Market Analysis

US CPI Falls Again The US Dollar has come under heavy selling pressure today on the back of yesterday’s US inflation data. On the yearly figure, CPI was seen cooling to 3% from 4% prior, below the 3% reading the market was looking for. Both monthly readings were also seen coming in below expectations. Having […]

USDCHF, “US Dollar vs Swiss Franc” USDCHF quotes on H4 and the RSI are in their oversold areas. In these circumstances, the instrument is expected to rise above -1/8 (0.8667) and advance to the resistance level of 0/8 (0.8789). The scenario can be cancelled by a downward breakout of the support at -2/8 (0.8544), which […]

The British pound sterling does not stop the rally against the US dollar. The current GBPUSD quote is 1.3000. The fall of the US dollar provided support for the pound and added to the list of triggers recently launching the rise in the GBP rate. From the fundamental point of view, the pound relies on […]

GDP Dips in May… But Less Than Expected The latest set of UK economic data today was a mixed bag. On the headline GDP reading, the UK economy was seen contracting in May, falling 0.1% against the prior month’s 0.2% reading. However, the dip has largely been attributed to the extra bank holiday in place […]

Gold Rallying The fall in USD this week has helped gold prices recover sharply.  With US inflation seen cooling further last month, US rate hike expectations have plummeted. While a hike is still priced in for the July meeting, beyond that traders are expecting the Fed to hold rates steady through until the first projected […]

GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD quotes are testing the upper boundary of a bullish channel. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Tenkan-Sen line at 1.2940 is expected, followed by a rise to 1.3035. An additional signal confirming the rise will be a […]

EURUSD, “Euro vs US Dollar” EURUSD has formed a Shooting Star reversal pattern on H4 near the resistance level. Currently, the instrument could go by the reversal signal in a descending wave. The correction target might be the support level of 1.1085. However, the price could rise to 1.1240 and continue the uptrend without testing […]

The FTSE Finish Line – July 12 – 2023 FTSE & Sterling Soar As A Weak USD Supports Miners And Banks Pass Stress Tests The FTSE is firmly in the green heading into the close of trade on Wednesday. The positive momentum was driven by higher metal prices, which lifted mining stocks. Additionally, British banks […]

BOC Up Next The Bank of Canada meeting today is drawing plenty of attention with the BOC widely expected to hike rates by a further .25% on the back of last month’s unexpected rate hike. The BOC signalled at that meeting that further hikes would likely be necessary. Recent data out of Canada has highlighted […]

Oil Rallying Oil prices are trading firmly higher into the middle of the week with crude futures expanding on last week’s gains. The rally has seen futures trading higher by around 12% off the June lows. Price, crucially, is now trading above both the 72.61 level and the bear channel highs. While above this area, […]

USDJPY, “US Dollar vs Japanese Yen” USDJPY quotes have broken the 200-day Moving Average on H4 and are now below it, revealing a possible development of a downtrend. However, the RSI is already in the oversold area, indicating price growth. As a result, a test of 2/8 (139.06) is expected, followed by a rebound from […]

The BTC quotes on Wednesday rose to 30,575 USD. The flagship cryptocurrency has not yet used either seasonal cycles that favour a price increase or support from the US stock market. Investors seemingly save power for future purchases. However, the longer this pause drags on, the more chances there are for a price slump. The […]