The European Central Bank (ECB) has raised interest rates by 25 basis points, marking its tenth consecutive rate hike since July 2022 and bringing the total increase to 450 basis points. The ECB is primarily concerned about high inflation levels, both current and projected, with concerns extending into the future.
AUD/USD: the bulls will be given a third attempt
2019-11-11 • Updated
Recommendation: BUY 0,7625 SL 0,757 TP1 0,771 TP2 0,78.
On the AUD/USD daily chart, the implementation of the inverted Bat pattern continues. Its target 88.6% is located near 0.771. Bulls twice tried to test the resistance at 0.7612 but failed to do so. As a result, an internal bar pattern was formed. A successful test of its high may lead to the restoration of the uptrend.
On the AUD/USD hourly chart, there was a realization of the Dragon pattern. If quotes move beyond the triangle, the risks for the realization of the inverted Crab pattern with target 0.78 will increase.
The upcoming August inflation data may send mixed signals. The 12-month headline inflation rate is expected to rise to 3.6%, causing concerns for the Biden administration. However, core inflation, which excludes food and energy prices, is projected to decrease to 4.3%, aligning with the Federal Reserve's goals. Past price trends influence both figures, so looking at recent data for a more accurate picture is crucial.
Oil prices have been making headlines, and their impact reaches far beyond the pump. This article explores how the surge in oil prices is changing the game for the US Dollar and the Forex market. We'll break down this complex relationship and provide actionable insights for traders, including technical analyses for XBRUSD and USDCAD.
The past several weeks have been a real triumph for the bulls in the oil market. The Brent spot price grew by 8.5% during the last month.
Gold prices are rising for three consecutive days ahead of the Federal Reserve (Fed) interest rate decision, which is expected to remain unchanged due to declining inflation and a positive economic outlook. Investors are keen on the Fed's interest rate guidance, fearing a hawkish stance that could trigger market risk aversion.
Amid concerns of a Chinese economic slowdown, reports of declining investment often overlook China's efficient investment strategy in emerging sectors for long-term growth. China has taken measures to stabilize foreign and private sector investments, like reducing the reserve requirement ratio to boost investor confidence.