Here's the scoop: The Bank of England (BOE) is set to accelerate the pace at which it shrinks its balance sheet, according to one of its deputy governors. Currently, the BOE is unwinding about £20 billion of quantitative easing every three months. The goal is to reduce the stock by around £80 billion per year through active sales and maturing assets.
Trading forecast for June 14
2019-11-11 • Updated
- The US dollar index can’t break the psychological level at $94. Even positive economic data couldn’t support the USD. PPI and core PPI figures were higher than expected. But the index is moving down.
Traders are waiting for the Fed’s meeting that will take place at 21:00 MT time on Wednesday. A rate hike is anticipated. However, if you remember the last time when the US central bank increased the interest rate, the US dollar fell as the hike was priced in. As a result, the USD may fall further. The support is at $93.50. If the Fed gives a more hawkish speech on the future rate hikes, the USD will have chances to increase. The resistance is still at $94.
On Thursday, more US economic data will be released. Retail sales and core retail sales figures will be out at 15:30 MT time. The forecast is positive, so the USD may find a support.
- Thursday will be an important day for the euro. Although the European Central Bank isn’t anticipated to raise the interest rate, traders are waiting for clues on the tapering of the quantitative easing. If the central bank declares its soon exit, the euro will be able to go up. Up to now, EUR/USD is trading above the support at 1.1750 (the pivot point). If the ECB is hawkish, the EUR/USD pair will be able to break the strong resistance at 1.18 and will move further to 1.1850. If traders don’t hear clues on the soon tapering, the euro will appear below the pivot point (1.1750).
- Although Wednesday’s economic data were not negative for the pound, GBP/USD has tested the support at 1.33. On Thursday, traders will look at retail sales data. The forecast is negative; it means that GBP/USD may stick to the support at 1.33. If the actual data is greater than the forecast one, the pair will be able to reach the resistance at 1.34.
It seems like the Canadian consumer has a firm grip on their wallet, which is no surprise given the current economic climate. Inflation in April crept up from 4.3% to 4.4%, adding to the financial woes.
On Wednesday, the US dollar weakened in anticipation of the US CPI data, which could influence market exposure. A Bloomberg survey predicts a year-on-year read of 5.0% to the end of April. Market sentiment is affected by the US debt ceiling and issues with regional banks. While the major APAC equity indices are...
Let's dive into the world of gold. Currently, the price of gold, represented by XAUUSD, is stuck in indecision, hovering around the $1,975 mark. The market is anxiously awaiting two important factors: the release of the Federal Reserve's meeting minutes and the extension of the US debt ceiling.
Hey guys, this is the last full trading week in May, and many forward-looking individuals like myself are already preparing themselves to seize whatever opportunities June may have in store. On this note, I will review a few commodities that have satisfied my quest for swing-trading opportunities in the coming month. Follow me!
The Bank of England (BoE) has dramatically shifted its economic forecasts. They no longer expect a recession in the UK and have upgraded their growth projections. This year, the BoE predicts GDP growth of +0.25%, a significant improvement from previous expectations. Next year's forecast is even more optimistic, with a projected growth of 0.75%.