Author: Omada Admin
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British Pound Resumes Rally as Retail Sales Jump
The British pound has posted gains on Friday. In the European session, GBP/USD is trading at 1.3484, up 0.49% on the day. The pound has gained 1.5% this week and is trading at levels not seen since Feb. 2022. UK retail sales surge 5% in April The markets were expecting a banner reading from April…
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GBP/USD: Cracks 1.3500 Barrier and Hits a Multi-Month High on Upbeat UK Economic Data
Cable rose 0.5% on Friday morning and cracked psychological 1.3500, hitting the highest since February 2022. Fresh acceleration higher was sparked by upbeat UK retail sales, which strongly beat forecasts in April and boosted risk sentiment. Bullish continuation pattern is developing on weekly chart as cable broke through key resistances at 1.3434/44 (2024/2025 tops), with…
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EUR/USD Could Climb as Dollar Faces Mounting Risks
The euro has regained strength against the dollar, with EUR/USD holding steady at 1.1312 on Friday. Key drivers behind EUR/USD’s movement The US dollar remains vulnerable as investor concerns over the US fiscal outlook persist. President Donald Trump’s proposed budget bill – featuring tax cuts and heightened defence spending – has stoked fears of surging…
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Crypto Climbs Back to January Highs
The cryptocurrency market added a mere 0.7% in 24 hours, but an important 5% in seven days to $3.5 trillion. This increase is important as it falls in the area of the market peaks reached in December and January. The sentiment index jumped to 78, last seen in January, confirming a similar situation to what…
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USD/CAD Bounce Proves Unsustainable
USDCAD retreats after short-lived recovery attempt. Long-term support trendline in focus as bears target April’s low of 1.3748. USDCAD has surrendered much of its May gains after repeated attempts to break above the 1.4000 mark faltered, pushing the pair back into negative territory this week. Adding to the pressure, Trump’s narrowly passed tax-cut bill in…
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USD/CAD Rate Drops Towards Yearly Lows
The USD/CAD chart is currently showing clear signs of a bearish trend, characterised by a sequence of lower highs and lower lows (A→B→C→D→E→F→G). This week’s decline suggests the downward structure may continue to develop, putting the current yearly low around the 1.3770 level at risk. Why Is USD/CAD Falling? On one hand, the US dollar…
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EUR/GBP Daily Outlook
Daily Pivots: (S1) 0.8387; (P) 0.8418; (R1) 0.8438; More… Intraday bias in EUR/GBP remains neutral at this point. Overall outlook stay bearish as long as 0.8539 resistance holds. On the downside, break of 0.8392 temporary low will resume the decline from 0.8737 to 0.8221/8239 support zone. In the bigger picture, current development suggests that price…
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EUR/JPY Daily Outlook
Daily Pivots: (S1) 161.67; (P) 162.55; (R1) 163.29; More… Intraday bias in EUR/JPY remains neutral at this point. Further rally is in favor as long as 161.57 support holds. On the upside, break of 163.35 minor resistance will bring retest of 165.19 first. Break of 165.19 will resume the rise from 154.77 to 166.67 resistance.…
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GBP/JPY Daily Outlook
Daily Pivots: (S1) 192.23; (P) 192.91; (R1) 193.93; More… Intraday bias in GBP/JPY remains neutral at this point. While deeper pullback might be seen, further rally is expected as long as 190.22 structural support holds. On the upside, above 194.18 minor resistance will turn bias back to the upside for 196.38 resistance. However, sustained break…
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Euro Area PMIs Falter, as US Show Robust Growth
In focus today In the euro area, focus turns to the initial wage growth data for Q1, specifically the ECB’s indicator of negotiated wages. We anticipate a significant decline in wage growth from the 4.1% y/y recorded in Q4. This is attributed to reduced actual pressures and the base effect from substantial inflation-compensating one-offs provided…