FXOpen Trader Posted June 12 Author Share Posted June 12 Market Analysis: EUR/USD Dives While USD/JPY Continues To Rise EUR/USD gained bearish momentum below the 1.0810 support. USD/JPY is rising and might take out the 157.40 resistance. Important Takeaways for EUR/USD and USD/JPY Analysis Today The Euro started a fresh decline below the 1.0810 support zone. There is a connecting bearish trend line forming with resistance at 1.0760 on the hourly chart of EUR/USD at FXOpen. USD/JPY climbed higher above the 155.25 and 156.25 levels. There is a connecting bullish trend line forming with support at 156.85 on the hourly chart at FXOpen. EUR/USD Technical Analysis On the hourly chart of EUR/USD at FXOpen, the pair struggled to clear the 1.0900 resistance zone. The Euro started a fresh decline and traded below the 1.0810 support zone against the US Dollar, as mentioned in the previous analysis. The pair even declined below 1.0760 and tested the 1.0720 zone. A low was formed near 1.0719 and the pair is now consolidating losses. On the upside, the pair is now facing resistance near the 23.6% Fib retracement level of the recent decline from the 1.0901 swing high to the 1.0719 low at 1.0760. There is also a connecting bearish trend line forming with resistance at 1.0760 and the 50-hour simple moving average. The next key resistance is near the 1.0780 level. The main resistance is 1.0810 or the 50% Fib retracement level of the recent decline from the 1.0901 swing high to the 1.0719 low. A clear move above the 1.0810 level could send the pair toward the 1.0860 resistance. An upside break above 1.0860 could set the pace for another increase. In the stated case, the pair might rise toward 1.0900. If not, the pair might resume its decline. The first major support on the EUR/USD chart is near 1.0720. The next key support is at 1.0680. If there is a downside break below 1.0680, the pair could drop toward 1.0650. The next support is near 1.0620, below which the pair could start a major decline. TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. Quote Link to comment Share on other sites More sharing options...
FXOpen Trader Posted June 12 Author Share Posted June 12 FTSE 100 Index Declines After Labour Market News The British stock index FTSE 100 (UK 100 on FXOpen) dropped nearly 1% yesterday due to the release of economic data indicating a rise in unemployment. According to ForexFactory: → The Claimant Count Change (number of unemployment benefit claims) was 50,000 (expected = 10.2k, previous month = 8.4k). This is the highest number since March 2021. → The unemployment rate slightly increased to 4.4% compared to the previous value of 4.3%. However, today the FTSE 100 (UK 100 on FXOpen) chart is showing signs of recovery. Fundamentally: → GDP news did not bring any unpleasant surprises; → Weakening in the labour market might prompt the Bank of England to lower the interest rate to stimulate the economy, which should support the stock index. TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. Quote Link to comment Share on other sites More sharing options...
FXOpen Trader Posted June 12 Author Share Posted June 12 USD/CAD Retracts from Nearly 2-Month High Yesterday, the USD/CAD exchange rate climbed above 1.3785 for the first time since mid-April. However, today's USD/CAD chart shows that it failed to consolidate at this peak and has dropped to a weekly low. These fluctuations might be interpreted as traders positioning themselves ahead of today's critical events. According to ForexFactory: At 15:30 GMT+3, US inflation data will be released; At 21:00 GMT+3, the Fed's interest rate decision will be announced; At 21:30 GMT+3, Powell's press conference will take place. TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. Quote Link to comment Share on other sites More sharing options...
FXOpen Trader Posted June 12 Author Share Posted June 12 Inflation Data and Fed Verdict Could Set Dollar's Summer Trend The US currency is gearing up for the most important trading session of the current week, and possibly even the month. Today, the US Consumer Price Index (CPI) data for May will be released. Additionally, the Federal Reserve (Fed) has a meeting scheduled today where the base interest rate will be announced, along with the regulator's dot plot forecast for the rest of the year. Considering that last Friday's employment data exceeded forecasts, many investors and experts (according to an FT-Chicago Booth survey) believe that: The Fed will reduce rates by only a quarter of a percentage point this year; Instead of three cuts, economists and traders are pricing in up to two rate cuts by the end of the year. Naturally, such hawkish market expectations are likely to support the strengthening of the US currency. However, it should be noted that the dollar is currently at medium- and long-term highs, and the likelihood of a pullback and the formation of reversal patterns is quite high. TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. Quote Link to comment Share on other sites More sharing options...
FXOpen Trader Posted June 13 Author Share Posted June 13 Dollar Falls After Inflation Data: Is a Change in Medium-Term Trends on the Horizon? The second consecutive decline in the US core consumer price index caused a sharp drop in the American currency across the board. For instance, the GBP/USD pair rose by 120 points within a couple of hours, attempting to strengthen above 1.2800. The EUR/USD pair closed Monday's “price gap” and tested 1.0850, while the USD/JPY pair briefly traded below 156.00. However, a change in medium-term trends remains highly uncertain. The Fed meeting and the publication of an updated economic forecast by the US regulator allowed the dollar to quickly recover some losses. From yesterday's Fed statement: The target range for the federal funds rate remains at 5.25–5.50%; The median forecast by FOMC members suggests one and a half rate cuts for the federal funds rate (compared to three in the March forecast). From the published data, it can be inferred that the Fed maintains a fairly hawkish stance, which could support buyers of the US currency. TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. Quote Link to comment Share on other sites More sharing options...
FXOpen Trader Posted June 13 Author Share Posted June 13 S&P 500 Index Hits Record After Major News Yesterday, significant news regarding US inflation was released. According to ForexFactory: → Year-on-year Consumer Price Index (CPI): actual = 3.3%, forecast = 3.4%, previous = 3.4%; → Month-on-month CPI: actual = 0.0%, forecast = 0.1%, previous = 0.3%; → Month-on-month Core CPI (excluding food and energy): actual = 0.2%, forecast = 0.3%, previous = 0.3%. These official figures indicate that US inflation is slowing down. This bolstered expectations that the current tight monetary policy might ease. Consequently: → the dollar weakened (as we anticipated yesterday while analysing the USD/CAD chart); → stock markets surged. Notably, the S&P 500 index (US SPX 500 mini on FXOpen) surpassed 5,444, rising approximately 1.1% within two hours following the inflation news release. Later that day, the Fed's rate decision and Powell's press conference took place: → the Fed rate remained unchanged at 5.5% (as expected); → Jerome Powell signalled a possible rate cut before the end of the year, hinting at the possibility of two cuts. TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. Quote Link to comment Share on other sites More sharing options...
FXOpen Trader Posted June 14 Author Share Posted June 14 Market Analysis: GBP/USD and EUR/GBP Poised For More Losses GBP/USD failed to climb above 1.2860 and trimmed all gains. EUR/GBP is declining and trading below the 0.8410 support level. Important Takeaways for GBP/USD and EUR/GBP Analysis Today The British Pound is showing bearish signs below 1.2800. There is a key bearish trend line forming with resistance near 1.2765 on the hourly chart of GBP/USD at FXOpen. EUR/GBP is declining and showing bearish signs below 0.8460. There is a major declining channel forming with support at 0.8410 on the hourly chart at FXOpen. GBP/USD Technical Analysis On the hourly chart of GBP/USD at FXOpen, the pair started a fresh decline from the 1.2860 zone. As mentioned in the previous analysis, the British Pound struggled to extend gains and declined below the 1.2800 support level against the US Dollar. There was a clear move below the 61.8% Fib retracement level of the upward move from the 1.2706 swing low to the 1.2860 high. The pair even settled below the 1.2765 level and the 50-hour simple moving average. The pair tested the 1.2740 support zone and the 76.4% Fib retracement level of the upward move from the 1.2706 swing low to the 1.2860 high. It is now consolidating losses above the 1.2740 level. On the upside, the GBP/USD chart indicates that the pair is facing resistance near 1.2765 and a connecting bearish trend line. The next major resistance is near the 50-hour simple moving average at 1.2780. A close above the 1.2780 resistance zone could open the doors for a move toward 1.2825. Any more gains might send it toward 1.2860. If not, the pair could resume its decline below 1.2740. On the downside, there is a key support forming near 1.2710. If there is a downside break below the 1.2710 support, the pair could accelerate lower. The next major support is near the 1.2690 zone, below which the pair could test 1.2650. Any more losses could lead the pair toward the 1.2550 support. TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. Quote Link to comment Share on other sites More sharing options...
FXOpen Trader Posted June 14 Author Share Posted June 14 NZD/USD Exchange Rate Falls from Nearly 5-Month High The NZD/USD exchange rate has dropped from its highest level in nearly five months. On Wednesday, following the release of US inflation data, the NZD/USD rate exceeded 0.6220 for the first time since 15 January 2024. However, today the rate has fallen approximately 1.3% from Friday’s peak, suggesting that the market's reaction to the US inflation news was overly emotional. According to Reuters: → Fed Chair Jerome Powell indicated a readiness to keep rates steady until clearer economic signals suggest a need for cuts. → Traders have reduced the likelihood of a Fed rate cut at the September meeting. Meanwhile, the Reserve Bank of New Zealand does not plan to cut rates at all in 2024. According to Trading Economics, any rate cuts are unlikely before mid-2025. Thus, the policies of the two central banks are balanced, and the current drop from nearly a 5-month high may be a return to a more balanced valuation after an emotional surge into overbought territory. The RSI indicator supports this view. TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. Quote Link to comment Share on other sites More sharing options...
FXOpen Trader Posted June 14 Author Share Posted June 14 European Stock Indices Decline Amid Political Uncertainty Today, the Eurostoxx 50 index (Europe 50 on FXOpen) has dropped below the early May minimum, reflecting escalating market concerns over the upcoming French elections, as reported by Reuters. Finance Minister Bruno Le Maire's acknowledgment that the current political crisis could evolve into a financial crisis has amplified fears, extending the political risk until June. How long might this decline persist? Fundamentally, statements from authorities could calm the markets. TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. Quote Link to comment Share on other sites More sharing options...
FXOpen Trader Posted June 14 Author Share Posted June 14 Watch FXOpen's 10 - 14 June Weekly Market Wrap Video Weekly Market Wrap With Gary Thomson: S&P 500 Index, US Dollar, FTSE 100 Index, Gold Price Get the latest scoop on the week's hottest headlines, all in one convenient video. Join Gary Thomson, the COO of FXOpen UK, as he breaks down the most significant news reports and shares his expert insights. S&P 500 Index Hits Record after Major News Dollar Falls after Inflation Data: is a Change in Medium-Term Trends on the Horizon? FTSE 100 Index Declines after Labour Market News Gold Price Drops after US Employment Report Stay in the know and empower yourself with our short, yet power-packed video. Watch it now and stay updated with FXOpen. Don't miss out on this invaluable opportunity to sharpen your trading skills and make informed decisions. FXOpen YouTube Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. #fxopen #fxopenyoutube #fxopenint #weeklyvideo Quote Link to comment Share on other sites More sharing options...
FXOpen Trader Posted June 17 Author Share Posted June 17 Nikkei Index Falls Below 38,000 Points This Month for First Time According to today's Nikkei 225 (Japan 225 on FXOpen) chart, the index quote dropped below 38,000 points at Monday's low, followed by a recovery (shown by an arrow). One of the drivers of the decline was the automotive sector, whose shares led during the downturn. In particular, according to Reuters, Toyota Motors' shares fell by more than 2% as the company faces difficulties due to a certification scandal. Japanese national broadcaster NHK reported that Toyota will extend the production halt for some models until the end of July. The fact that the Nikkei 225 (Japan 225 on FXOpen) price is recovering after dropping below the 38,000 mark suggests a false bearish breakout below this psychological level. TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. Quote Link to comment Share on other sites More sharing options...
FXOpen Trader Posted June 17 Author Share Posted June 17 Adobe's Stock Surges Approximately 15% After Report Publication On June 5th in the article "Is ADBE Stock Undervalued?", we highlighted several bullish signs, suggesting that the report published on June 13th could be a driver for a resumption of the uptrend. Adobe's report released on June 13th proved to be strong: → Earnings per share: Actual = $4.48, Forecast = $4.39; → Revenue: Actual = $5.309 billion, Forecast = $5.291 billion. A 10% increase compared to the same quarter last year. Furthermore, the company stated that: → AI is more of an advantage than a hindrance to business development; → “We’re seeing early success monetizing new AI technologies across our Digital Media and Digital Experience businesses,” said Shantanu Narayen, Adobe's CEO. TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. Quote Link to comment Share on other sites More sharing options...
FXOpen Trader Posted June 18 Author Share Posted June 18 Nasdaq 100 Index Reaches 20,000 Points for the First Time On 30 May, we noted some uncertainty in the price behaviour of the Nasdaq 100 (US Tech 100 mini on FXOpen) near the resistance level of 18,840, as shown by arrow #1. Following this, the price declined and tested the former resistance at 18,250 (indicated by arrow #2) – the long lower shadow on the candle indicated aggressive demand (more details in the article on the Hammer pattern). This test gave the bulls confidence to break through the 18,840 resistance. In June, the price continued to rally within the ascending channel (shown in green), which is part of a larger ascending channel (shown in blue), driven by: → prospects for AI implementation; → prospects of Fed rate cuts. Yesterday, the Nasdaq 100 (US Tech 100 mini on FXOpen) rose by approximately 1.2%, reaching the psychological level of 20,000 points. This record was supported by influential analysts raising their forecasts for US stock markets. For example: → Goldman Sachs raised the year-end 2024 target for the S&P 500 (US SPX 500 mini on FXOpen) from 5200 to 5600; → Evercore ISI increased its forecast for the same index from 4750 to 6000. Market sentiment was also buoyed by the anticipation of several comments from FOMC members scheduled for this week. These might confirm the Fed's intention to cut rates as early as September this year. TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. Quote Link to comment Share on other sites More sharing options...
FXOpen Trader Posted June 18 Author Share Posted June 18 European Currencies Adjust to Support Levels: Is Growth Possible? A week rich in macroeconomic data contributed to the decline of the euro, yen, and pound. Notably, the following events were significant: Inflation falling for the second consecutive month (0.2% against the expected 0.3%); The publication of the updated forecast from the Federal Reserve (one reduction in the federal funds rate by 0.25%, presumably in September). Nonetheless, despite the hawkish stance of the Federal Reserve and the steady slowdown in inflation, European currencies managed to stay above key levels relative to the dollar, even laying the groundwork for forming reversal patterns. TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. Quote Link to comment Share on other sites More sharing options...
FXOpen Trader Posted June 18 Author Share Posted June 18 TSLA Shares Revive After Shareholder Meeting Last week, Tesla held a shareholder meeting where the main events included: → Shareholders approving Elon Musk’s $56 billion compensation package in TSLA stock options; → Relocating the company’s legal headquarters to Texas; → Elon Musk’s statements on robotics, asserting that Optimus robots could make Tesla a $25 trillion company. Approving the massive compensation eliminated the risk of Musk leaving the company (which would likely have caused a sharp drop in TSLA stock price). The billionaire thanked shareholders and today, 18 June, posted on X (Twitter) announcing that he is working on a new master plan for Tesla’s development, likely focusing on the prospects of Optimus robots. Additionally, news emerged about the launch of Tesla Model 3 sales at a new price in China. This spurred activity in the TSLA stock market. TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. Quote Link to comment Share on other sites More sharing options...
FXOpen Trader Posted June 19 Author Share Posted June 19 Market Analysis: AUD/USD and NZD/USD Sight Steady Increase AUD/USD is attempting a recovery wave from 0.6590. NZD/USD could gain bullish momentum if there is a clear move above the 0.6150 resistance. Important Takeaways for AUD/USD and NZD/USD Analysis Today The Aussie Dollar found support near 0.6590 and is now recovering against the US Dollar. There was a break above a key bearish trend line with resistance at 0.6630 on the hourly chart of AUD/USD at FXOpen. NZD/USD is attempting a recovery wave above the 0.6110 resistance. There is a major bearish trend line forming with resistance near 0.6150 on the hourly chart of NZD/USD at FXOpen. AUD/USD Technical Analysis On the hourly chart of AUD/USD at FXOpen, the pair dipped from the 0.6700 resistance zone. The Aussie Dollar declined below 0.6660, but the bulls were active near 0.6600 against the US Dollar. A low was formed near 0.6590 and the pair is now correcting losses. There was a move above the 50% Fib retracement level of the downward move from the 0.6704 swing high to the 0.6585 low. There was also a break above a key bearish trend line with resistance at 0.6630. TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. Quote Link to comment Share on other sites More sharing options...
FXOpen Trader Posted June 19 Author Share Posted June 19 Nvidia Becomes World's Most Valuable Company According to the NVDA chart today, the share price rose yesterday to a new all-time high, surpassing $135 (after a 10-to-1 split). This pushed Nvidia's market capitalisation to $3.34 trillion, overtaking Microsoft, which is currently valued at $3.32 trillion. As CNBC reports: → Nvidia shares have risen by more than 170% this year, with a strong driver being the first-quarter earnings report released in May. → Since the end of 2022, the shares have increased more than ninefold, driven by the emergence of generative artificial intelligence. → Nvidia holds around 80% of the AI chip market used in data centres, with this business expanding thanks to purchases by OpenAI, Microsoft, Alphabet, Amazon, and Meta. What are the prospects for NVDA's share price? Will the company be able to maintain its status as the most valuable company, a title that has traditionally belonged to either Apple or Microsoft? TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. Quote Link to comment Share on other sites More sharing options...
FXOpen Trader Posted June 19 Author Share Posted June 19 Brent Crude Oil Price Hits Highest Since 1 May As the chart shows, yesterday the price of Brent crude oil rose to $84.40, which is the highest level since 1 May 2024. The demand for Brent crude oil was driven by the following factors: The holiday season and increasing consumption from automotive and aviation transport. We wrote about this in the Brent market analysis on 11 June. Let us recall that Goldman Sachs analysts suggest that by the end of the summer, the price of Brent may rise to $86 per barrel with a “ceiling” around $90. Geopolitical tension, namely: → Ukrainian drone strikes on Russian oil refining bases. → The likelihood of escalation in the Middle East. For instance, Reuters reports that Israel’s Foreign Minister Israel Katz warned of an impending “total war” with Lebanon’s Hezbollah, which is backed by Iran. TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. Quote Link to comment Share on other sites More sharing options...
FXOpen Trader Posted June 20 Author Share Posted June 20 GBP Awaits Bank of England Verdict: Volatility Ahead? GBP/USD In the first half of the current trading week, the GBP/USD pair has confidently stayed above the significant range of 1.2700-1.2650, continuously attempting to resume its upward trend. Today, everything could change. Depending on the outcome of the Bank of England meeting and the market's reaction to the officials' decision, the pair could either strengthen to 1.2860 or fall to 1.2600. Additionally, we cannot rule out the possibility of the pair continuing its sideways movement, which it has been in for over four weeks. What do experts expect from today's Bank of England meeting: The interest rate is expected to remain at 5.25%. The number of votes for a rate cut is expected to be 2, and for the rate to remain unchanged, 7. Therefore, if any officials change their stance and the current balance shifts dramatically, volatility in the pound could sharply increase. TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. Quote Link to comment Share on other sites More sharing options...
FXOpen Trader Posted June 20 Author Share Posted June 20 SNB Unexpectedly Lowers Interest Rate from 1.50% to 1.25% Today, it was announced that the Swiss National Bank (SNB) decided to lower the interest rate to 1.25%. According to ForexFactory, the analyst consensus had expected the rate to remain at 1.50%, making this decision a surprise. According to SNB Chairman Thomas Jordan: → Inflation in Switzerland is decreasing; → In recent weeks, the Swiss franc has significantly strengthened due to geopolitical tensions, and the SNB is prepared to be active in the Forex market if necessary. The market's reaction to the SNB's decision and the statements from its chairman resulted in a sharp weakening of the Swiss franc. Specifically, the USD/CHF rate rose by approximately 0.7% in the first few minutes. TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. Quote Link to comment Share on other sites More sharing options...
FXOpen Trader Posted June 21 Author Share Posted June 21 Market Analysis: Gold Price and Crude Oil Price Turn Green Gold price started a fresh increase above the $2,335 resistance level. Crude oil prices are gaining bullish momentum and might rise toward $82.50. Important Takeaways for Gold and Oil Prices Analysis Today Gold price started a decent increase from the $2,300 zone against the US Dollar. A connecting bullish trend line is forming with support near $2,345 on the hourly chart of gold at FXOpen. Crude oil prices rallied above the $79.00 and $80.00 resistance levels. There is a key rising channel forming with support at $80.85 on the hourly chart of XTI/USD at FXOpen. Gold Price Technical Analysis On the hourly chart of Gold at FXOpen, the price found support near the $2,300 zone. The price formed a base and started a fresh increase above the $2,320 level. There was a decent move above the 50-hour simple moving average and $2,335. The bulls pushed the price above the $2,350 resistance zone. Finally, the bears appeared near $2,365. A high was formed near $2,365.43 and the price is now consolidating gains. TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. Quote Link to comment Share on other sites More sharing options...
FXOpen Trader Posted June 21 Author Share Posted June 21 The Price of Gold Reached a Two-Week High As shown on the XAU/USD chart, this morning the price of gold exceeded $2360 per ounce (approximately +1.5% since the start of the week). According to Reuters, the increase in the price of gold was driven by: → Rising geopolitical tensions in the Middle East. Hezbollah leader Sayyed Hassan Nasrallah warns of an "all-out war" if Israel launches a full-scale invasion against the Lebanese militia after concluding a military cooperation agreement with Cyprus, with Cyprus potentially becoming a target for Hezbollah. → Expectations of a decrease in Fed interest rates. ANZ Research analysts note that the latest US economic data has shown improved conditions for the Fed to lower rates. High rates typically reduce the attractiveness of gold bars, which do not generate income. TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. Quote Link to comment Share on other sites More sharing options...
FXOpen Trader Posted June 21 Author Share Posted June 21 Natural Gas Price: Bullish Trend Weakens Forecasts of a hotter summer, published during April and May, led to a sustained bullish trend in the natural gas market, as this commodity is heavily used for air conditioning. Specifically: → The XNG/USD chart indicates that from 1st April to today, the price of natural gas has increased by more than 55%. → According to Bloomberg, there is a 61% chance that 2024 will be the hottest year on record, surpassing 2023. → Natural gas supplies may be unstable due to an unforeseen maintenance shutdown at the Freeport plant. TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. Quote Link to comment Share on other sites More sharing options...
FXOpen Trader Posted June 21 Author Share Posted June 21 Watch FXOpen's 17 - 21 June Weekly Market Wrap Video Weekly Market Wrap With Gary Thomson: Nasdaq 100 Index, GBP, SNB Interest rate, Brent Crude Oil Get the latest scoop on the week's hottest headlines, all in one convenient video. Join Gary Thomson, the COO of FXOpen UK, as he breaks down the most significant news reports and shares his expert insights. Nasdaq 100 Index Reaches 20,000 points for the First Time GBP Awaits Bank of England Verdict: Volatility Ahead? SNB Unexpectedly Lowers Interest Rate from 1.50% to 1.25% Brent Crude Oil Price Hits Highest Since 1 May Stay in the know and empower yourself with our short, yet power-packed video. Watch it now and stay updated with FXOpen. Don't miss out on this invaluable opportunity to sharpen your trading skills and make informed decisions. FXOpen YouTube Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. #fxopen #fxopenyoutube #fxopenint #weeklyvideo Quote Link to comment Share on other sites More sharing options...
FXOpen Trader Posted June 24 Author Share Posted June 24 S&P 500 Falls from Record High in Anticipation of Key News On Friday, at 15:30 GMT+3, the Core PCE Price Index values will be released – an economic indicator to which the Federal Reserve pays special attention when assessing inflation levels in the US. This event is likely to cause a surge of news in the financial markets, and its anticipation will influence sentiments throughout the week. On Monday morning, the S&P 500 Index (US SPX 500 mini on FXOpen) fell to 5465 points after a historical record above 5500 points was set on June 20th. The decline was contributed by Friday’s report from the National Association of Realtors, which showed a drop in existing home sales in May compared to the previous month. TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. Quote Link to comment Share on other sites More sharing options...
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