Bank of England's Underestimated Inflation Forecasts Expose Insufficient Policy Tightening
The surprise in UK consumer inflation for May was incredibly strong, raising concerns that the Bank of England may go into overdrive with the policy tightening. GBPUSD initially tried to gain...
Daily Market Outlook, June 21, 2023
Daily Market Outlook, June 21, 2023Munnelly’s Market Commentary… Asian equity markets experienced subdued trading as they reacted to the negative performance on Wall Street and lacked positive...
GBP Sinks on Fresh CPI Surge
GBP Under PressureGBPUSD has come under fresh selling pressure today as the latest round of UK inflation data failed to inspire optimism. UK CPI in May was seen printing 8.7% on the headline reading...
USDCAD H4 | Potential bearish reversal
TitleUSDCAD H4 | Potential bearish reversalTypeBearish ReversalPreference:Price is heading towards our pivot point of 1.32772 which is a pullback resistance that aligns with a 61.8% Fibo retracement....
USDCHF H4 | React off overlap resistance
TitleUSDCHF H4 | React off overlap resistanceTypeBearish ReversalPreference:Price is currently at our pivot point of 0.89923, which represents an overlap resistance. This level aligns with a 50%...
US currency struggles to extend downside correction
US currency struggles to extend downside correction and upside pressure gradually takes upper hand. The dollar index (DXY) bounced back from 102 and rose to 102.50 points.Risk assets are also awaiting...
GBPUSD H4 | Potential bounce off support level
TitleGBPUSD H4 | Potential bounce off support levelTypeBullish BouncePreference:Price is falling towards our pivot point of 1.26815, which serves as a pullback support level. It aligns with both a...
USDJPY Pull Back As Traders Await Fed Comments
Muted USD Action for NowThe US Dollar looks to have fallen into limbo on the back of the FOMC last week. On the one hand, a pause in tightening from the Fed has seen USD weaken on the view that this...
Aussie Falls on Less Hawkish RBA Minutes
AUD Under PressureThe Australian Dollar has softened today on the back of the release of the latest RBA meeting minutes overnight. Following a second, unexpected rate-hike at the last meeting,...
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