The first part of the week was more than optimistic for Bitcoin. However, now it is going through the correction phase.
News to trade on October 23
- The main focus for today will be on the speech of the Bank of England governor Mark Carney in Toronto at 18:20 MT time. He can make some comments regarding the monetary policy. Yesterday new uncertainties around the Brexit pushed the British pound down. Despite the British Prime Minister Theresa May’s comments on the reaching final compromise, Eurosceptics within the UK parliament and the members of the Democratic Unionist party of Ireland will try to make illegal the solution proposed by European Union.
As a result, GBP/USD crossed the psychological support at 1.3 yesterday. For now, the pair is testing the resistance at 1.2969.
If Carney’s comments are hawkish, GBP/USD can stick above 1.3 targeting the next resistance at 1.3103. More bad news on Brexit will push the pair down to the support at 1.2877.
- The Italian Prime Minister Giuseppe Conte said Italy would adjust measures in the market if the spread between the Italian and German 10-year bond yields continues to widen. For now, EUR/USD is trying to recover. Positive news for the EUR will help the pair to stick above the resistance at 1.1521. Otherwise, it will fall below the support at 1.1421.
- Japan government maintains the modest pace of economic development. However, Japan downgraded the exports assessment following global trade tensions. At the moment, USD/JPY is falling towards the support at 112.00 (50-day MA). If the USD gains, the pair will be able to rise above the resistance at 112.97 to the next resistance at 113.41.
Follow us for more news!
On Wednesday, China posted shockingly weaker surge in retail sales as well as industrial output for April, thus increasing pressure on the Chinese cabinet to roll out more stimulus because the trade conflict with America escalates…
In April, American import prices surged less than anticipated in April due to the fact that jumps in the cost of food and petroleum were tamed by the largest tumble in the price of capital goods for a decade, dropping a hint at the fact that inflation…
On Monday, gold declined notwithstanding a lower American currency because data underpinned hopes for a Fed interest rate lift…
On Friday, European stock indices fluctuated at the beginning of the trading session…
The Reserve Bank of New Zealand will hold a meeting at 00:00 MT time on August 9.