Market Analysis
Detailed market analysis for the global markets provided by various regulated forex brokers technical analysis teams
Disclaimer: Market Analysis is published for informational purposes only and should not be considered as investment advice, recommendations, or suggestions for performing any action with financial instruments. The analysis belongs to their respective authors and “Brokers Watch” is not responsible for their content.
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Daily Market Outlook, July 12, 2023 Munnelly’s Market Commentary… Asian equity markets exhibited a mixed performance as investors maintained caution ahead of the release of key US inflation data. The Nikkei 225 in Japan declined below the 32K handle. This underperformance was influenced by a stronger Japanese yen, as the USD/JPY currency pair retreated below […]
EURUSD, “Euro vs US Dollar” EURUSD has secured above the resistance level. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Tenkan-Sen line at 1.0970 is expected, followed by a rise to 1.1105. An additional signal confirming the rise will be a rebound from the upper boundary of […]
USDCAD, “US Dollar vs Canadian Dollar” USDCAD has formed a Hammer reversal pattern on H4. Currently, the instrument might go by the reversal signal in an ascending wave. The correction target could be 1.3260. Next, the price could rebound from it and continue the downtrend. However, the quotes might drop to 1.3170 without any correction […]
USD Downside Risks Today’s US CPI release will be pivot for FX markets near-term. While a further .25% hike from the Fed is widely expected as the base case scenario for the July FOMC, expectations have shifted beyond this month. With a less dovish outlook voiced by some Fed members recently and with jobs data […]
RBNZ Holds Rates Steady Following 12 straight months of rate hikes, the RBNZ held monetary policy unchanged at the July MPR overnight. Sitting at 5.5%, the RBNZ noted that policy would remain unchanged for the foreseeable future, citing a technical recession in New Zealand. The bank note that its tightening campaign had helped curb spending […]
The New Zealand dollar looks positive against the US dollar. The current NZDUSD quote is 0.6224. The Reserve Bank of New Zealand left the interest rate at the level of 5.5% per annum at the meeting in July. In the comments, the RBNZ confirmed that previous decisions to raise the interest rate had caused the […]
The British pound sterling continues to gain weight against the US dollar. The current GBPUSD quote is 1.2931. The UK economy created 102,000 jobs in June, which is less than in May and clearly below the consensus forecast. The unemployment rate increased to 4.0% from 3.8% before. The claimant count change rose by 25.7 thousand […]
USD Under Pressure Gold prices are rallying on Tuesday as the USD sell off deepens. The greenback came under pressure late last week as the latest round of US labour market readings failed to deliver and bullish encouragement. With the headline NFP coming in below expectations, marking a sharp drop on the prior month, there […]
UK Data in Focus GBPJPY is correcting sharply lower today as JPY gains on USD weakness. The latest set of UK labour market readings today have kept hawkish BOE expectations well-primed. However, with UK inflation still rampant, the unemployment rate creeping higher, and interest rates set to move higher still from already elevated levels, the […]
The British pound sterling is rallying against the US dollar. The current GBPUSD quote is 1.2884. GBP received strong support from the Bank of England. Yesterday the governor of the BoE Andrew Bailey delivered a speech confirming that the regulator was determined to fight inflation till the end. Bailey is influenced by policymakers and economists […]
Threads Users Soaring Meta is trading higher again today ahead of the open as focus stays on the continued growth in popularity of new social media app Threads. The app, launched last week, has been positioned as a direct rival to the Elon Musk owned Twitter app. Already seeing user numbers of nearly 100 million […]