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Wall Street collapsed on Friday, and the DJIA closed the day down 530 points or 3.12% at 16,459.75, its biggest loss of the year. Stocks worldwide plunged on concerns over China’s economic growth is slowing at a faster pace than what the government recons, whilst tepid US FOMC Minutes had added huge amounts of uncertaintyRead More
The AUD/USD fell down to 0.7284 on Thursday, as the Aussie took a hit from falling Asian share markets. The pair however, recovered on dollar’s weakness, reaching 0.7362 before stalling. On daily basis, the pair is closed in the red, with a lower low and a lower high, and below its 20 SMA, suggesting bearsRead More
The GBP/USD pair was unable to regain the 1.5700 level on Wednesday, having spent most of the first half of the day consolidating below it. With no fundamental releases in the UK, the pair fell down to 1.5634 early in the US session, from where it jumped up to the 1.5700 figure following FOMC’s Minutes.Read More
The GBP/USD pair surged to a fresh 7-week high of 1.5716, with the Pound getting a boost from the UK inflation figures that surprised to the upside. The pair however, eased down to 1.5643 during the American afternoon, from where its slowly grinding back higher. Technically, the 1 hour chart shows that the technical indicatorsRead More
Wall Street closed in the green yesterday, with the DJIA up 67 points of 0.39%, ending the day at 17,545.18, and the housing sector leading the advance. The index dropped at the opening weighed by a weaker-than-expected New York manufacturing index that fell to levels not seen since 2009. But it slowly came back andRead More
The AUD/USD pair fell down to fresh multi-year lows at 0.7214, but erased most of its weekly losses by the close. The Aussie was among the most affected by China’s devaluation, but ever since RBA’s Governor, Glenn Stevens, said that the AUD depreciation has done enough to help the country’s economic growth, market sentiment hasRead More