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GBPUSD The downtrend is clearly formed through charts and news The British pound initially attempted to recover during the week, but gave up gains near the crucial 1.2350 level. At this point, GBP is likely to remain under downward pressure and could fall to the 1.1850 level. Looking ahead, we believe the 1.2350 level will be an important resistance barrier, and if we manage to break below the 1.20 level, it will actually pave the way for the 1.1850 level. Of all the major currencies, the US dollar makes the most sense at the moment.
Short
by Chart_MasterPro
2
GBPCAD Bank of Canada leaves rates on hold, sees weak growthMany indicators suggest that supply and demand in the economy are now nearing equilibrium. ” Inflation is expected to return to the 2% target by the end of 2025, slightly behind July's mid-2025 forecast, "but energy prices and ongoing core inflation will The trajectory will rise even higher,” the central bank said. Inflation is expected to fall to around 2.5% in the second half of 2024, and gross domestic product is expected to grow at an annual rate of 0.8% in both the third and fourth quarters of 2023. In July, the BoC expected annual growth to be 1.5% in the third quarter. . The central bank lowered its growth forecast for 2023 to 1.2% from 1.8% in July, and the growth rate for 2024 to 0.9%, down from its previous forecast of 1.2%.
Long
by Chart_MasterPro
NZDCAD BUY | Day Trading Analysis With Volume ProfileHello Traders, here is the full analysis. Watch strong action at the current levels for BUY . GOOD LUCK! Great BUY opportunity NZDCAD I still did my best and this is the most likely count for me at the moment. Support the idea with like and follow my profile TO SEE MORE. Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 🤝 Patience is the If You Have Any Question, Feel Free To Ask 🤗 Just follow chart with idea and analysis and when you are ready come in THE GROVE | VIP GROUP, earn more and safe, wait for the signal at the right moment and make money with us💰
Long
by TheGrove
2
GBPUSD is on a strong upward trendAccording to the daily chart performance below, the price of the GBP/USD (GBP/USD) currency pair is still on a broad downtrend, and as mentioned above, stability around and below the 1.2150 support is likely to be stronger. It's possible. The bears aim to provide 1.2000 psychological support as soon as possible. Trading is quiet today due to the lack of important economic information from the UK and US on the economic calendar, but we expect investor sentiment and financial market trends to react accordingly. The strongest reaction to the movement of this currency pair. Meanwhile, during the same period, breaking the resistance levels at 1.2330 and 1.2450 was critical to breaking the downtrend for the entire currency pair.
Long
by Chart_MasterPro
EURJPY When Japan Ends Negative Exchange Rate Policy, Treasury WA majority of the 315 respondents said that the Bank of Japan will end its unprecedented policy of keeping interest rates below zero in the first half of 2024. The move marks the end of a bold experiment Japan began in 2016. The experiment has recently put Japan at odds with other major central banks, which have aggressively tightened monetary policy to fight inflation. What the Bank of Japan does and when it does it will affect global markets. The biggest outcome, according to MLIV Pulse respondents, is further disruption of large amounts of government debt. Higher yields in Japan would encourage Japanese investors, who own large holdings of U.S., European and Australian government bonds, to repatriate their funds.
Long
by Chart_MasterPro
GBPJPY All data suggests a flag pattern is formingThe USD/JPY currency pair hit its highest weekly closing price in more than 20 years. However, he was unable to close his trade above the big round . This number is clearly a major stumbling block and is being defended, as seen by the decline in volatility as price approaches this number. This may be an important point. A breakout to the upside is more likely than a reversal to the downside, and it can be explosive because it takes time to occur.
Long
by Chart_MasterPro
2
GBPUSD UK experiencing stagflationThe pound exchange rate experienced considerable turmoil last week following the release of weak statistics. The latest blow was Friday's lower-than-expected retail sales and the result of a by-election. I'm not sure if UK politics is playing a big role at the moment so I won't delve into that right now, but last week's retail sales figures spoke for themselves, especially after inflation was higher than expected. What the data actually shows is that inflation in the UK is not currently driven by demand. Therefore, we see a drop in demand and a rise in prices, which is known as stagflation. This puts the BoE in a difficult position, as it is not as simple as raising interest rates to curb inflation, and other factors need to be considered. The Bank of England's decision in November is expected to leave interest rates at least on hold, but a modest 25 basis point rise is also expected.
Short
by Chart_MasterPro
3
GBPJPY Overall inflation has declined, but some factors appear to be persisting. The latest figures from the Office for National Statistics show that inflation across the UK is falling. The consumer price index in September was 6.7% and has been stable since August. The largest monthly change was due to lower food and beverage prices, with gasoline and diesel contributing the most to upward pressure on inflation. Markets currently believe that the Bank of England is likely to keep interest rates unchanged at 5.2% at its next meeting in November. However, Pill stressed that ``(the Bank of England's) duty is not to reduce inflation,'' adding, ``It is important that we achieve the 2% target in the long term and sustainably.'' "We still have a lot of work to do," he added. We should do it to get back to 2 percent. ” UK inflation remains the highest among G7 countries. In the longer term, there are signs of a "more persistent component of inflation," with "parts of inflation lasting for 18 months to two years."
Long
by Chart_MasterPro
EURUSD Good developments for tradersSince August, the market has not priced in a full rally into the November-December session. At the end of August, the probability of an increase in November was 70% (currently down to 10%). of The probability of a rate hike in December has fluctuated between 30% and 55% since the end of August. Yes, WIRP has shifted further outside the curve (allowing for fewer cuts). But the reality is: There's another reason the 30-year Treasury yield rose to 5% in October from 3.8% in July. FRB.
Long
by Chart_MasterPro
EURJPY The yen may continue to declineInternational Monetary Fund (IMF) officials said that the yen's depreciation could further worsen as a result of the negative interest rate policy. “As for the yen, we believe exchange rates are influenced by fundamental factors. As long as interest rate differentials persist, the yen will be under downward pressure,” said Sanjaya Panth, IMF deputy director for Asia and the Pacific. He spoke on the 14th of the month. Japanese officials are under fresh pressure to prevent further depreciation of the yen. Investors now expect US interest rates to remain high for an extended period of time, while Japan will continue its negative interest rate policy. However, the IMF believes that intervention only makes sense when there are severe market abnormalities, an increased risk of financial instability, or sudden changes in inflation expectations. Asked whether the recent depreciation of the yen had prompted authorities to intervene, he said: "I don't think there are any of these three cases."
Long
by Chart_MasterPro
EURJPY The increasing trend is quite strong. Resistance can be rThe next phase of the Digital Euro project, the preparatory phase, will begin on November 1, 2023 and initially last for two years. This includes defining the rules for a digital euro and selecting providers that can develop the infrastructure and platform for a digital euro. This also includes testing and experimentation to develop a digital euro that meets both Eurosystem requirements and user needs, for example in terms of user experience, data protection, inclusive finance, and environmental footprint. . The ECB will continue to work with the public and all stakeholders during this period. After two years, the Council will decide whether to proceed with the next preparatory steps that will pave the way for the issuance and launch of a future digital euro.
Long
by Chart_MasterPro
EURUSD Many disadvantages for the USDIt’s been an abnormal week for the US Dollar so far. While the bullish trend took over for much of the past three months, the current weekly bar is showing as an inside bar with the entirety of this week’s range contained inside of the prior week. This isn’t necessarily abnormal, but it does speak to the overbought nature of the move as we came into the month of October and for the past two weeks, bulls have been unable to push up to a fresh high to continue that move, even with some strong data in the form of a Non-farm Payrolls report and a very strong outing for retail sales earlier this week. But there is great potential next week
by Chart_MasterPro
2
GBPCAD The UK economy is recovering stronglyAfter increasing 1.9% month-on-month in August, the IPPI rose 0.4% month-on-month in September. Energy and petroleum product prices rose 3.7% month-on-month in September, leading to an increase in the IPPI. Price movements for refined products were mixed. Diesel prices rose by 7.0% and gasoline prices fell by 2.3%. Crude oil, the raw material for these products, rose 9.9%. The rise in diesel fuel prices was also due to low distillate stocks in the United States and Europe. On September 21, Russia announced temporary restrictions on diesel and gasoline exports, which also contributed to the rise in global diesel prices.
Long
by Chart_MasterPro
GBPJPY Inflation in Japan is getting worse and won't stopToday, October 20, the Japanese government will begin a meeting expected to last almost two months to decide on a number of new policies, including those related to economic stimulus. In particular, opposition parties are proposing economic stimulus measures such as providing 30,000 yen in cash to low- and middle-income households. The meeting is considered extremely important for Kishida's administration, as his approval rating is at its lowest level since he took office. The policies he advocates are likely to determine his re-election.
Long
by Chart_MasterPro
GBPCAD The UK economy is gradually stabilizingA recent survey by market research firm Ipsos found that two-thirds of Canadian respondents have given up on plans to own a home. Additionally, three-quarters believe that buying a home is a privilege for the wealthy. And 71% said the real estate crisis is still ongoing. "The dream of homeownership is becoming a nightmare for an entire generation of Canadians," said Sean Simpson, vice president at Ipsos. The Ipsos survey surveyed Canadians of all ages, including those who already own a home. Sean Simpson said the results reflect Canada's attitude that homeownership is becoming increasingly unaffordable, especially for young people. Federal government data also suggests younger Canadians may be leaving the housing market. According to a Statistics Canada report last week, outstanding mortgage debt is
Long
by Chart_MasterPro
CADCHF CANADA's inflation is decreasing slightlyThe Canadian Dollar fell against the majority of G10 currencies following the release of data that showed inflation in Canada was slowing faster than economists expected. Canadian CPI inflation rose 3.8% year-on-year in September, said Statistics Canada, which makes for a sharp decrease from 4.0% in August and was below expectations for a reading of 4.0%. The month-on-month change stood at -0.1%, which was below expectations for 0.1% and 0.4% recorded in August. Meanwhile, Core CPI was down 0.1% m/m in August (2.8% y/y), while the trimmed CPI measure was at 3.7% y/y, below the 3.8% expected by markets and 3.9% previously.
Long
by Chart_MasterPro
CADJPY Recovery of currency exchange after inflationBanks and financial institutions buy and sell currencies with each other - these large institutions are the 'market' and the rate they trade at is the 'market rate'. The difference between the amount being bought and sold is the spread, which is essentially the difference between the buy and sell price. However, when currency is sold by banks to retail customers, the spread increases significantly and the profit from the transaction is therefore significantly larger. Therefore, when we focus on money transfer fees when sending money abroad, we often ignore the biggest cost: exchange rate differences.
Long
by Chart_MasterPro