Tag: markets

July 27, 2023 BY Steffy Bogdanova

Is the Fed done hiking? Markets think so, Powell doesn’t

Market Expects No Further Hikes in 2023 According to the CME’s FedWatch tool, market participants now overwhelmingly expect that the Fed’s hikes for 2023 are over. There is currently a 78% probability of a pause in September, a 65.7% probability of a pause in November, and a 61.4% probability of a pause in December. Interestingly,…

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July 25, 2023 BY Steffy Bogdanova

Weekly data: traders concentrate on the Fed and ECB

The focus for the Fed’s press conference on Wednesday night is on whether there’s any hint about a hike in the fourth quarter. Traders mostly expect this to be the last hike of this cycle for the moment, but it’s likely that the consensus will change at least slightly after Jerome Powell’s comments. Friday’s PCE…

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July 17, 2023 BY Steffy Bogdanova

Weekly data: GBPUSD & USOIL price action

On the technical side, the price on the chart is currently in a correction status after reaching a yearly high of around $1.31. The Stochastic oscillator is in the extreme overbought levels for the last 10 sessions  indicating that a correction to the downside might still have some more power into it. On the other…

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Market Analysis
July 17, 2023 BY Steffy Bogdanova

Market Insight: Week ending 21 July

Technical View: Markets to Watch for the Week Ahead Currencies: US Dollar Testing Monthly Support It has been quite a week for the US dollar. Consistent with the US Dollar Index—a geometrically-weighted average of the dollar’s value against a basket of six major currencies, including Europe’s single currency—the greenback plunged -2.3% last week, marking its…

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European stock market experiences positive change
July 14, 2023 BY Steffy Bogdanova

Technical analysis: GBP/USD bulls remain on the offensive

Short-Term Price Action Edging North of $1.31 As evident from the H1 timeframe, buyers and sellers are squaring off around the $1.31 level, following the (almost) one-sided push north after retesting the widely watched $1.30 psychological base in early London. Overhead resistance is at $1.3154, while support can be seen at $1.3055, together with a…

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July 11, 2023 BY Steffy Bogdanova

Weekly data: GBPUSD & USOIL price action

On the technical side, the price on the chart has been making consistent gains since early March with multiple retests to break the upward trendline without being able to do so. This shows the strength of the quid against the dollar in the medium outlook. The 50 day moving average is still trading bove the…

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Market Analysis
July 10, 2023 BY Steffy Bogdanova

Market Insight: Week ending 14 July

Technical View: Markets to Watch for the Week Ahead Currencies: US Dollar Eyeing the 101.92 Low With Friday’s one-sided decline, it was a disappointing week for the Dollar Index, down -0.6%. Trend studies on the monthly timeframe show price action has been northbound since bottoming in 2008 at 70.70. Q4 (2022), as you can see,…

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