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In general, the GBP/USD encountered resistance in the weekly R2 simple pivot point at 1.1644. A decline followed, and at mid-day on Thursday, the 1.1550 level provided support and a surge started. At the time of writing, 14:30 GMT, the rate was heading to once again test the weekly R2 at 1.1644 and the 1.1650 level. A move above 1.1650 is
Reuters has reported that Europe's banks had been beating their profit expectations due to volatile markets and high interest rates.
The reaction to the ECB interest rate hike was a decline of the Euro against other currencies. On the EUR/USD chart it resulted in a piercing of the combined support of the 1.0000 mark, the 50-hour simple moving average and the weekly R2 simple pivot point at 0.9985. However, by 14:00 GMT, the pair was observed to have recovered
The US quarterly Advance Gross Domestic Product data has been published. The US economy has grown 2.6% instead of the market expected 2.3% growth. Moreover, the previous -0.9% decline has been revised up to -0.6%.
The US quarterly Advance Gross Domestic Product data has been published. The US economy has grown 2.6% instead of the market expected 2.3% growth. Moreover, the previous -0.9% decline has been revised up to -0.6%. The markets reacted to the news with a broad US Dollar decline, stock surge and treasury yield decline. The data indicates that the Federal Reserve
The European Central Bank just hiked its base interest rate by 0.75% up from 1.25% to 2.00%. The markets expected the 0.75% hike and it was assumed to be priced in. However, on the announcement the Euro declined in value, which was attributed to the fact that some market participants expected a 1.00% rate increase.
Due to a surge in demand for travel and hotels, Hilton has increased the company's annual profit forecasts.
The European Central Bank just hiked its base interest rate by 0.75% up from 1.25% to 2.00%. The markets expected the 0.75% hike and it was assumed to be priced in. However, on the announcement the Euro declined in value, which was attributed to the fact that some market participants expected a 1.00% rate increase.
The commodities trader Bunge has announced that the company would increase its 2022 full-year earnings forecast. The news caused a surge of the company's stock price.
Despite making an attempt to surge in late September, the USD/MXN currency pair has remained between the support range of the 2021 and 2022 low levels at 19.60/19.80 and resistance of the 50 and 200-day simple moving average. By the end of October, the pair traded between the support zone and the 50-day SMA near 20.05. A move above the
Throughout September and October, the BTC/USD has been range bound between the support zone at 17,600.00/18,830.00 and resistance at 22,000.00/24,470.00. At the end of October, the price bounced off the support zone and managed to break the resistance of the 50-day simple moving average, which kept the pair down throughout the month. A continuation of the surge is expected
Despite a decline in dealmaking, the quarterly profits of Deutsche Bank have increased. Net profit was 1.1150 billion, compared to a market estimate of 0.8350.
The Finance Minister of the United Kingdom Jeremy Hunt has stated that the new UK fiscal statement would be revealed on November 17.
The world's second largest beer brewer has revealed that in the third quarter of 2022 beer volumes increased by 8.9% instead of the expected 12.0%.
At 14:00 GMT, the Bank of Canada announced its latest Overnight Rate hike. The central bank increased its base interest rate by 0.50% instead of the market expected 0.75%. The event resulted in an immediate drop of the value of the Canadian Dollar, as the markets had priced in a 0.75% hike. The USD/CAD currency pair reacted to the news
At 14:00 GMT, the Bank of Canada announced its latest Overnight Rate hike. The central bank increased its base interest rate by 0.50% instead of the market expected 0.75%.
As the US Dollar has been experiencing a decline due to the markets thinking that the Federal Reserve would be less restrictive in their monetary policy, the price for gold has surged. On Wednesday morning, the price touched the 1,675.00 level. Economic Calendar Analysis On Thursday, the Euro will react to the European Central Bank's announcement of the Main Refinancing Rate and
In the aftermath of another intervention, the USD/JPY pair appears to be steadily declining. Namely, this week the US Dollar is experiencing a broad decline due to the markets expecting the US Federal Reserve to change its policy to be less restrictive. Economic Calendar On Thursday, the Euro will react to the European Central Bank's announcement of the Main Refinancing Rate and
The recovery of the Pound against the US Dollar continues on, as on Wednesday morning the rate reached above the 1.1600 mark. Economic Calendar On Thursday, the Euro will react to the European Central Bank's announcement of the Main Refinancing Rate and the follow up press conference. The publication of the rate and monetary policy statement is scheduled for 12:15 GMT. The
Since finding support in the 0.9700 level on Friday, the EUR/USD has been recovering. Most recently, the rate encountered resistance in the 1.0050 level and support was provided by the 1.0000 mark. Economic Calendar Analysis On Thursday, the Euro will react to the European Central Bank's announcement of the Main Refinancing Rate and the follow up press conference. The publication of the
As the US Dollar has been experiencing a decline due to the markets thinking that the Federal Reserve would be less restrictive in their monetary policy, the price for gold has surged. On Wednesday morning, the price touched the 1,675.00 level. An extension of the ongoing surge is set to face resistance at 1,678.75/1,683.85, where the early October high level zone
In the aftermath of another intervention, the USD/JPY pair appears to be steadily declining. Namely, this week the US Dollar is experiencing a broad decline due to the markets expecting the US Federal Reserve to change its policy to be less restrictive. On Wednesday morning the currency pair had reached and pierced the support of the 147.00 mark. An extension
The recovery of the Pound against the US Dollar continues on, as on Wednesday morning the rate reached above the 1.1600 mark. In the near term future, resistance to the surge might be provided by the weekly R2 simple pivot point at 1.1644. However, round levels mostly impact the pair. Note 1.1700, 1.1750 and 1.1800 levels. A potential decline is expected
Since finding support in the 0.9700 level on Friday, the EUR/USD has been recovering. Most recently, the rate encountered resistance in the 1.0050 level and support was provided by the 1.000 mark. An extension of the ongoing surge could face resistance in the combination of the upper trend line of a channel up pattern, the weekly R3 simple pivot