The US Oil climbed as much as 79.56 today, registering a new high. Now, it has retreated a little and is located at 78.82. The bias remains bullish in the short term but it remains to see what impact the OPEC-LMMC Meetings will have. Also, the Canadian GDP and the US data should move the rate.
From the technical point of view, Crude Oil jumped above the median line (ml) and now it tries to confirm its breakouts. Consolidating above it and making a new higher high activates an upside continuation.
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EUR/USD loses the grip and challenges 1.0400
A robust, tariff-driven upswing in the US Dollar is now driving EUR/USD to deepen its daily losses, closing in on the key support at 1.0400 the figure ahead of scheduled speeches from Federal Reserve officials and President Trump.
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GBP/USD keeps its offered bias around 1.2630 on USD buying
Following the lead of other risk-sensitive currencies, GBP/USD is giving way to renewed buying pressure on the Greenback, keeping the trade around 1.2630 ahead of remarks from Fed policymakers and President Trump.
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Gold flirts with two-week lows around $2,880
Gold prices resume their downtrend and revisit two-week lows in the sub-$2,880 zone per ounce troy following the improved tone in the US Dollar, higher yields and further tariff narrative.
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Bitcoin recovers above $85,000 while institutional investors offload their holdings
Bitcoin (BTC) recovers slightly and trades around $86,000 at the time of writing on Thursday after falling nearly 15% at one point this week. US President Donald Trump’s ongoing tariff news and falling institutional demand fueled the BTC’s correction.
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February inflation: Sharp drop expected in France, stability in the rest of the Eurozone
Inflation has probably eased in February, particularly in France due to the marked cut in the regulated electricity price. However, this overall movement masks divergent trends. Although disinflation is becoming more widespread, prices continue to rise rapidly in services, in France as well as elsewhere in the Eurozone.
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