Market Analysis

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 […]

The FTSE Finish Line – July 11 – 2023 Employment Data Boosts Sterling, Further BoE Action Weighs On FTSE The FTSE is hugging the flatline into the close of Tuesday’s trading, the UK’s blue chip index continues to test pivotal support in the 7250 region. The export heavy index was weighed by a stronger Sterling […]

XAUUSD, “Gold vs US Dollar” Gold has formed a Long-Legged Doji near the support level. At this stage, the instrument is going by the reversal signal in a corrective wave. The growth target could be 1937.50. Upon testing the resistance, the price could have a chance for a rebound and the development of a downtrend. […]

GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD 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 1.2845 is expected, followed by a rise to 1.3035. An additional signal confirming the rise will be a rebound from the lower […]

Wages Rise Again GBP is trading higher today on the back of the latest set of UK labour market indicators, which have helped keep hawkish BOE expectations entrenched. While the unemployment rate was seen unexpectedly rising to 4% from 3.8% prior, the average earnings index was seen jumping to 6.9% from 6.7% prior, above the […]

Daily Market Outlook, July 11, 2023 Munnelly’s Market Commentary…  Asian equity markets experienced positive performance, driven by modest gains on Wall Street. Cyclicals benefited from promising inflation indicators ahead of the upcoming US CPI data, while market participants also considered China’s support measures. The Nikkei 225 remained flat and struggled to maintain its early momentum […]

AUDUSD, “Australian Dollar vs US Dollar” AUDUSD quotes on H4 have broken the 200-day Moving Average and are now above it, indicating the possible development of an uptrend. The RSI is approaching the resistance line. In this situation, a test of 6/8 (0.6713) is expected, followed by a breakout and a price rise to the […]