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3 reasons why Ethereum price keeps rejecting at the $1,300 level

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Ether (ETH) rallied 11.3% between Nov. 28 and Dec. 5, peaking at $1,300 before facing a 4.6% rejection. The $1,300 resistance level has been holding ground for twenty-six days and is the most likely explanation for the correction to $1,240 on Dec. 6.  Ether/USD price index, 12-hour. Source: TradingView So from one side, traders are
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The AUD is the strongest and the CAD is the weakest as the NA session begins

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The strongest to weakness of the major currencies The AUD is the strongest and the CAD is the weakest as the NA session begins. The AUD moved higher after the RBA raised rates by the expected 25 basis points with the statement saying: The Board expects to increase interest rates further over the period ahead
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US stocks open little changed

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The major US stock indices are opening with modest changes. Dow is up 15 points or 0.05% at 33964 S&P is unchanged at 3998.80 Nasdaq is down -2.24 points or 0.02% at 11239 Russell 2000 is down -2.2 points or -0.12% at 1838.14 IN the US debt market, yields are modestly lower with a flatter
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Sugar stocks jump up to 10% on reports of 7% drop in sugar output

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Shares of sugar companies rallied 9.8% on Tuesday following reports of 7% fall in India’s sugar output so far this year. Erratic weather conditions have hampered cane yields, which could further result in a reduction in exports. From the pack, was one of the biggest gainers. The stock rallied 9.8% in Tuesday’s trade on the
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Aussie Steady after RBA Hike, Dollar Sluggish

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Dollar tried to rebound overnight, as risk-on sentiment receded after solid services data. But there is no follow through buying in Asian session with generally mixed mood. Aussie is under mild selling pressure and there is no support from RBA’s expected 25bps rate hike. For now, Dollar and Euro are on the stronger side for
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The dollar is slightly weaker in consolidative trade – BBH

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Economists at Brown Brothers Harriman & Co. (BBH) suggest that the recent dovish turn by the Federal Reserve might continue to weigh on the US Dollar, though the fundamental backdrop favours bulls. Key Quotes: “DXY is trading near 105.15 but has held on to the bulk of yesterday’s gains. While we still believe the fundamental
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Crude oil continues it downward tumble. High to low today, the price fell -6.9%.

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WTI fell sharply today The price of WTI crude oil moved down to a new session low of $76.79. The high price was up nearly 6 dollars from the low at $82.70. The fall comes despite more relaxed covid policies in China, and the full European embargo of Russian oil and the price cap at
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UK consumer spending data for November – ‘greatly lagged’ inflation

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The UK data via the British retail consortium (BRC) survey: total sales in November +4.2% y/y vs +1.6% y/y in October like-for-like sales +4.1% y/y vs October +1.2% y/y And, via Barclaycard: UK November consumer spending +3.9% y/y vs October +3.5% y/y Reuters summarise: consumer spending ticked up last month at a rate that greatly
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Oil up 3% on OPEC+ output plans and price cap on Russian crude

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Oil prices rose 3% on Monday after OPEC+ nations held their output targets steady ahead of a European Union ban and the start of a G7 price cap on Russian crude. At the same time, in a positive sign for fuel demand in the world’s top oil importer, more Chinese cities eased COVID-19 curbs over
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Euro Rises as Investor Sentiment Improves, Dollar and Yen Down

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Euro rises broadly today as supported by improvement in investor sentiment, but Sterling and Swiss Franc are lagging behind. Canadian Dollar also follows oil price high, as China appears to be moving further towards reopening. Australian Dollar is also firm. But Yen and Dollar are on the weaker side on positive market sentiment. Technically, while
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EUR/USD bulls move in despite corrective US Dollar

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US data beat expectations and sends the US Dollar into a bull correction.  EUR/USD bulls are moving in from the lows and eye correction towards 1.0550.  EUR/USD is perched at the upper end of the bull cycle that started at the end of September’s business on the US Dollar’s weakness. At 1.0507, the Euro is
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MORNING VIDEO: A look at the EURUSD, USDJPY and GBPUSD from a technical perspective

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The new trading week is underway, with the EURUSD making a new cycle high and backing off. The USDJPY started below its 200 day MA after closing below that key level on Friday, but has moved back higher and looks toward the 38.2% of the range last week (and high from Friday). The GBPUSD has
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S&P 500 set to fall back below the 200-dma at the open

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High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
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Gold rate today: Yellow metal hits 5 month high, silver tops Rs 67,000 on MCX

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New Delhi: Gold prices rose on Monday, hitting new 5 month highs on the back of weaker US Dollar and renewed interest in bullion after partial relaxations in Covid-19 restrictions by China. US employers hired more workers than expected in November and increased wages, shrugging off mounting worries of a recession, but that will probably
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Dollar Selloff Continues as China Eases Restrictions, RBA and BoC To Hike This Week

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Dollar’s selloff continues in Asian session today as overall market sentiment is supported by further restriction easing in China. The improvement in sentiment is also reflected in some weakness in Yen and Swiss Franc. Australian Dollar and Canadian Dollar are trading generally higher, awaiting rate hike by RBA and BoC later in the week. Euro
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Elon Musk says the Fed must cut rates ‘immediately’ to stop a severe recession

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In this article TSLA GSBD AMZN JPM Follow your favorite stocksCREATE FREE ACCOUNT Tesla Motors CEO Elon Musk unveils a new all-wheel-drive version of the Model S car in Hawthorne, California October 9, 2014. Lucy Nicholson | Reuters Elon Musk thinks a recession is coming and worries the Federal Reserve’s attempts to bring down inflation
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Recent TRY stability to be followed by further weakness – MUFG

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The Turkish Lira has continued to display remarkable stability against the US Dollar in November. Nonetheless, risks remain heavily tilted to the downside for the TRY, in the view of economists at MUFG Bank. Intervention is helping to support TRY “According to Bloomberg, Turkey has stepped up interventions to support the Lira over the last
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Pakistan launches new laws to expedite CBDC launch by 2025

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Regulators worldwide see central bank digital currencies (CBDCs) as a way to enhance fiat capabilities by inheriting the financial prowess of technologies that power cryptocurrencies. Pakistan joined this list by announcing new regulations to ensure the launch of an in-house CBDC by 2025. The State Bank of Pakistan (SBP) signed in new laws for Electronic
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