ONLINE FOREX BROKER
2019-11-11 • Updated
This week was shaking for the cable. At the beginning of the week, the pound continued the Friday’s downward trend.
However, it little changed ahead of the Bank of England’s meeting. Although the BOE kept interest rates unchanged at the level of 0.5%, hawkish sounding statements of the Governor made the pound rise. Mark Carney said that they are returning to targeting inflation at the two-year horizon. That is why they may raise the interest rate earlier than planned before. It caused the rally of the pound, and it could achieve the level of 1.4065 after the last close at 1.3875. However, the candle could not close at that height and fell to close at 1.3900.
The bullish trend of GBP could not fix because doubts about the Brexit deal still prevail. In addition, the significant plunge of the Dow Johns Index affected the pound as well.
The GBP/USD is moving in a horizontal trading channel between 1.3835 and 1.4000. They are support and resistance for the pair in a short-term. The next support is at 1.3741, resistance at 1.4070.
Next week traders should take into consideration CPI data that will be released on Tuesday, February 13, and Retail Sales announcement on Friday, February 16, both at 11:30 MT time.
The S&P 500 had a good week due to the impressive start of Q1 earnings and favorable inflation data. In March, the consumer price index rose 5%, lower than the previous month's 6%, and met economists' expectations.
The previous year 2022, was undoubtedly tumultuous for the stock markets, with several stocks plummeting across multiple industries. Analysts have blamed the hard times on inflation, hawkish federal reserve policies, an impending global recession, and the ongoing crisis in Ukraine. This year, however, we're beginning to see some recovery in the stock markets. This article will find a few stocks worth buying this year.
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.
Thanks to the incredible advancements in horizontal drilling and fracking technology, the United States has experienced a mind-blowing shale revolution. They've become the heavyweight champion of crude oil production, leaving Saudi Arabia and Russia in the dust. They even turned the tables and became net exporters of refined petroleum products in 2011.
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!
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