Russian-Ukrainian conflict is influencing every economic aspect…
Trade ideas for June 21-26
The US central bank turned the market upside down. It signaled that higher inflation is a concern and that it’s considering tapering policy. The USD soared versus other major currencies, while gold headed for the biggest weekly loss in 15 months. Let’s see what new moves await us this week!
The outlook for the USD is now strong, so levels below 1.20 may be more appropriate for EUR/USD. Traders will continue monitoring comments from the ECB and the Fed that are expected on Monday and Tuesday, Wednesday, and Thursday respectively. Overall, it won’t be easy for EUR/USD to recover.
The British pound will be in the center of the market’s attention not only versus the US dollar, but also against the euro, the yen, and other currencies as everything will depend on the Bank of England’s policy statement that will be out on Thursday. If the UK central bank follows the path of the Federal Reserve and acknowledges economic recovery and inflation, the GBP will recover. Otherwise it will fall.
The yellow metal dropped below $1800, as the Fed’s talk about policy normalization makes gold less attractive to investors. XAU/USD will remain under pressure as long as the price is staying below $1855. Market players will likely keep selling gold on recoveries.
At the start of last week, Brent rose to the highest levels since 2018 above $73 a barrel. Then there was a correction down on the Fed’s press conference. Still, global economic recovery and rising demand are going to keep the price supported, so the idea is to keep looking for buy opportunities.
The following information is not investment advice. Remember that trading is risky. Manage your funds carefully and remember that you can use Take Profit and Stop Loss orders to maximize your gains and limit your losses.
Last week was full of surprises! The US dollar plunged despite a better-than-expected retail sales report…
Last week was very interesting for the markets, as we saw the releases of the US Inflation and Disney’s earnings report. So let's see what we should await this week!
The Australian Bureau of Statistics will announce the updated Unemployment Rate and Employment Change data on Thursday, May 19, at 04:30 MT.
The UK Office for National Statistics will publish Consumer Price Index (CPI) data on Wednesday, May 18, at 09:00 MT.
The US Census Bureau will announce Core Retail Sales and Retail Sales on Tuesday, May 17 at 15:30 MT.