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During Friday's trading, the EUR/USD found support in the zone at 1.0472/1.0492 and recovered to the 1.0600 mark, which started to act as resistance. During the late hours of the day's trading, the exchange rate was trading between 1.0600 and the support of the 1.0550 mark. Economic Calendar Analysis During the week, most attention will be put on the US Consumer Price
The resistance of the 1,910.00 mark was enough to force the yellow metal's price into a decline, which shortly pierced the 1,870.00 level, before starting a recovery. However, by late Friday's trading hours, the price did not manage to reach not only above the 1,900.00 mark, but also the 1,895.00 level. If the price eventually manages to approach and pass above
On Friday, the USD/JPY currency exchange rate returned to trading to levels, where the pair was located before the volatility, which was caused by the Federal Reserve rate hike and following press conference. During the day, the rate had encountered resistance in the 130.70 and 130.80. Meanwhile, support was provided by the previous resistance zone at 130.20/130.50. If the pair continues
In the aftermath of the Bank of England rate hike, the GBP/USD rate found support in the 1.2277/1.2325 zone. Namely, the 1.2300 level appears to be acting as psychological support. Meanwhile, resistance is found in the weekly S1 simple pivot point at 1.2372 and 1.2380. A move below the 1.2277 level could result in the pair looking for support in the
During Friday's trading, the EUR/USD found support in the zone at 1.0472/1.0492 and recovered to the 1.0600 mark, which started to act as resistance. During the late hours of the day's trading, the exchange rate was trading between 1.0600 and the support of the 1.0550 mark. If the EUR/USD declines below 1.0550, the rate might once again look for support
During the week, most attention will be put on the US Consumer Price Index and Producer Price Index data. The data sets are expected to reveal the inflation in the United States in the aftermath of the first Federal Reserve Rate hike done in March. Consumer Price Index and Core Consumer Price Index number will be published on Wednesday at
During April, the Germany 40 index has continued to decline from the resistance zone at 14,830.00/14,950.00. During the review conducted on May 6th, it was spotted that the stock index has been declining in a channel down pattern. Most recently, the stocks bounced off the upper trend line of the pattern and declined to once again look for support in
In the aftermath of facing the resistance of the 200-day simple moving average, the USA Tech Stock index started a decline from the 15,275.00 level. In addition, a channel down pattern was revealed, which had guided the index since November. By May 6th, in the aftermath of the Federal Reserve's latest policy announcements, the stocks declined below the March
Lufthansa announced this week that the company expects to return to being profitable during this quarter.
At 12:30 GMT, the USD/CAD was treading near the day's low levels at 1.2812, as the United States and Canada published their respective employment statistics. In general, the US data surprised and caused a strengthening of the USD, and the Canadian data revealed the situation to be worse than forecast, which beat down the value of the Canadian Dollar. The
From a technical perspective, the 1.2718/1.2724 zone provided enough support for a surge up to the 1.2870 mark. The 1.2860/1.2870 zone acted as resistance and forced the pair into a retracement to 1.2813/1.2816. At mid-day on Friday, the pair had bounced off the combination of the 1.2813/1.2816 zone and the 200-hour simple moving average. Note that the bounce off was consistent
On Thursday, at 11:00 GMT, the Bank of England crashed the value of the Pound by revealing that the bank expects an incoming recession and inflation above 10.00%. The GBP/JPY plummeted down from the 163.00 level to 160.33. Since the event, the GBP had recovered and revealed a resistance zone at 161.50/161.60 and support at 160.30/160.40. At mid-day on Friday,
On Thursday, the Chief Economist of the European Central Bank Philip Lane stated that the central bank is preparing for rate hikes.
The AUD/USD currency exchange rate extended its decline during Friday's trading, as the pair bounced off the technical levels at 0.7120 and by the middle of the day the 0.7065 level had been touched. Note that during the decline the pair mostly ignored the 0.7100 mark. A continuation of the decline of the Australian Dollar against the USD might find support
During the first half of Friday's trading, the EUR/JPY currency exchange rate declined and found support in the 200-hour simple moving average, before suddenly surging to the resistance of the 138.00 mark and shortly reaching above it. If the Euro extends its gains against the Japanese Yen, the currency pair might encounter resistance in the 138.50 and 139.00 levels.
At mid-day on Friday, the price for Natural Gas reached above the $9.00 level, which is the highest level since August 2008.
Intercontinental Exchange, which owns the New York Stock Exchange, announced this week that the company had increased quarterly profits due to higher trading volumes.
This week, the HSBC revealed that the bank expects the euro-dollar to reach parity by the fourth quarter of 2022.
On Thursday, the Czech National Bank surprised the markets by hiking interest rates by 0.75%. The event caused an immediate spike of the value of the Czech Koruna.
At mid-day on Thursday, the price for gold bounced off the resistance of the 1,910.00 level. By 15:00 GMT, the price had declined to the 1,885.00 level. Economic Calendar Analysis On Friday, the US Dollar and the Canadian Dollar are set to react to the monthly US and Canadian employment data. Among the data will be the employment changes and unemployment rates
The USD/JPY currency pair has recovered in the aftermath of the US rate hike. By the start of the day's US trading start at 13:30 GMT, the USD/JPY had reached back up to the resistance zone at 130.20/130.50. Economic Calendar On Friday, the US Dollar and the Canadian Dollar are set to react to the monthly US and Canadian employment data. Among
On May 5th, the Bank of England hiked its interest rate from 0.75% up to 1.00%, which is the highest level in 13 years. In addition, the bank revealed how the monetary policy makers voted on the rate hike. Namely, six of the committee voted for a 0.25% hike, but three members wanted a 0.50% hike that would set the
On Thursday, comments made by the Head Economist of the ECB beat down the value of the EUR/USD, as it was revealed that the ECB is only preparing for rate hikes. By the start of the day's US trading hours, the EUR/USD had reached below the 1.0550 mark, where it encountered support. Economic Calendar Analysis On Friday, the US Dollar and the
At mid-day on Thursday, the price for gold bounced off the resistance of the 1,910.00 level. By 15:00 GMT, the price had declined to the 1,885.00 level. A continuation of the decline might look for support in the 50 and 100-hour simple moving averages near 1,880.00. In addition, note the 1,872.00/1,878.00 zone, which has acted as both support and resistance. On