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The FxPro Analyst Team

Forex: U.S. Consumer Inflation Data Disappoints

Once again, the U.S. consumer inflation data came as disappointing. Yesterday’s strong PPI raised hopes for a strong CPI release today, yet inflation acceleration did not live up to expectations. The total annual inflation rate rose from 1.9% to 2.2%. Against expectations of reaching 1.8% and still below Fed’s target of 2%, the core figure remained at 1.7% YoY. Retail sales also turned out weaker than expected. Today’s numbers create a picture of slower growth in consumer activity, the ...

The FxPro Analyst Team

Forex: A Brief Look at Gold

Gold has made significant gains throughout 2017 along with several retracements. The rally that started in July has encountered a significant correction in September. This recent correction comes after the market began to show less concern over North Korean/U.S. tensions, with investors "abandoning" the safe-haven as risk-on sentiment returned. The Fed’s hawkish position has also helped put more pressure on Gold with the break of $1,300. Gold has now settled back towards the 50-day moving ...

Alexander Kuptsikevich

Forex: The Fed caused a storm in the markets and explosive growth of USD

The Fed promises to start shrinking their balance from October and has kept the rate unchanged. However, committee's forecasts caused a powerful wave of dollar growth immediately after the publication. The committee is set to hold a third raise this year and expects to face three more rises the next year. In addition, the forecasts for GDP growth were revised up for this year from 2.2% to 2.4%. This is an unexpected turn when many market participants expected to see a downward revision. A ...

The FxPro Analyst Team

Forex: GBP/USD Bulls Test 10-day SMA Resistance

GBP/USD has rebounded around 1.15% since June 12th after the general election slump. On the 4-hourly chart, GBP/USD has been trading above the downside uptrend line support since June 13th. The Brexit negotiations, between the UK and the EU, is set to start today, June 19th. In the short term, the GBP prospects will likely subject to the progression and situation of the Brexit process. This morning in early European session, the bulls have been edging up and attempting to breach the short term ...

The FxPro Analyst Team

Forex: USD/CAD Rebounds from Major Support

USD/CAD has seen a substantial 3.65% slump since May 5th. The FOMC made a hawkish statement on Wednesday evening, June 15th, resulting in a sharp USD rebound. Thus, the USD/CAD downtrend was held above the short term major support level at 1.3200, after hitting a 3-and-a-half-month low of 1.3164, There is stronger support at the level at 1.3200, we will likely see an ongoing rebound as a correction post a slump. On the 4-hourly chart, the price has been moving from the lower band to the middle ...

The FxPro Analyst Team

Forex: USD/JPY Bears Test Significant Support at 109.00 Ahead of FOMC

USD/JPY saw a 0.6% rebound from June 7th to 13th as safe havens retreated after the release of the UK general election outcome, easing markets’ risk-off sentiment. The bulls have recovered the significant psychological level at 110.00 since Tuesday. This morning, in the European session, USD/JPY continued edging up reaching a 2-day high of 110.33 before retracing back to trade as low as 109.22. Currently JPY/USD is trading at 109.35. US retail sales, and inflation figures for May, were released ...

The FxPro Analyst Team

Forex: Gold Tests Major Support Ahead of US Data and FOMC

Spot gold hit a high of $1295.96 on June 6th, last seen on November 9th. However, it has seen a substantial 2.2% retracement since June 7th, due to profit-taking and the release of the UK general election outcome which has eased markets’ risk-off sentiment. The price has been consolidating since Friday evening, holding above the near term major support line at $1260. On the 4-hourly chart the price is still trading below the 10-SMA indicating the upside pressure remains heavy. The crucial US ...

The FxPro Analyst Team

Forex: GBP/JPY Bears Break Downtrend Line Support

GBP/JPY has seen a substantial 5.7% retracement since May 10th. The price has been trading above the downside short term major downtrend line support since May 18th. It has seen a 2% fall since the general election date, caused by the disappointing Hung Parliament outcome. This morning in early European session, the psychological support line at 140.00 was broken, the bears further broke the downtrend line support and the support line at 139.50 with increased bearish momentum. The bears are ...

The FxPro Analyst Team

Forex: GBP/USD Consolidates Post Hung Parliament Slump

The outcome of the UK general election has resulted in a Hung Parliament. Updated seats breakdown of UK general election so far is: Conservatives 318, Labour 261, SNP 35, Liberal Democrats 12 other parties 23. Following this result the Conservative Party has lost their majority in the House of Commons and will now be looking for a partner to form a coalition – likely to be the DUP. Following the Exit Polls, that were released at 22:00 BST last night, GBP/USD saw its biggest intra-day fall of ...