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Forex

Daily Market Outlook, June 19, 2023

Daily Market Outlook, June 19, 2023Munnelly’s Market Commentary… Asian equity markets traded in negative territory overnight as investors reacted to the losses on Wall Street from Friday. Market...

Yen Left Adrift as Bank of Japan’s Dovish Position Holds Steady

The dollar is gradually recovering after major losses last week:The plunge occurred on Thursday following the release of the US import price data. In May, import prices declined by 0.6% for the month,...

Bitcoin Bulls Seize the Initiative: What’s Next?

Bitcoin rebounded from the supporting level of 25200 and formed the hammer at the end of the trading week. The asset is likely to enter the resistance zone formed between levels 30000 and 31000,...

GBPJPY Rallying on Central Bank Divergence

GBPJPY is rallying hard at the start of the week. Hawkish expectations ahead of the BOE meeting later this week are reinforcing the divergence between the BOJ and the BOE. This disparity in monetary...

UK CPI On Watch Ahead of BOE

Mixed BOE ExpectationsOn the back of the Fed and ECB meetings last week, the BOE steps into the limelight this week. Traders are widely expecting the bank to push ahead with a fresh rate hike this...

ECB Delivers Hawkish Fireworks

EUR RallyingEUR is pushing firmly higher on the back of the June ECB meeting yesterday. The single currency spiked in response to a decidedly hawkish meeting from the bank. Yesterday I outlined that...

Daily Market Outlook, June 16, 2023

Daily Market Outlook, June 16, 2023Munnelly’s Market Commentary… Asian equity markets traded higher, taking cues from the gains on Wall Street. The major indices in the US were boosted by a weaker...

EURUSD H4 | React off 1st resistance

TitleEURUSD H4 | React off 1st resistanceTypeBearish ReversalPreference:Price is currently at our pivot point of 1.09421 which is an overlap resistance. A reverse from here, price could fall to 1st...

JPY Falls As BOJ Holds Stimulus Intact

BOJ Stands FirmJPY has come under heavy selling pressure today as the BOJ kept rates on hold at its latest monetary policy meeting overnight. Despite simmering speculation that the bank might be...