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European Central Bank policymaker Fabio Panetta stated this week that at the end of 2023 the ECB might start the development of a digital Euro.
This week, Reuters reported that major investment firms had decreased their Chinese Yuan forecasts, as worse than expected Chinese economic data for April had been released.
During Monday's trading hours, a US stock decline was attributed to statistics from China, which revealed a decline in economic activity.
On Monday, the price for gold continued to decline, as the commodity price reached the lower trend line of the channel down pattern, which has guided the metal down since April 18. In addition, it was spotted that the price has been in a smaller scale descending pattern since May 5. Economic Calendar Analysis On Tuesday, at 12:30 GMT, the US Retail
During the first half of Monday's trading hours, the USD/JPY currency pair made two attempts at passing the resistance zone of the May 10 and 11 low levels at 129.49/129.80. Economic Calendar On Tuesday, at 12:30 GMT, the US Retail Sales and Core Retail Sales data will be published. The data is set to reveal whether the US consumer had continued to
Minneapolis Federal Reserve President Neel Kashkari recently stated that the Fed would do what is needed to bring down inflation. However, the measures depend on the dissipation of supply chain issues.
At the start of the week's trading, the GBP/USD currency pair reached above the resistance zone at 1.2250/1.2255 and gradually approached the 1.2300 mark. However, on Monday morning, before reaching the 1.2300 level, the price retraced down to the combined support of the 50-hour simple moving average and the 1.2220 level. Afterwards, up to the middle of the day, the GBP/USD
The EUR/USD started the week by surging above a resistance zone at 1.0415/1.0420 and afterwards confirming it as support. Economic Calendar Analysis On Tuesday, at 12:30 GMT, the US Retail Sales and Core Retail Sales data will be published. The data is set to reveal whether the US consumer had continued to make purchases in the market. To see historical move tables click
On Monday, the price for gold continued to decline, as the commodity price reached the lower trend line of the channel down pattern, which has guided the metal down since April 18. In addition, it was spotted that the price has been in a smaller scale descending pattern since May 5. At mid-day, the price had recovered and appeared to
During the first half of Monday's trading hours, the USD/JPY currency pair made two attempts at passing the resistance zone of the May 10 and 11 low levels at 129.49/129.80. A move above the 129.80 level could encounter resistance in the 130.00 mark, before reaching the 130.50/130.60 zone. Higher above, note the 131.00/131.33 levels. Meanwhile, the 129.80 level is set
At the start of the week's trading, the GBP/USD currency pair reached above the resistance zone at 1.2250/1.2255 and gradually approached the 1.2300 mark. However, on Monday morning, before reaching the 1.2300 level, the price retraced down to the combined support of the 50-hour simple moving average and the 1.2220 level. Afterwards, up to the middle of the day, the
The EUR/USD started the week by surging above a resistance zone at 1.0415/1.0420 and afterwards confirming it as support. In the near term future, a potential continuation of the surge of the Euro against the US Dollar could encounter resistance in the combination of the weekly simple pivot point at 1.0451, the 100-hour simple moving average and the 1.0450
Reuters has revealed that Tesla would pause its plans to enter the Indian markets due to a deadlock in tariff negotiations.
The price for natural gas hit a new high level at 9.0000. However, after hitting the high level, four days later, the price had once again returned to the support zone of the 2021 highs at 6.3225/6.4850. Afterwards, by the middle of May, the commodity price resumed its surge, as it approached the 8.0000 mark. If the commodity price reaches above
Since the last review of the price for Brent crude oil on April 4, the price has passed below the support line, which guided the benchmark up throughout early 2022. Despite that, the price found support in the March low levels at 96.70/98.00 and recovered until it encountered resistance at 115.00. In general, the commodity appears to have been
On Friday, the USD/CAD dropped to the support zone at 1.2897/1.2922. On Monday, the rate had shortly recovered to 1.2975, before once again declining to the 1.2897/1.2922 zone. A move below the 1.2897/1.2922 levels could look for support in the 1.2850 mark and the weekly S1 simple pivot point at 1.2842. Below these levels, note the 1.2800 level and the weekly
On Monday, the GBP/JPY currency exchange rate traded between the support of the 157.50 level and the 50-hour simple moving averages and resistance at 159.00/159.25. A move below the 157.50 level could look for support near the 157.00 mark, prior to approaching the last week's low level zone at 155.60/156.00. However, a potential surge might encounter resistance in the weekly simple pivot
Policymaker of the European Central Bank Mario Centeno stated on Friday that the central bank would start hiking interest rates in July.
At midnight to Monday, the AUD/USD currency pair shortly reached above the weekly simple pivot point at 0.6945 and the 0.6950 level. However, after shortly touching the 0.6960 level, the rate declined back below 0.6900. If the Australian Dollar declines against the US Dollar, the currency pair might look for support in the early Monday's low level at 0.6875, before
Since the start of this week's trading, the EUR/JPY currency exchange rate has been testing the resistance of the 134.28/134.42 zone. Meanwhile, during early Monday's trading, the 134.00 mark acted as support. A decline of the Euro against the Japanese Yen below the 134.00 mark and the 50-hour simple moving average would look for support in the 133.50 level.
Bitcoin and other cryptocurrencies have experienced a record week of losses due to the collapse of stablecoins.
Despite a recovery experienced on Friday, major Wall Street indices ended the week with losses from 0.5% up to 2.70%.
At mid-day on Friday, the price for Gold touched the 1,800.00 level, which acted as support and caused a recovery up to 1,820.00. Economic Calendar Analysis On Tuesday, at 12:30 GMT, the US Retail Sales and Core Retail Sales data will be published. The data is set to reveal whether the US consumer had continued to make purchases in the market. To see
By late Friday's trading hours, the USD/JPY currency pair had recovered and almost reached the 129.50 mark. Economic Calendar On Tuesday, at 12:30 GMT, the US Retail Sales and Core Retail Sales data will be published. The data is set to reveal whether the US consumer had continued to make purchases in the market. To see historical move tables click on the link