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EUR/USD, H4 The Euro remains in a holding pattern as investors await crucial monetary policy decisions from the European Central Bank later this week. Anticipated to maintain steady interest rates, the ECB faces the challenge of easing inflation. ECB Vice President Luis de Guindos emphasises the need for more data on Eurozone inflation, currently at 2.6%, before...

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GBP/USD, H4 The Pound Sterling maintains a positive trajectory, supported by an optimistic economic outlook articulated by UK Prime Minister Rishi Sunak. Sunak emphasized that the UK economy is on the right track, hinting at potential tax cuts in the upcoming budget. Despite the lack of clarity on budget details, investors are advised to vigilantly monitor...

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XAU/USD, H4 Gold prices have undergone a significant rally, approaching the historic high at $2146.80. The surge is fueled by market sentiment speculating on the potential for the Federal Reserve's first rate cut in June. Investors eagerly await cues from both Wednesday's testimony by Powell and Friday's Non-Farm Payrolls report to assess the likelihood of a...

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DOLLAR_INDX, H4 The Dollar Index hovered within a remarkably tight range as investors braced for significant events in the week ahead. All eyes are on the Federal Reserve Chair, who is scheduled to testify before Congress. Market participants widely speculate that the Fed Chief will emphasise the central bank's commitment to its monetary tightening stance. The...

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DOLLAR_INDX, H4 The Dollar Index faced a decline last Friday as the market's risk sentiment underwent a shift. Discouraging ISM manufacturing PMI readings weighed on the dollar, prompting investors to sell the currency and turn their attention to riskier assets. Throughout the upcoming week, several members of the Federal Reserve are scheduled to deliver...

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USD/JPY, H4 USD/JPY experiences uncertainty due to mixed monetary policy statements from Bank of Japan members. While Hajime Takata signals a potential exit from ultra-loose policy with the inflation target in sight, Governor Kazuo Ueda provides a contradictory view, emphasising the need for confirmation in a positive wage-inflation cycle. This mixed sentiment...

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AUD/USD, H4 AUD/USD remains range-bound amid a weakening US Dollar, providing support for the pair. However, the Australian dollar faces challenges due to lower-than-expected economic performance in Australia. Consumer price inflation in January stagnates at a two-year low, contributing to expectations of unchanged interest rates. Investors await crucial...

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EUR/USD, H4 The EUR/USD pair has discovered a support base around 1.0800 levels, initiating a rebound and making strides to surpass its prior high. The surge is predominantly attributed to the dollar's depreciation, prompted by lacklustre U.S. PMI readings that led investors to shed dollar positions. Attention is now firmly fixed on the European Central Bank's...

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GBP/USD, H4 GBP/USD staged a rebound from support levels amid a weakening US Dollar, triggered by disappointing ISM Manufacturing PMI data. Despite recent economic challenges, certain Fed members maintain a hawkish stance. San Francisco Fed President Mary Daly cautions against hasty rate cuts, emphasising potential risks to economic performance. Concurrently,...

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XAU/USD, H4 Gold prices experienced a substantial surge, reaching their highest level since December. The weakened dollar, influenced by the latest PCE reading aligning with market expectations and lower than the previous figure, contributed to the bullish momentum in gold. Investors closely monitored the ongoing ceasefire talks in Cairo, Egypt, amidst...

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CL OIL, H4 Oil prices face resistance and fail to break above crucial levels due to a lack of market catalysts amid global economic uncertainties. Downbeat economic data from both the US and Eurozone contribute to a dimmed global economic outlook. Additionally, Eurozone inflation dips further, adding to the prevailing uncertainties in the oil market. Oil prices...

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USD/JPY, H4 The Japanese yen experiences initial surges in Asian trading hours following indications from Bank of Japan policymakers hinting at an eventual exit from ultra-easy policies. The central bank sets its sights on achieving the long-sought 2% inflation goal, contemplating a shift in its easing monetary policy later this year. However, market scepticism...

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AUD/USD, H4 The Australian dollar recently faced a notable decline, breaking a bearish pattern due to a strengthening U.S. dollar. However, a positive turn occurred with the release of better-than-expected Chinese PMI data, indicating an improved economic performance in China. This positive news provided support for the Australian dollar, allowing it to recover...

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EUR/USD, H4 The EUR/USD pair has pulled back from its technical rebound observed in the previous session but found support at the 1.0800 level. The U.S. dollar strengthened following the release of the U.S. Personal Consumption Expenditures (PCE) index, which aligned with market expectations, hinting that a Federal Reserve rate cut might not be imminent. This...

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GBP/USD, H4 The GBP/USD currency pair has wiped out all the gains it made from the previous session's rebound, indicating that it is currently exhibiting bearish momentum. The U.S. Personal Consumption Expenditures (PCE) index, meeting market expectations at 2.4%, signals that inflation remains persistent in the country. Concurrently, the broader market...

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XAU/USD, H4 Gold prices stage a rebound as downbeat US economic data prompts investors to seek refuge in dollar-denominated gold. The focus shifts from subdued US inflation expectations to escalating geopolitical tensions in the Middle East, rekindling the safe-haven appeal of the precious metal. Gold prices are trading higher following the prior breakout above...

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DOLLAR_INDX, H4 The Dollar Index maintains a steady position as the US Core PCE Price Index registers a decline to 2.4% on a yearly basis in January, in line with market projections. Despite the dip, the impact on the Dollar's performance against other currencies is limited, as attention turns to additional economic indicators, including disappointing Initial...

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USD/JPY, H4 28 February 2024 The Japanese Yen experienced a boost from its positive CPI data released yesterday, although the initial momentum has tapered, leaving the currency pair in a consolidation phase at recent highs. The upcoming release of U.S. GDP data later today is highly anticipated, poised to be a significant economic indicator that could steer the...