ONLINE FOREX BROKER
2022-12-20 • Updated
Let’s look at what the GBP’s doing today and put things in perspective.
Against the USD, it’s testing the four-week high of 1.39. Technically, it’s already above that level but there is little reason to expect that the pair firmly established itself in that zone. The primary reason for the move of the GBP/USD is the weakness of the USD – not the strength of the pound, and the reason for that weakness is of temporary nature related to the US Treasuries. That’s why traders should expect volatility and a rather quick comeback from the USD. Therefore, looking for reversal short-term patterns to expect a following downswing in the GBP/USD would probably be an appropriate scenario.
On a long-term view, EUR/GBP is completing a tip and going back to fall to 0.85. Currently, the zone where EUR/GBP trades corresponds to the February highs. Recovering the losses in March, EUR/GBP went upwards to touch the zone 0.87-0.8720, and very possibly, that may be the end of the upswing. Therefore, for a mid-term and long-term trading strategy, expecting a drop to 0.85 in the coming weeks seems a very reasonable scenario as the British pound remains considerably strong across the board.
In a call scheduled for January 25, 00:30 am GMT+2, the Tesla Inc. team will publish the company's earnings for the final quarter of 2022 and comment on the results, projections, and outlook for the nearest future of the company.
The Netflix stock (NFLX), with a market cap of $145.17B and a whooping 10 000+% rise since its inception 16 years ago, experienced some turbulence for a short period last year while trading around the $250 share price. However, the NFLX stock quickly recovered and rose to over $300 towards the end of the previous quarter of 2022.
The Crypto market usually also has a rough time in September. Bitcoin lost 12.7% in September 2021, 17.4% in 2020, 17.5% in 2018, 21.4% in 2017 and 45.4% in 2015. The main cryptocurrency increased by 13.3% and 3.95% in 2016 and 2019, respectively.
Last year was tough for the Japanese yen. USDJPY gained more than 30% over 2022, striking above 150 in October. While anticipation of slower Fed rate hikes pulled the pair below the 130 level at the start of 2023, the speculations over the destiny of BOJ’s yield control policy grabbed the attention of the Japanese assets in the middle of January. What lies ahead for traders of the Japanese yen?
Today, at 5:00 pm (GMT +2), the Bank of Canada will publish the Overnight Rate, which represents short-term interest rates, and is pivotal to the overall pricing of the Canadian Dollar in the global markets. Let's look at how the markets are faring ahead of the BoC rates release.
In a call scheduled for January 25, 00:30 am GMT+2, Microsoft will publish the company's earnings for the final quarter of 2022 and comment on the results, projections, and outlook for the nearest future of the company.
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