forex news

Resistance at 1.267: Key Level to Watch After BoE Rate Decision

The UK continues to struggle with high inflation, as demonstrated once again this morning when headline inflation exceeded expectations at 8.7%, surpassing the projected 8.4%. Core inflation also outperformed, registering a 7.1% figure compared to the expected 6.8%. This divergence...

EURGBP Expectations: UK Inflation and BoE’s Decision this Week

On Monday, the pound reached its highest level against the euro in 10 months, at 85.25 pence, as investors await the British inflation data and the upcoming Bank of England decision. However, the currency pair quickly rebounded to the support...

Market Reactions to Fed’s “Hawkish Pause” 

Today the Federal Reserve chose not to proceed with an 11th consecutive interest rate hike, opting instead to assess the effects of the previous 10 hikes. However, the Fed announced that it anticipates implementing two additional quarter percentage point increases...

US Inflation Trading Opportunities Ahead

The next two days' worth of trading could turn out to be particularly interesting due to the sharp drop in CPI expected on (US time) Tuesday as well as the market being (over?) confident that the Fed is going to...

Challenges Ahead for USD/CAD Bulls

Last night, the Bank of Canada decided to raise its interest rate by 25 basis points, bringing it to 4.75%. This move came after a pause in the tightening campaign during the two previous meetings. As a result, borrowing costs...

USD/CAD: Consolidation Calm Before the Storm?

The USD/CAD has been consolidating since late last Friday. Key levels include 1.346 and 1.345 for the upper bound and 1.341 and 1.340 for the lower bound. The market appears to be in the middle of the storm that might...

NFP report: How Will it Shape the Gold Trend?

Gold prices experienced a rise on Tuesday and Thursday (sideways on Wednesday), driven by traders' expectations of another interest rate hike by the US Federal Reserve. But is the medium-term downtrend really over? One fundamental indicator that can help answer...

5 Key Factors Shaping US Dollar Trading This Week

The US dollar is in the midst of a week filled with pivotal events. Together, these fundamental drivers hold the key to understanding the potential shifts in the US dollar's performance throughout the week: US President Joe Biden announced that...

Market Over-Reacts? NZD tanks more than 2%

The New Zealand dollar experienced a significant drop of over 2% on Wednesday, reaching its lowest level in more than three months at $0.6039. This decline followed the Reserve Bank of New Zealand's (RBNZ) expected decision to raise cash rates...
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