Market Analysis
Detailed market analysis for the global markets provided by various regulated forex brokers technical analysis teams
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The USDCAD pair continues to rise following a reduction in Canadian interest rates. Positive US data may cause the Canadian dollar to lose ground further. Find out more in our analysis dated 25 July 2024. USDCAD trading key points Canada’s average weekly earnings (y/y) in May: previously at 3.69% Canada’s manufacturing sales (m/m): previously at […]
The USDJPY rate has declined by over 0.75% today. The analysis dated 25 July 2024 outlines the main reasons for the Japanese yen’s strengthening. USDJPY trading key points The USDJPY pair has reached multi-month lows Japan’s business activity is growing but unevenly The market anticipates changes in the Bank of Japan’s policy USDJPY forecast for […]
The DE 40 stock index has breached the support level of the uptrend that began last week. A new sideways channel is likely to form. DE 40 trading key points Recent data: Germany’s composite PMI reached 48.7 points, falling short of economists’ forecast of 50.6 Economic indicators: these indicators show that the German manufacturing sector […]
Gold prices are falling, as they cannot hold above 2,400 USD. Market participants await today’s release of US GDP data. Find out more in our analysis dated 25 July 2024. XAUUSD trading key points Market focus: the market awaits US Q2 GDP data release today Current trend: a downward correction is underway following an all-time […]
The USDJPY pair continues to decline. The market believes the Bank of Japan will raise interest rates next week. USDJPY trading key points JPY is rising amid expectations of an interest rate hike The Bank of Japan may raise the borrowing cost as early as next week USDJPY forecast for 24 July 2024: 156.60, 157.33, […]
The GBPUSD is falling for the second consecutive session. Read in the analysis for 24 July 2024 how the upcoming Bank of England’s decision may affect the pound. GBPUSD trading key points The BoE may have three interest rate cuts in 2024 The first decision on interest rates will be announced at the Monetary Policy […]
Speeches by ECB and FOMC officials may trigger a further decline. For a detailed analysis, please refer to our forecast dated 24 July 2024. EURUSD trading key points The eurozone’s manufacturing PMI: previously at 45.8, forecasted at 46.0 US manufacturing PMI: previously at 51.6, forecasted at 51.7 The Eurogroup meeting A Speech by European Central […]
The US Tech stock index tumbled by 6.4% after reaching an all-time high. The quotes broke below the 21,160.0 support level and the uptrend’s support line. US Tech trading key points Recent data: net interest payments on the US national debt relative to GDP exceeded 3.5% Economic indicators: the need to reduce the debt burden […]
Brent crude oil prices are declining for the fifth consecutive trading session. Read about it in the analysis for 24 July 2024. Brent trading key points The market awaits EIA data: inventories are expected to have increased by 0.70 million barrels Brent forecast for 24 July 2024: 82.80 and 76/80 Fundamental analysis Brent continues to […]
The NZDUSD pair has fallen for the fourth consecutive trading session, pressured by the strong US dollar and China’s declining economy. NZDUSD trading key points Negative signals from China work as pressure factors It is difficult for the NZD to withstand pressure from the US dollar NZDUSD price targets: 0.5948 and 0.5907 Fundamental analysis The […]
The EURUSD rate slightly rose on Tuesday, 23 July 2024, trading above the key support level of 1.0875. EURUSD trading key points The ECB’s decision to keep interest rates unchanged and Lagarde’s remarks about a “wide open” September meeting continue to support the euro Eurozone, Germany, and France PMIs are expected to improve, and consumer […]
The USDJPY analysis for 23 July 2024 indicates that the yen continues to strengthen in anticipation of the decision on interest rate changes in July. USDJPY trading key points US existing home sales (June): previously at 4.11M, forecasted at 3.99M USDJPY price targets: 158.28, 154.80, and 154.66 Fundamental analysis The yen continues to strengthen against […]