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DOGE coin technical analysis: Bullish.

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Doge coin technical analysis and price forecast: From the peak in May 2021, Dogecoin has been in a strong bear market as market expectations of higher interest rates from the Fed to fight inflation forced buyers to rush for the exit. We’ve seen a general bear market for over a year in the cryptocurrency space
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ICYMI: China’s Xi said COVID in China mainly Omicron, was less lethal, allows more openess

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Weeeknd reports ICYMI on the visit to China by European Council President Charles Michel, who met with Chinese President Xi Jinping. An unnamed official with Michel recounted Xi’s comments: “The response we got from the president was an explanation why there were protests — explaining that after three years of COVID he had an issue,
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Oil prices dip as dollar strengthens, remain on track for weekly rise

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Oil prices edged lower in early Asian trade on Friday as the U.S. dollar pared some losses, while easing COVID-19 curbs in two Chinese cities limited losses. Brent crude futures were down 11 cents or 0.1% at $86.77 per barrel by 1:28 GMT, while U.S. West Texas Intermediate (WTI) crude futures lost 14 cents or
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Private hiring increased by just 127,000 jobs in November, well below estimate, ADP reports

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Private hiring slowed sharply during November in a sign that the historically tight labor market could be losing some steam, according to a report Wednesday from payroll processing firm ADP. Companies added just 127,000 positions for the month, a steep reduction from the 239,000 the firm reported for October and well below the Dow Jones
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US Dollar tightrope walking daily support

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US Dollar bears eye a break below daily support. Bulls could be attracted which could open risk towards 105.50 or a 50% mean reversion near 105.75.  The US dollar fell on Friday despite a surprisingly strong jobs report and fell to test the 104.50s where the price is consolidating in the Tokyo open. Even though the Nonfarm Payrolls
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Dollar retraces its rise. GBPUSD trades to a new session high

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The USDs rise is being retraced as the stocks also rebound. The GBPUSD is ticked to a new session high. The Asian session high reached one point to 297. The high price just ticked to 1.22992 just short of the 1.2300 natural resistance level. Yesterday the high price reached 1.23082. Looking at the hourly chart,
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OPEC+ holds production unchanged, as expected

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There was no surprise at Sunday’s OPEC+ meeting as the group left production quotas unchanged, as was expected. Hints at the decision were dropped to various news services last week so the announcement doesn’t come as a surprise, though some had held out hope for a cut. In October OPEC+ lowered production quotas by 2
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Gold flat; set for best week in three on smaller rate-hike bets

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Gold prices were flat on Friday but set for their best week in three ahead of the U.S. jobs report, helped by the dollar’s retreat on expectations that the U.S. Federal Reserve will slow the pace of interest rate hikes. FUNDAMENTALS * Spot gold was little changed at $1,800.78 per ounce as of 0037 GMT,
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Payrolls and wages blow past expectations, flying in the face of Fed rate hikes

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Job growth was much better than expected in November despite the Federal Reserve’s aggressive efforts to slow the labor market and tackle inflation. Nonfarm payrolls increased 263,000 for the month while the unemployment rate was 3.7%, the Labor Department reported Friday. Economists surveyed by Dow Jones had been looking for an increase of 200,000 on
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USD/JPY Price Analysis: Stumbles below 134.00 and the 200-DMA on soft USD

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The USD/JPY retraced from daily highs of 120 pips, as the USD is being offered. USD/JPY: Daily close below the 200-DMA opens the door for a drop to 131.70s. The US Dollar (USD) gave away its earlier gains courtesy of upbeat economic data revealed in the United States (US) and dropped 0.52% against the Japanese
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Elon Musk alleges SBF donated over $1B to Democrats: “Where did it go?”

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The attempts of mainstream media to water down the frauds committed by FTX CEO Sam Bankman-Fried (SBF) did not fare well in convincing the crypto community and entrepreneurs. Instead, the misinformation campaign collided with Tesla CEO Elon Musk’s drive to position Twitter as “the most accurate source of information.” The world is yet to overcome
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Gold moves back above its 200 day moving average. 100 week MA in play as well.

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Gold is trading near its 200 day moving average Gold has seen its price move lower on the back of the stronger than expected US jobs report and higher dollar. But as they dollars gains have been eroded, the price of gold has likewise seen a rebound back to the upside. The price has moved
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Is there more to the jobs picture? The household survey has been flat since March

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The US dollar has given back most of its gains and the initial hawkish reaction to the non-farm payrolls report has been largely erased. That probably reflects that non-farm payrolls are a lagging indicator and that the Fed has already signaled slowing rate hikes to 50 bps. In short, the report wasn’t strong enough to
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Oil price cap on Russian oil will benefit emerging markets, help constrain Putin’s finances: US

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The US has welcomed the USD 60-per-barrel price cap on Russian oil, describing it as an “important tool” that will benefit emerging markets and low-income economies and further cripple President Vladimir Putin‘s finances used to fund his “brutal invasion” on Ukraine. The European Union reached a deal on Friday for a USD 60-per-barrel price cap
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Yen Jumped as Fed Powell Knocked Down Dollar and Yields

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The tone of the markets was well set by Fed Chair Jerome Powell’s indication of smaller rate hike in the upcoming FOMC meeting. The biggest reactions were found in treasury yields, which decline was surprisingly steep. US stocks ended higher but upside momentum appeared to be diminishing. Dollar was sold off broadly and closed as
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Here’s where the jobs are for November 2022 — in one chart

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The U.S. job market beat expectations again in November, adding 263,000 payrolls led by the service sector. Leisure and hospitality was the top category for job gains, according to a report from the U.S. Bureau of Labor Statistics, adding 88,000 jobs. Roughly 62,000 of those jobs were in food and drink services, the report said.
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NZD/USD conquers 0.6400 amidst a risk-off mood, post US NFP report

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NZD/USD is set to finish the week with gains of 2.56%. The November US Nonfarm Payrolls suggested a tight labor market, so the Federal Reserve needs to keep hiking rates. NZD/USD Price Analysis: Daily close above 0.6400 exacerbates a rally towards 0.6570s. The New Zealand Dollar (NZD) climbed against the US Dollar (USD) for the
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WTI crude oil settles at $79.98

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The price of crude oil futures settled at $79.98. That is down -$1.24 or -1.53%. The OPEC+ meeting will take place virtually on Sunday. No change in production is expected. The price cap looks to be set at $60 for Russian oil The Russian sanctions will also go into effect cutting off all imports of
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