Month: October 2021

USD/TRY sellers take a breather following two-day downtrend. Overbought RSI, SMA breakdown signals further pullback. Seven-week-old support line challenges the bears, bulls eye record top. USD/TRY seesaws near $9.5430-25, keeping the previous day’s 5-DMA breakdown ahead of Wednesday’s European session. The Turkish Lira (TRY) pair dropped during the last two days after refreshing the all-time
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100 hour MA at 0.74923 The AUDUSD  successfully tested its 100 hour moving average in the European morning session and bounced. The bounce took the price up to test a swing area between 0.7511 and 0.7522 ahead of the high from last week at 0.75457. That high was the highest level since July 6. The move back to
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TOKYO: prices fell on Wednesday after industry data showed crude oil stockpiles rose more than expected and fuel inventories unexpectedly increased last week in the United States, the world’s largest oil consumer. Brent oil futures fell 25 cents, or 0.3%, to $86.15 a barrel after closing at the highest in seven years on Tuesday. West
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Economist David Rosenberg suggests hyperinflation warnings are irrational. The longtime bear, known for his contrarian views, blames rising prices on Covid-19-induced supply side shocks. According to Rosenberg, it’s wrong to assume the impact will cripple the economy and feed into runaway inflation. “I’m actually rolling my eyes over the suggestion,” the president of Rosenberg Research
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US Senate Democratic Leader Chuck Schumer said on Tuesday that Democrats are continuing to make progress on US President Joe Biden’s economic plan, as reported by Reuters. “I remain confident a deal is within reach on the large domestic investment bill,” Schumer added. Market reaction Risk flows continue to dominate the financial markets following these
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US October 2021 consumer confidence data Prior was 109.3 Details: Expectations 91.3 vs 86.6 prior Present situation 147.4 vs 143.4 prior Jobs hard to get 10.6 vs 13.4 prior There was a 13-year high in short-term inflation expectations. Notably along with that was a rise in intentions to buy big-ticket items. That suggests that people
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