Inflation Report 2023: UK’s Soaring Inflation Rate Triggers Concerns and Economic Challenges
The latest inflation report highlights the UK's anticipated role as a frontrunner in the inflation rate race among advanced economies. According to the data, the inflation rate in the UK is projected to outpace its counterparts, raising concerns and shedding…
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EUR/USD Falters to Gain Momentum Below 1.0800 Amidst Weaker US Dollar
The EUR/USD falters to gain momentum below 1.0800, however the pair exhibited resilience as it closed above the 20-day Simple Moving Average (SMA) for the first time in a month. This bullish signal sparked optimism among traders, with the SMA…
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Gold Prices Rise as US Dollar Weakens on Jobless Claims Surge, XAU/USD Eyes Bullish Engulfing
Gold prices experienced a remarkable rally on Thursday, driven by the weakening US Dollar and an unexpected surge in jobless claims. The precious metal soared by 1.3 percent, marking its best single-day performance since May 2nd. This surge coincided with…
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Mastering the Breakout Trading and Retracement Strategy: A Comprehensive Guide
Introduction In the fast-paced and ever-evolving world of financial markets, traders are constantly seeking effective strategies to capitalize on price movements and generate consistent profits. One popular approach that has stood the test of time is breakout trading. This strategy…
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Bank of Canada Raises Interest Rates by 25bps, USD/CAD Falls as Demand Skyrockets
The Bank of Canada (BoC) has come out swinging with a bold move, raising interest rates by 25 basis points. This unexpected decision has sent shockwaves through the market, causing the USD/CAD pair to slide dramatically. The central bank's action…
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