Cable fell to new multi-month low (the lowest since May 26) early Tuesday, hit by softer than expected UK inflation readings in August. Annualized CPI dropped to 6.7% (the lowest since Feb 2022) from 6.8% in July and beating forecast for 7.0% increase, while core inflation (excluding volatile components) was down to 6.2% y/y in August, compared…

EURUSD is trading within a narrow range during European session on Tuesday, following strong rebound in past two days after larger bears were rejected at key support at 1.0635 (May 31 low). Technical picture remains increasingly bearish on daily chart (rising negative momentum / MA’s in full bearish setup) and warn that corrective action might…

The dollar index remains steady and holding within a narrow range just under 6-month high on Monday. Larger picture shows near-term action moving in the sideways mode for the third consecutive week, as bulls faced strong headwinds on approach to key barriers at 105.13/47 (Fibo 38.2% of 114.72/99.20 / base of thickening daily Ichimoku cloud.…

Gold retested key near-term barrier at $1930 on Monday, but was so far unable to break higher, following recent triple rejection at this level, where 55DMA repeatedly capped attacks. Renewed strength after last week’s double upside failure and subsequent pullback to $1900 signals that bulls hold grip, but with persisting downside risk while the…

USDJPY keeps firm tone and holds within a narrow range just under new multi-month highs (147.87/95) in European trading on Monday. Today’s quiet mode is mainly due to lower volumes as Japan is shut for holidays, while traders became more cautious ahead of two key events this week – US Federal Reserve and Bank of Japan policy meetings. The Fed…

WTI oil price new highest in more than ten months in early Monday, in extension of last week’s 4.4% advance. Several factors continue to fuel strong bullish sentiment, with decision of Saudi Arabia and Russia to extend their additional production cut in the fourth quarter, being the main contributor to tight supply outlook towards the end of the…

GBPUSD bears slowed on Friday but hold grip and point to further weakness, following a 0.6% drop on Thursday. Adding to negative signals was break below 200 DMA (1.2431) for the first time since early March, with Friday’s close below it, to reinforce bearish structure. Fresh extension lower probed below 1.2400 handle after 3 ½ months, eyeing…

Bulls regained control and are on track to fully retrace a pullback sparked by comments of BoJ Governor Ueda about possible change in monetary policy. Positive impact on yen was short-lived as dollar remains well supported despite threats of Japan’s intervention. Firmly bullish daily techs underpin the action which looks for the fourth…