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DXY: The DXY (US Dollar Index) chart currently displays an overall bearish momentum which is highlighted by the bearish channel. In this context, there is a potential scenario for price to make a bearish continuation towards the 1st support. The 1st support level at 102.07 is identified as a pullback support that aligns with the […]

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18/04/2024

EUR/GBP: Looks for Fresh Direction Signal

EURGBP dips in early Thursday’s trading, after a double upside failure at falling 100DMA (0.8572), the lower boundary of strong resistances at 0.8580 zone (including Fibo 38.2% of 0.8714/0.8498 downtrend and a multiple spike highs). Sterling regained ground after being deflated by UK CPI data and dovish steer from BoE chief Bailey on Wednesday, though […]
05/07/2024

Canada’s Job Market Softens Further in June

Canadian employment was essentially unchanged in June (-1.6k), disappointing expectations for a modest 25k gain. Job losses were once again in full-time positions (-3.4k), while part-time jobs rose only slightly (1.9k). As a result, the unemployment rate rose two tenths to 6.4%, thanks to healthy growth in the labour force (+40.4k). However, that was not […]
31/01/2024

A Dovish Fed Guidance May Not Reverse the Rout in China and Hong Kong Stock Markets

China and Hong Kong benchmark stock indices have almost erased last week’s gains. NBS Non-Manufacturing PMI sub-components for January are indicating feeble service activities in China. A weaker US dollar via a dovish forward monetary policy guidance from the Fed is not enough to act as a bullish catalyst for China and Hong stock markets. […]