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- AUDNZD extends its downside momentum following the RBNZ’s hawkish rate cut
- USDJPY pulls back following verbal intervention signals
- Gold drops sharply as expectations for a Fed rate cut in December continue to cool
- BTCUSD continues its sharp decline, plunging decisively below the key psychological support at $100,000
- EURJPY surges to a new record high, but intervention risks loom large
- Gold pauses after recent surge, but bullish momentum stays intact above $4100
- EURGBP poised to resume its uptrend following a brief corrective pullback
- USDJPY climbed to a fresh multi-month high, but prospects of potential FX intervention keep traders cautious
- USD Index extends losses amid rising rate-cut expectations and firmer gold prices
- EURUSD makes another attempt to break through key Fibonacci resistance
Gold Drops Sharply on China News, NFP in Focus
During European trading on Friday, the price of gold experienced a sharp decline following news that China’s central bank had halted gold purchases last month after acquiring the yellow metal for 18 consecutive months.
The…
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USD/CHF at Multi-Week Low, Breaching Key Supports Ahead of US Jobs Data
USD/CHF remains on the back foot, hitting a new multi-week low early Friday as markets await the release of the US jobs report for May.
The recent bearish move from 0.9158 (the lower top on May 24) has found solid support in the…
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ECB Delivers Its First Rate Cut Despite Persistent Inflation
The European Central Bank delivered its first interest rate cut since 2019 today, signaling progress in its ongoing effort to bring inflation down to its 2% target, while acknowledging that the battle is far from over.
The ECB…
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GBP/USD – Extended consolidation expected before a fresh push higher
Cable is consolidating just below a new multi-week high of 1.2817, with near-term action supported by the rising 10-day moving average (1.2758) and poised for a fresh push higher to challenge the 2024 high of 1.2893.
Daily moving…
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EUR/USD – Bulls maintain control ahead of key event: ECB policy decision
The Euro edged higher on Thursday morning, partially reversing a two-day pullback from a new multi-week high at 1.0915. However, today's action has been choppy and directionless as traders await the European Central Bank's (ECB)…
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US Dollar Index – Reversal pattern forming on daily chart as strong US Services PMI data lend fresh…
The dollar index surged on Wednesday, driven by much stronger than expected US services PMI data (May 53.8 vs 51.0 forecast and April 49.4). This data indicated a return to growth in the services sector, with the May figure reaching a…
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Gold – crucial economic events this week to offer new direction signals
Gold prices edged higher early Wednesday, rebounding from the lower boundary of their near-term range. However, the metal remains directionless as markets await fresh cues from key economic events this week.
Conflicting…
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WTI oil continues its sharp decline amid rising demand worries
WTI oil prices remain in a steep decline for the fifth consecutive day, falling over 1% and hitting a new four-month low in early Tuesday trading. This follows a 3.8% drop on Monday, the largest daily fall since November 16.
The market…
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AUD/USD: Bulls Reclaim Control Following a Healthy Correction
AUD/USD is on the front foot this Monday, extending its advance into a third consecutive day and pressuring the pivotal barrier at 0.6680, the recent range ceiling.
This fresh strength enhances the near-term outlook, supported by the…
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EUR/USD Declines on Reduced Demand as Markets Await ECB Decision
The Euro began losing traction in European trading on Monday, building on the initial warning from Friday’s daily candle, which featured a long upper shadow formed after a strong upside rejection.
The initial signal of the two-day…
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