"British Pound Under Pressure: GBP/USD Analysis"
GBP/USD shows moderate growth, but lower-than-expected wage growth in the UK and geopolitical tensions may limit the upward movement. Unemployment data remains stable, but the slowdown in wage growth supports the assumption of a possible interest rate cut by the Bank of England. Trading recommendation: Predominantly sell from current levels. #GBPUSD #BankOfEngland #Forex
GBP/USD shows moderate growth, but lower-than-expected wage growth in the UK and geopolitical tensions may limit the upward movement. Unemployment data remains stable, but the slowdown in wage growth supports the assumption of a possible interest rate cut by the Bank of England. Trading recommendation: Predominantly sell from current levels. #GBPUSD #BankOfEngland #Forex
"Japanese Yen Under Pressure: USD/JPY Analysis"
The Japanese yen continues to weaken due to various factors, including the earthquake in Japan and weak wage data. The Bank of Japan is expected to postpone its plans to change its policy. This supports the rise of the USD/JPY pair to the 147.45 level, which has now become resistance. Strong statements from the Federal Reserve also impact the dollar. Trading recommendation: Predominantly buy from current levels, monitor the 147.45 level. #USDJPY #BankOfJapan #Fed #Forex
The Japanese yen continues to weaken due to various factors, including the earthquake in Japan and weak wage data. The Bank of Japan is expected to postpone its plans to change its policy. This supports the rise of the USD/JPY pair to the 147.45 level, which has now become resistance. Strong statements from the Federal Reserve also impact the dollar. Trading recommendation: Predominantly buy from current levels, monitor the 147.45 level. #USDJPY #BankOfJapan #Fed #Forex
"EUR/USD: Euro Supported by ECB Rate Expectations and Fed Comments"
In the early hours of Thursday's Asian trading, the EUR/USD pair remains stable despite the strengthening of the US dollar. The refusal of several European Central Bank (ECB) members to anticipate rate cuts provides some support for the euro. Specifically, ECB Governing Council member Bostjan Vasle stated that it is premature to expect rate cuts in early Q2. Vasle added that inflation needs to return to the 2% target before considering a change in monetary policy. Federal Reserve System (Fed) Chair Christopher Waller stated that a rate cut this year is likely but cautioned against rushing to lower the base rate until sustained inflation reduction is clear.
Trading recommendation: Monitor the level of 1.0900, trade from it on the rebound. Today's macroeconomic news can influence the EUR/USD pair.
#Forex #EURUSD #ECB #Fed #TradingAnalysis
In the early hours of Thursday's Asian trading, the EUR/USD pair remains stable despite the strengthening of the US dollar. The refusal of several European Central Bank (ECB) members to anticipate rate cuts provides some support for the euro. Specifically, ECB Governing Council member Bostjan Vasle stated that it is premature to expect rate cuts in early Q2. Vasle added that inflation needs to return to the 2% target before considering a change in monetary policy. Federal Reserve System (Fed) Chair Christopher Waller stated that a rate cut this year is likely but cautioned against rushing to lower the base rate until sustained inflation reduction is clear.
Trading recommendation: Monitor the level of 1.0900, trade from it on the rebound. Today's macroeconomic news can influence the EUR/USD pair.
#Forex #EURUSD #ECB #Fed #TradingAnalysis
"GBP/USD: Impact of Consumer Price Index on Pair Movement"
The GBP/USD pair hopes to strengthen its position after a good rebound from levels below 1.2600. The increase in the Consumer Price Index (CPI) in the UK in December served as the basis for this upward movement. The report showed a rise to 4.0%, the first increase in 10 months.
The market assesses the probability of a Bank of England (BoE) interest rate cut in May at around 60%, compared to over 80% the previous Tuesday. This, in turn, supports the British pound. The decline in the US dollar after its recent surge also contributes to the pair's strength.
Trading recommendation: Primarily trade on sell (Sell), monitor the level of 1.2700. Important macroeconomic news today may affect GBP/USD.
#Forex #GBPUSD #BoE #CPI #TradingRecommendation
The GBP/USD pair hopes to strengthen its position after a good rebound from levels below 1.2600. The increase in the Consumer Price Index (CPI) in the UK in December served as the basis for this upward movement. The report showed a rise to 4.0%, the first increase in 10 months.
The market assesses the probability of a Bank of England (BoE) interest rate cut in May at around 60%, compared to over 80% the previous Tuesday. This, in turn, supports the British pound. The decline in the US dollar after its recent surge also contributes to the pair's strength.
Trading recommendation: Primarily trade on sell (Sell), monitor the level of 1.2700. Important macroeconomic news today may affect GBP/USD.
#Forex #GBPUSD #BoE #CPI #TradingRecommendation
"USD/JPY: Japanese Yen Under Pressure from Bank of Japan's Ultra-Dovish Policy"
The Japanese yen fluctuates in a narrow range during Thursday's Asian session, consolidating its recent losses against the US dollar since the beginning of the week. The powerful earthquake in Japan complicates the Bank of Japan's (BoJ) task of reversing negative interest rates next week. Additionally, a decline in inflation in Tokyo and weak wage data confirm market expectations that the Japanese central bank will stick to its ultra-dovish stance.
Strong US retail sales data reduce the chances of an imminent Federal Reserve (Fed) rate cut, supporting the dollar. However, market sentiments remain volatile due to further escalation in military actions in the Middle East and economic problems in China, favoring the relative safety of the yen and limiting the rise of the USD/JPY pair.
Trading recommendation: Primarily trade on buy (Buy) from current levels. Today's macroeconomic news may influence the USD/JPY dynamics.
#Forex #USDJPY #BoJ #Fed #MarketSentiments
The Japanese yen fluctuates in a narrow range during Thursday's Asian session, consolidating its recent losses against the US dollar since the beginning of the week. The powerful earthquake in Japan complicates the Bank of Japan's (BoJ) task of reversing negative interest rates next week. Additionally, a decline in inflation in Tokyo and weak wage data confirm market expectations that the Japanese central bank will stick to its ultra-dovish stance.
Strong US retail sales data reduce the chances of an imminent Federal Reserve (Fed) rate cut, supporting the dollar. However, market sentiments remain volatile due to further escalation in military actions in the Middle East and economic problems in China, favoring the relative safety of the yen and limiting the rise of the USD/JPY pair.
Trading recommendation: Primarily trade on buy (Buy) from current levels. Today's macroeconomic news may influence the USD/JPY dynamics.
#Forex #USDJPY #BoJ #Fed #MarketSentiments
EURUSD:
The pair is moving upward, recovering from losses in the previous session.
There is speculation about a possible interest rate cut by the European Central Bank (ECB) in September, which may impact the Euro.
ECB President Christine Lagarde suggested that the question of rate cuts could be considered by summer.
Economic data from the U.S. also influenced the market: the housing starts exceeded expectations, and the number of initial jobless claims decreased.
Trading Recommendation: Primarily trade on Buy from current levels.
The pair is moving upward, recovering from losses in the previous session.
There is speculation about a possible interest rate cut by the European Central Bank (ECB) in September, which may impact the Euro.
ECB President Christine Lagarde suggested that the question of rate cuts could be considered by summer.
Economic data from the U.S. also influenced the market: the housing starts exceeded expectations, and the number of initial jobless claims decreased.
Trading Recommendation: Primarily trade on Buy from current levels.
GBPUSD:
GBP/USD is rising due to a high level of inflation in the UK.
Data on U.S. unemployment claims and housing construction also had an impact.
The UK experienced an unexpected rise in inflation, reducing the likelihood of a Bank of England rate cut.
Trading Recommendation: Primarily trade on Buy from current levels.
GBP/USD is rising due to a high level of inflation in the UK.
Data on U.S. unemployment claims and housing construction also had an impact.
The UK experienced an unexpected rise in inflation, reducing the likelihood of a Bank of England rate cut.
Trading Recommendation: Primarily trade on Buy from current levels.
GBPUSD:
GBP/USD is rising due to a high level of inflation in the UK.
Data on U.S. unemployment claims and housing construction also had an impact.
The UK experienced an unexpected rise in inflation, reducing the likelihood of a Bank of England rate cut.
Trading Recommendation: Primarily trade on Buy from current levels.
GBP/USD is rising due to a high level of inflation in the UK.
Data on U.S. unemployment claims and housing construction also had an impact.
The UK experienced an unexpected rise in inflation, reducing the likelihood of a Bank of England rate cut.
Trading Recommendation: Primarily trade on Buy from current levels.
Forwarded from FreshForexEN
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Analytical Overview: Financial Market Events Today (January 25)
Key Events Today:
1. 16:15 MSK. ECB Decision on Interest Rates in the Eurozone.
- Impact on EUR: Anticipated changes in the main interest rate could influence the euro's exchange rate. Investors are closely monitoring the ECB's comments and decisions regarding monetary policy.
2. 16:30 MSK. GDP Price Index in the United States.
- Impact on USD: The release of GDP data can affect the U.S. dollar. Economic activity growth usually supports the national currency.
3. 16:45 MSK. ECB Press Conference.
- Impact on EUR: Statements from ECB representatives may influence the current situation and future prospects in the eurozone.
Market Events for EURUSD:
- EURUSD rose above 1.0930 after an unexpected increase in the manufacturing component of the PMI in Europe.
- However, strong PMI data in the U.S. dampened investor sentiment, leading to a decline in the currency pair.
- Investors are assessing economic dynamics, and the strengthening U.S. economy reduces expectations of rate cuts by the Federal Reserve.
- The Relative Strength Index (RSI) for EURUSD indicates a bearish momentum.
Trading Recommendation:
- A sell order is recommended from the current price level, considering the bearish momentum and the weakening euro.
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#FreshForex #Analytics #Finance #EURUSD #FOMC #ECB #Currencies
Key Events Today:
1. 16:15 MSK. ECB Decision on Interest Rates in the Eurozone.
- Impact on EUR: Anticipated changes in the main interest rate could influence the euro's exchange rate. Investors are closely monitoring the ECB's comments and decisions regarding monetary policy.
2. 16:30 MSK. GDP Price Index in the United States.
- Impact on USD: The release of GDP data can affect the U.S. dollar. Economic activity growth usually supports the national currency.
3. 16:45 MSK. ECB Press Conference.
- Impact on EUR: Statements from ECB representatives may influence the current situation and future prospects in the eurozone.
Market Events for EURUSD:
- EURUSD rose above 1.0930 after an unexpected increase in the manufacturing component of the PMI in Europe.
- However, strong PMI data in the U.S. dampened investor sentiment, leading to a decline in the currency pair.
- Investors are assessing economic dynamics, and the strengthening U.S. economy reduces expectations of rate cuts by the Federal Reserve.
- The Relative Strength Index (RSI) for EURUSD indicates a bearish momentum.
Trading Recommendation:
- A sell order is recommended from the current price level, considering the bearish momentum and the weakening euro.
FreshForex Partner Program:
- Earn income not only from your own trades but also by attracting clients through the FreshForex partner program.
- Opportunity to earn up to $30 per lot.
#FreshForex #Analytics #Finance #EURUSD #FOMC #ECB #Currencies
Event to Watch Today: The key event to watch today is the release of the U.S. Gross Domestic Product (GDP) data for the fourth quarter on an annual basis. The data is scheduled to be published at 16:30 CET.
The GBPUSD pair continues its downtrend after retreating from the recent two-week high of 1.2774 on Wednesday. During the European session on Thursday, the GBP/USD pair is trading lower, near 1.2710.
The British Pound (GBP) initially gained support from positive Purchasing Managers' Index (PMI) data from the United Kingdom. However, this upward momentum couldn't be sustained after favorable PMI data was released from the United States.
Positive PMI data from S&P Global in the U.S. on Wednesday may reduce the likelihood of a Federal Reserve rate cut in March, leading to a decline in the GBPUSD pair.
Trading Recommendation: The trading recommendation leans towards sell orders.
#GBPUSD #FX #trading #Forex #ForexNews #ForexAnalysis #EURUSD #USDJPY #AUDUSD #XAUUSD #BTCUSD
The GBPUSD pair continues its downtrend after retreating from the recent two-week high of 1.2774 on Wednesday. During the European session on Thursday, the GBP/USD pair is trading lower, near 1.2710.
The British Pound (GBP) initially gained support from positive Purchasing Managers' Index (PMI) data from the United Kingdom. However, this upward momentum couldn't be sustained after favorable PMI data was released from the United States.
Positive PMI data from S&P Global in the U.S. on Wednesday may reduce the likelihood of a Federal Reserve rate cut in March, leading to a decline in the GBPUSD pair.
Trading Recommendation: The trading recommendation leans towards sell orders.
#GBPUSD #FX #trading #Forex #ForexNews #ForexAnalysis #EURUSD #USDJPY #AUDUSD #XAUUSD #BTCUSD
Gold prices rise on Middle East tensions, Fed meeting
Gold prices rose on Tuesday, January 30, amid growing concerns about the situation in the Middle East. In Saturday, Houthi rebels attacked a tanker owned by Trafigura, raising concerns about possible disruptions to shipping in the Red Sea.
The spot price of gold rose 0.44% to $2,027.25 an ounce by 14:41 Moscow time.
"Despite the escalation of the Middle East conflict, gold has not broken out of a narrow range. This suggests that markets are still focused on the Federal Reserve's monetary policy and the likely path of interest rate cuts," said Ricardo Evangelista of ActivTrades.
Markets expect the Fed to keep rates unchanged at the end of its two-day meeting on Thursday.
Palladium fell 0.8% to $947.86 an ounce, while silver rose 0.86% to $22.99 an ounce. Platinum prices fell 0.54% to $907.93.
#MiddleEast #Houthis #Gold #Fed
Gold prices rose on Tuesday, January 30, amid growing concerns about the situation in the Middle East. In Saturday, Houthi rebels attacked a tanker owned by Trafigura, raising concerns about possible disruptions to shipping in the Red Sea.
The spot price of gold rose 0.44% to $2,027.25 an ounce by 14:41 Moscow time.
"Despite the escalation of the Middle East conflict, gold has not broken out of a narrow range. This suggests that markets are still focused on the Federal Reserve's monetary policy and the likely path of interest rate cuts," said Ricardo Evangelista of ActivTrades.
Markets expect the Fed to keep rates unchanged at the end of its two-day meeting on Thursday.
Palladium fell 0.8% to $947.86 an ounce, while silver rose 0.86% to $22.99 an ounce. Platinum prices fell 0.54% to $907.93.
#MiddleEast #Houthis #Gold #Fed
EURUSD: 1.0815, Downward Trend Continues
The EURUSD fell during the Asian session on Wednesday, dropping to the 1.0815 area, which is within striking distance of the lowest level since December 13, reached earlier this week.
The main factors weighing on the euro are:
The JOLTS report released on Tuesday showed that the number of job openings in the United States unexpectedly rose to 9.02 million in December, suggesting that the labor market is too strong for the Federal Reserve (Fed) to begin cutting interest rates in the first quarter.
Geopolitical risks, driven by conflicts in the Middle East and economic problems in China.
However, the recent decline in U.S. Treasury yields could keep dollar bulls from aggressive bets ahead of the Fed's highly anticipated monetary policy decision, which is scheduled to be released today. Additionally, uncertainty over when the European Central Bank (ECB) will begin cutting interest rates could be a tailwind for the common currency.
Trading recommendation: Sell orders at the 1.0800 level.
#EURUSD #Fed #FedRateHike #euro #dollar #laborMarket #geopoliticalRisks
The EURUSD fell during the Asian session on Wednesday, dropping to the 1.0815 area, which is within striking distance of the lowest level since December 13, reached earlier this week.
The main factors weighing on the euro are:
The JOLTS report released on Tuesday showed that the number of job openings in the United States unexpectedly rose to 9.02 million in December, suggesting that the labor market is too strong for the Federal Reserve (Fed) to begin cutting interest rates in the first quarter.
Geopolitical risks, driven by conflicts in the Middle East and economic problems in China.
However, the recent decline in U.S. Treasury yields could keep dollar bulls from aggressive bets ahead of the Fed's highly anticipated monetary policy decision, which is scheduled to be released today. Additionally, uncertainty over when the European Central Bank (ECB) will begin cutting interest rates could be a tailwind for the common currency.
Trading recommendation: Sell orders at the 1.0800 level.
#EURUSD #Fed #FedRateHike #euro #dollar #laborMarket #geopoliticalRisks
GBPUSD: 1.2680, Downward Trend Continues
GBPUSD continued to lose ground for a second session in a row on Wednesday, falling to 1.2680 in the Asian session.
The main factors weighing on the pound are:
Risk-off sentiment is pushing investors towards the U.S. dollar (USD), which in turn is undermining the GBP/USD pair.
U.S. President Joe Biden said that after the deadly drone strike on U.S. troops in the border area between Jordan and Syria, the United States will respond to the specific situation in accordance with a multi-pronged approach.
However, the decline in U.S. Treasury yields could keep dollar bulls from aggressive bets ahead of the Fed's highly anticipated monetary policy decision, which is scheduled to be released today. Additionally, uncertainty over when the Bank of England (BoE) will begin cutting interest rates could be a tailwind for the British currency.
Trading recommendation: Sell orders from the current price level.
#GBPUSD #Fed #FedRateCut #pound #dollar #risk #geopoliticalRisks
GBPUSD continued to lose ground for a second session in a row on Wednesday, falling to 1.2680 in the Asian session.
The main factors weighing on the pound are:
Risk-off sentiment is pushing investors towards the U.S. dollar (USD), which in turn is undermining the GBP/USD pair.
U.S. President Joe Biden said that after the deadly drone strike on U.S. troops in the border area between Jordan and Syria, the United States will respond to the specific situation in accordance with a multi-pronged approach.
However, the decline in U.S. Treasury yields could keep dollar bulls from aggressive bets ahead of the Fed's highly anticipated monetary policy decision, which is scheduled to be released today. Additionally, uncertainty over when the Bank of England (BoE) will begin cutting interest rates could be a tailwind for the British currency.
Trading recommendation: Sell orders from the current price level.
#GBPUSD #Fed #FedRateCut #pound #dollar #risk #geopoliticalRisks
USDJPY: 148.00, Recovery Continues
The Japanese yen (JPY) is recovering its positive momentum on the Asian session on Wednesday, trading near its weekly high against its American counterpart, reached earlier this week.
The main factors supporting the yen are:
Concerns that the deepening conflict in the Middle East could trigger a wider war in the region.
Disappointing macroeconomic data from Japan.
The decline in U.S. Treasury yields.
The U.S. dollar (USD), on the other hand, remains in its usual range amid uncertainty over when the Federal Reserve (Fed) will begin cutting interest rates.
Trading recommendation: Consider buying at levels above 148.30.
#USDJPY #Fed #FedRateCut #dollar #yen #risk #geopoliticalRisks
The Japanese yen (JPY) is recovering its positive momentum on the Asian session on Wednesday, trading near its weekly high against its American counterpart, reached earlier this week.
The main factors supporting the yen are:
Concerns that the deepening conflict in the Middle East could trigger a wider war in the region.
Disappointing macroeconomic data from Japan.
The decline in U.S. Treasury yields.
The U.S. dollar (USD), on the other hand, remains in its usual range amid uncertainty over when the Federal Reserve (Fed) will begin cutting interest rates.
Trading recommendation: Consider buying at levels above 148.30.
#USDJPY #Fed #FedRateCut #dollar #yen #risk #geopoliticalRisks
Gold Poised to End January Lower as Investors Await FOMC Decision
Price:
2033.56 USD
-5.55 (-0.27%)
Market:
Open
Neutral
Technical Analysis:
Neutral
Factors:
FOMC: Investors have scaled back bets on an early rate cut and are awaiting the Fed's decision on February 1st.
Dollar: The DXY dollar index is on track for its best monthly performance since September.
US Economy: Signs of a resilient US economy are raising the likelihood that the Fed will hold rates steady in the near future.
Other Metals:
Palladium: +0.37% to $979.79 an ounce
Silver: -0.3% to $23.09 an ounce
Platinum: -0.17% to $919.39
#gold #fomc #dollar #investment #decline #economy #us #palladium #silver #platinum
Additional Information:
The Federal Open Market Committee (FOMC) is the policymaking body of the Federal Reserve System.
The FOMC meets eight times per year to discuss monetary policy and set interest rates.
The FOMC's decision on February 1st will be closely watched by investors for clues about the future direction of interest rates.
The US dollar is a safe-haven currency that tends to appreciate in value during times of economic uncertainty.
The strength of the US dollar can make gold more expensive for investors who hold other currencies.
The US economy is the world's largest economy and a major driver of global growth.
A strong US economy can boost demand for gold, as investors seek to protect their wealth from inflation.
Disclaimer:
This information is provided for general knowledge purposes only and should not be considered as investment advice. Please consult with a qualified financial advisor before making any investment decisions.
Price:
2033.56 USD
-5.55 (-0.27%)
Market:
Open
Neutral
Technical Analysis:
Neutral
Factors:
FOMC: Investors have scaled back bets on an early rate cut and are awaiting the Fed's decision on February 1st.
Dollar: The DXY dollar index is on track for its best monthly performance since September.
US Economy: Signs of a resilient US economy are raising the likelihood that the Fed will hold rates steady in the near future.
Other Metals:
Palladium: +0.37% to $979.79 an ounce
Silver: -0.3% to $23.09 an ounce
Platinum: -0.17% to $919.39
#gold #fomc #dollar #investment #decline #economy #us #palladium #silver #platinum
Additional Information:
The Federal Open Market Committee (FOMC) is the policymaking body of the Federal Reserve System.
The FOMC meets eight times per year to discuss monetary policy and set interest rates.
The FOMC's decision on February 1st will be closely watched by investors for clues about the future direction of interest rates.
The US dollar is a safe-haven currency that tends to appreciate in value during times of economic uncertainty.
The strength of the US dollar can make gold more expensive for investors who hold other currencies.
The US economy is the world's largest economy and a major driver of global growth.
A strong US economy can boost demand for gold, as investors seek to protect their wealth from inflation.
Disclaimer:
This information is provided for general knowledge purposes only and should not be considered as investment advice. Please consult with a qualified financial advisor before making any investment decisions.
EURUSD: Forecast for February 1, 2024
Event: 6:00 PM PST, USD - ISM Manufacturing PMI
Analysis:
The EURUSD pair is trying to recover from recent losses but faces downward pressure due to Powell's hawkish stance on interest rates.
Support at 1.0800, a break below could lead to further decline to 1.0750.
Recommendation:
Wait for price to settle below 1.0800 and sell.
#EURUSD #Forex #Analysis #Forecast
Event: 6:00 PM PST, USD - ISM Manufacturing PMI
Analysis:
The EURUSD pair is trying to recover from recent losses but faces downward pressure due to Powell's hawkish stance on interest rates.
Support at 1.0800, a break below could lead to further decline to 1.0750.
Recommendation:
Wait for price to settle below 1.0800 and sell.
#EURUSD #Forex #Analysis #Forecast
GBPUSD: Forecast for February 1, 2024
Events:
3:00 PM GMT, GBP - Bank of England interest rate decision
5:15 PM GMT, GBP - Speech by BoE Governor Bailey
6:00 PM PST, USD - ISM Manufacturing PMI
Analysis:
GBPUSD is ranging between 1.2600 and 1.2800.
Bank of England expected to keep interest rate unchanged at 5.25%.
UK labor market showing signs of rebalancing, but economic outlook remains uncertain.
Recommendation:
Consider buying above 1.2700.
#GBPUSD #Forex #Analysis #Forecast
Events:
3:00 PM GMT, GBP - Bank of England interest rate decision
5:15 PM GMT, GBP - Speech by BoE Governor Bailey
6:00 PM PST, USD - ISM Manufacturing PMI
Analysis:
GBPUSD is ranging between 1.2600 and 1.2800.
Bank of England expected to keep interest rate unchanged at 5.25%.
UK labor market showing signs of rebalancing, but economic outlook remains uncertain.
Recommendation:
Consider buying above 1.2700.
#GBPUSD #Forex #Analysis #Forecast
USDJPY: Forecast for February 1, 2024
Event: 6:00 PM PST, USD - ISM Manufacturing PMI
Analysis:
Japanese yen (JPY) strengthening for the second day in a row.
US Federal Reserve dashed expectations for a March interest rate cut.
US dollar (USD) near 13-month high.
Recommendation:
Trade within the 146.00 - 147.70 range on bounces from support levels.
#USDJPY #Forex #Analysis #Forecast
Event: 6:00 PM PST, USD - ISM Manufacturing PMI
Analysis:
Japanese yen (JPY) strengthening for the second day in a row.
US Federal Reserve dashed expectations for a March interest rate cut.
US dollar (USD) near 13-month high.
Recommendation:
Trade within the 146.00 - 147.70 range on bounces from support levels.
#USDJPY #Forex #Analysis #Forecast
"US Dollar in Focus: Impact of Federal Reserve Chairman's Statements on the Market"
Today's statement by Federal Reserve Chairman Jerome Powell has become a key event in the currency market. In his remarks, he noted that a rate cut in March is too early and expressed doubts that inflation will sustainably return to the 2% level by that time. However, Powell did not rule out the possibility of rate cuts later this year, leaving the door open for a spring easing.
In light of positive data from the US Bureau of Labor Statistics published on Friday, showing an increase in employment and a rise in average wages, the US Dollar (DXY) continues to strengthen. These factors put pressure on the EUR/USD pair, which is trading around 1.0770 in the early Asian session.
Trading Recommendation: It is recommended to place a buy order for EUR/USD from the price level of 1.0800. Sales may be relevant if the price level drops below 1.0750.
#Fed #Dollar #Euro #Trading #Finance #ForexMarket
Today's statement by Federal Reserve Chairman Jerome Powell has become a key event in the currency market. In his remarks, he noted that a rate cut in March is too early and expressed doubts that inflation will sustainably return to the 2% level by that time. However, Powell did not rule out the possibility of rate cuts later this year, leaving the door open for a spring easing.
In light of positive data from the US Bureau of Labor Statistics published on Friday, showing an increase in employment and a rise in average wages, the US Dollar (DXY) continues to strengthen. These factors put pressure on the EUR/USD pair, which is trading around 1.0770 in the early Asian session.
Trading Recommendation: It is recommended to place a buy order for EUR/USD from the price level of 1.0800. Sales may be relevant if the price level drops below 1.0750.
#Fed #Dollar #Euro #Trading #Finance #ForexMarket
"Pound Sterling Under Pressure: Impact of the Dollar Index on GBP/USD"
Pound sterling continues to decline for the second consecutive session, dropping to 1.2607 during Asian trading. The strengthening of the US Dollar (DXY), reaching an eight-week high, is putting pressure on GBP/USD.
Positive market sentiments, driven by the US labor market report, reinforce expectations of maintaining Fed rates. The economic analysis from the Bank of England also indicates no need for a rate cut in the near future.
Traders await the release of the ISM Services PMI in the US to gain additional signals about the labor market's condition. It is recommended to place a sell order for GBP/USD below the price level of 1.2615.
#Pound #Dollar #GBPUSD #Trading #Economy #BankOfEngland
Pound sterling continues to decline for the second consecutive session, dropping to 1.2607 during Asian trading. The strengthening of the US Dollar (DXY), reaching an eight-week high, is putting pressure on GBP/USD.
Positive market sentiments, driven by the US labor market report, reinforce expectations of maintaining Fed rates. The economic analysis from the Bank of England also indicates no need for a rate cut in the near future.
Traders await the release of the ISM Services PMI in the US to gain additional signals about the labor market's condition. It is recommended to place a sell order for GBP/USD below the price level of 1.2615.
#Pound #Dollar #GBPUSD #Trading #Economy #BankOfEngland