https://www.tradingview.com/x/HPB6hf1F/ EURUSD has been on a progressive uptrend since hitting its march 15 lows breaking major resistance zones and attaining new highs, the pair recently broke its bullish trendline in the early hours of today thus hinting a change in it direction, the bears could be set to take control of EURUSD provided it breaks the its support zone as seen on the chart.

The reserve bank of Australia at its meeting today decided to raise the cash rate by 25 BP to 3.85 percent, they didnt hesistsate to increase the paid on exchange settlement point as well to 3.75 percent.

The reason for this increase was as a result of rising inflation which surpassed its peak at 7 percent thus requiring immediate attention, as inflation has been a critical problem in Australia, its been predicted to take a couple more years to return to its target range.

The labour market remains a key factor to today's cash rate data as unemployment is currently at a 50 year low as companies and firms find it difficult employing new workers leading to a shortage in labour, thus the board top priority remains to target high inflation and some further tightening of monetary policy may be required to ensure that inflation returns to the target in a reasonable timeframe.

https://www.tradingview.com/x/LLhD1HYh/ AUDUSD been ranging since hitting its march 7th lows as the AUD economy remains unstable, as the pair could now be seen trading on a trendline, the bulls gained some strength following the cash rate data earlier today and a break above could make price rally all the way to 0.67516

USDCAD gained some strength in the early hours of today ahead of the federal fund rate data to be released later today.



The pair which fell rapidly last week following the Canadian GDP data last week could now be seen heading towards its last week resistance zone, but this growth could be short lived as the market faces so many uncertainties ahead of the Federal fund rate and NFP data all coming up this week.



Technically the 1.36654 holds a significant position on USDCAD as a break above it could make price rally all the way to 1.38013 while a decline from this point could send price down to the 1.34954 mark.

KEY ECONOMIC EVENTS OF THE WEEK


WENS. USD; Consumer price index

THURS. GBP. Official bank rate/ Gov baileys speech

THURS. USD. Core PPI

THURS. USD. Unemployment claims

FRI. NZD. Inflation expectations q/q

FRI. GBP. Gross domestic product

FRI. USD. Prelim UoM consument sentiment

UK100 started off the week bullish after having a long bearish run last week, the index could now be seen with some good bullish strength and could be set for more increase using the dotted lines as key resistance zones. https://www.tradingview.com/x/oE5ymzZF/

The US dollar turned bullish this week and also experienced a downward movement following the inflation data coming later today. The EURUSD which has been trading on a horizontal channel since hitting its april 14th lows could be set for a bearish breakout from that following all speculations surrounding the US dollar as well as President Biden's failure to resolve the debt ceiling crisis and also inflation with a forecast of a 0,4% rise. https://www.tradingview.com/x/VZz1ghPu/

The U.S. Consumer Price Index (CPI) meeting was held today, and the results show that there has been a significant increase in the prices of goods and services over the past month. The Bureau of Labor Statistics released the CPI report, which indicated that the index rose by 0.4% in April, following a 0.1% increase in March. and also a 4.9% increase over the past 12 months

The increase in prices was driven by a surge in demand as the economy continues to recover from the pandemic, as well as supply chain disruptions that have led to shortages of certain goods.

Some of the categories that saw the biggest price increases included used cars and trucks and the index for gasoline, which rose by 3%, transportation services, which increased by 11%on the 12 months basis Additionally, prices for food remained unchanged in April.

The increase in prices has raised concerns about inflation, which is a sustained increase in the general price level of goods and services in an economy over a period of time. While some economists believe that the current inflationary pressures are temporary and will ease as supply chains return to normal, others are concerned that the Federal Reserve may need to take action to prevent inflation from spiraling out of control.

Overall, the CPI report provides important information about the state of the economy and the potential risks to future growth. Policymakers and investors will be closely monitoring inflation and other economic indicators in the coming months to determine the best course of action.

GBPUSD has been on a progressive uptrend hitting its highest point since May 2022, despite that the bears gained some strength in the early hours of today ahead of the UK bank rate meeting sending price down to 1.25872 mark as investors gear up for this critical data,a break below the marked support zone could send price down to 1.25116. https://www.tradingview.com/x/mpv6HTpW/

https://www.tradingview.com/x/J5W0ioho/ EURUSD has been on a progressive downtrend since hitting it April 26th high thus breaking major support zones, the pair could be seen consolidation as it faces so many uncertainties following the EUR strenght, following the french PMI released today, EURUSD could be set for more bearish move using the dotted lines as key support zones.

https://www.tradingview.com/x/64IgfbvX/ USDJPY despite being on a progressive uptrend since hitting its March 24 lows happened to show some bearish dominance in the early hours of today following the release JPY unemployment data. The pair could now be seen trading on the 50ema as it sets for more bullish movement above the 140.935 mark.

The AUD. Consumer Price Index (CPI) meeting was held today, and the results show that there has been a significant increase in the prices of goods and services over the past month. the CPI report, which indicated that the index rose by 6.8% in April versus 6.4 percent expected.



Some of the categories that saw the biggest price increases included Housing (+8.9%), Food and non-alcoholic beverages (+7.9%) and Transport (+7.1%).

Annual trimmed mean rose 6.7% in the year to April.

Total nonfarm payroll employment rose by 339,000 in May,and the unemployment
rate increased by 0.3 percentage point to 3.7 percent, as reported by the U.S. Bureau of Labor Statistics
today. Job gains where significant in important areas such as, professional and business services, government,
health care, construction, transportation and warehousing, and social assistance.

On Household Survey Data

The unemployment rate elevated by 0.3 percentage point to 3.7 percent in May, and
the number of unemployed persons rose by 440,000 to 6.1 million indicating an economic crises The unemployment
rate has ranged from 3.4 percent to 3.7 percent since March 2022.

In May, the number of persons jobless less than 5 weeks edged up by 217,000 to
2.1 million, partially offsetting a decrease in the prior month. The number of
persons jobless 15 to 26 weeks increased by 179,000 to 858,000 in May

https://www.tradingview.com/x/oRQdGvQc/ EURUSD turned bullish on the early hours of monday ahead of the major economic data of this week, thus gaining more strength today following the release of the NFP data, the pair could now be seen trading above the 50 EMA indicating more bullish strength as a break above the 1.07742 mark could make price rally all the way to 1.09061 mark

https://www.tradingview.com/x/I1XYpFMs/ BTCUSD which has been on a progressive downtrend since last week could be set for a bullish turn as price seems hesitant on breaking the $25,500 mark, thus BTC could be set for more upward move using the dotted lines as key resistant zones.