Author: FX
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On Thursday, the European Central Bank is likely to raise its interest rates by another 25 basis points. How can the decision affect EUR’s prices? Here are the important points you need to know before working on your trading plan: Event in Focus: European Central Bank (ECB) Monetary Policy Statement When Will it Be Released: June 15, Thursday: 6:00 pm GMT ECB President Lagarde will conduct a presser 30 minutes later. Use our Forex Market Hours tool to convert GMT to your local time zone. Expectations: ECB to raise its refinancing rates by 25 basis points to 4.00% ECB President…
EUR/CAD dailyGoldman Sachs recently shared its perspective on the euro, suggesting that its upside potential is limited due to similarities in macroeconomic conditions in the eurozone and other regions. The firm believes that the divergence in market pricing between these areas should reduce over time.Interestingly, the recent data seems to slightly diverge – while inflation in the United States has remained more persistent than anticipated, it has declined at a faster rate in the Euro area. Moreover, the United States has experienced resilient hard economic data in contrast to the Euro area’s less stellar performance at the start of the…
Share: AUD/USD gains 0.55%, trading at 0.6787 despite the US CPI data release. Fed is likely to delay rate hike as inflation cools; Futures suggest hike likelihood at 58.2% next month. Despite the ongoing RBA tightening cycle, AUD boosted by marginal gain in Consumer Confidence AUD/USD remains trading in the green, extending its rally to four straight days, but gave back some of its earlier gains following an inflation report in the United States (US). Data released from Australia in the Asian session lifted the pair, but at the time of writing, it exchanges hands at 0.6783, up…
Copper News and AnalysisChina lowers short-term lending rates to support economic recoveryIndustrial metals like copper benefitted from a lift in sentiment as prices roseFOMC remains the most impactful item on the economic calendar this weekThe analysis in this article makes use of chart patterns and key support and resistance levels. For more information visit our comprehensive education library Recommended by Richard Snow Learn the number one mistake traders make and avoid it China Lowers Short-Term Lending Rates to Support RecoveryThe People’s Bank of China (PBoC) lowered the 7-day reverse repo rate to 1.9% which previously stood at 2% in its…
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© Reuters. FILE PHOTO: A man walks past an electric monitor displaying Japan’s Nikkei share average and recent movements, outside a bank in Tokyo, Japan, June 5, 2023. REUTERS/Issei Kato By Amanda Cooper LONDON (Reuters) -Global shares rose on Tuesday, taking their lead from an upbeat session on Wall Street ahead of key U.S. inflation data that could shape the outlook for Federal Reserve monetary policy. Consumer inflation on Tuesday and wholesale data on Wednesday could offer investors evidence of how successful the Fed has been in taming price pressures, and an indication of how much more U.S. rates may…
The recent beat in the non-farm payrolls (NFP) data, coupled with concerning factors such as a higher unemployment rate and reduced average weekly hours, has resulted in a depreciation of the USD. The market has begun to readjust its previously hawkish outlook to a less hawkish one, as a looser labour market has the potential to bring the inflation rate even lower. Additionally, the miss in the ISM Services PMI, particularly in the lower prices paid sub-index, has made some to speculate that core inflation could start to normalise in the near future.Regarding the big miss in US jobless claims…
Share: Euro has attracted significant bids as a decline in the Fed-ECB policy divergence is widely anticipated. An interest rate hike by the ECB is expected despite fears of a recession in Europe. The energy component is expected to soften the US headline inflation while core inflation could turn out more persistent. The Euro has driven the major currency pair closer to the round-level resistance of 1.0800 after a sharp recovery from 1.0743. The EUR/USD pair has attracted investors’ attention amid a firmer risk-appetite theme and hopes of a decline in the Federal Reserve (Fed)-European Central Bank (ECB)…
Uncle Sam is ready to print the latest CPI report today! Can USD/CHF resume its climb once the numbers are out? As you can see from the hourly chart below, the pair recently busted through a short-term falling trend line. This means that the tide is turning in favor of dollar bulls, but it seems that a retest is taking place. USD/CHF 1-hour Forex Chart by TV The pair retreated upon testing the .9100 major psychological resistance, which happens to line up with R1 (.9110). Price has since dipped to the 50% Fibonacci retracement level that coincides with the former…