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British Pound at Mercy of Peers in Light Data Week: GBP/USD, GBP/JPY, GBP/AUD Price Setups

Posted by By 07/06/2023Posted inForex
In a relatively light week regarding UK macro data, the British pound could be at the mercy of some of its peers. What is the outlook for GBP/USD, GBP/JPY, and…
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Gold Gets its Groove as Markets Consolidate across the Board. Where to for XAU/USD?

Posted by By 07/06/2023Posted inForex
The gold price shrugged off a press lower earlier this week with key macro events out of the way, attention might turn toward what the Federal Reserve will do next…
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Asia Day Ahead: Modest gains in Wall Street, with economic data on watch in Asia

Posted by By 07/06/2023Posted inForex
Wall Street added modest gains to their recent rallies overnight, as the VIX pushed to yet another new low since February 2020.
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Australian Dollar Tad Softer After GDP; Is AUD/USD About to Reverse This Week’s Gains?

Posted by By 07/06/2023Posted inForex
The Australian dollar was mostly softer against the US dollar after the Australian economy grew slower than expected in the first quarter of the year. What’s next for AUD/USD?
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Crude Oil Price Skittled as Market Swallows OPEC+ Cuts. Is WTI Rangebound?

Posted by By 07/06/2023Posted inForex
Crude oil prices retreated to the middle of the range on Wednesday after catapulting higher earlier in the week on OPEC+ productions as inventory data now moves into view.
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US Dollar Outlook: EUR/USD, GBP/USD May Fall as Retail Traders Boost Upside Bets

Posted by By 06/06/2023Posted inForex
The US Dollar has been rising against the Euro and British Pound. Retail traders responded by increasing EUR/USD and GBP/USD upside exposure. Is this a bearish sign?
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Gold Price Forecast: Channel Support Holds for Now but Bearish Risks Still Present

Posted by By 06/06/2023Posted inForex
Gold prices extend recovery after bouncing off channel support, but the rebound lacks strong momentum, a sign of low conviction given recent market developments.
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The Bank of Canada: A Trader’s Guide

Posted by By 06/06/2023Posted inForex
As we approach tomorrow's pivotal meeting for the Bank of Canada (BoC), let's take a look at the history, formation and mandate of the Canadian Central Bank.
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EUR/USD Tepid Amid Market Consolidation, USD/CAD Forges Bearish Double Top

Posted by By 06/06/2023Posted inForex
EUR/USD slides on the back of disappointing European economic data. Meanwhile, USD/CAD continues to forge a bearish double-top pattern, signaling more losses could be around the corner for the pair.
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USD Price Forecast: DXY Resistance Re-Test

Posted by By 06/06/2023Posted inForex
The U.S. dollar is trading at a key area of confluence in what is a quiet trading week ahead of the FOMC and US CPI.
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