Pound Sterling is recovering against Dollar
The British pound has increased in value over the course of the past week in line with an ongoing improvement in investor sentiment.
Market updates on June 25
Key events ahead
US CB consumer confidence – 17:00 MT.
According to the forecasts, the indicator will decline to 132 points. Higher figures will be good for the USD.
Speech by Fed Chair Jerome Powell – 20:00 MT.
· EUR/USD has reached the resistance at 1.1411 on H4 and made a small correction towards the 1.1388 level. If the USD is supported today, the 1.1388 level will be broken and the next support levels will lie at 1.1366 and 1.1344. From the upside, the break of 1.1411 will resume the uptrend for the pair and push it to the next key levels at 1.1440 and 1.1465. RSI and Stochastic oscillators just left the overbought zone.
· USD/JPY tested the support at 106.86 on H4. If the Fed Chair Jerome Powell confirms the dovish tone of the Fed today, the next support for the pair will be placed at 106.67. If it is broken, bears will pull the pair lower to the support at 106.43. From the upside, pay attention to the 107.15, 107.42 and 107.79 levels. Here, RSI has been testing the border of the oversold zone, while stochastic indicator is moving within this zone.
· Gold has been strengthening amid the tensions between the US and Iran and the weak USD. At the moment it is testing the resistance at $1,433. The next key level will lie at $1,473. From the downside, the levels are: $1,423, $1,404 and $1,387. RSI is moving within the overbought zone.
Similar
US unemployment is soaring: a trigger for the USD
The record-high unemployment claims may pull the USD down
The CAD awaits the retail figures
Canada will post an update on change in core retail sales on March 20 at 14:30 MT time.
Latest news
Pound Sterling is recovering against Dollar
The British pound has increased in value over the course of the past week in line with an ongoing improvement in investor sentiment.
Euro zone suffers loss of economic activity
Economic activity in service sector in the Euro zone and the UK is on its lowest rates since 2009.
USD: easy there
Jerome Powell made a rare appearance in the public media this Thursday. What did he bring to the audience?
Deposit with your local payment systems
