See also
The market's situation remained the same. Although dollar fell in price ahead of the announcement of the outcome of the Fed meeting, which reflected traders' confidence in the inevitability of a monetary policy easing, it returned to its previous positions during Fed Chairman Jerome Powell's press conference due to the statement that even though rate hikes will not continue, a cut in rates will still not happen soon. Powell also mentioned that interest rates reached a peak, but inflation remained at an extremely high level.
In the eurozone, inflation indicators will come out today, and forecasts say that it will show a slowdown in the growth rate of consumer prices from 2.9% to 2.8%. If this happens, the European Central Bank will be the first to lower interest rates, leading to euro's decline.
As for the UK, the Bank of England will likely keep its interest rates unchanged. However, it may give a clearer signal about the imminent easing of its monetary policy, which will be a reason for pound to weaken.
EUR/USD continued to trade downwards. The level of 1.0800 will act as a variable support, in which a stabilization of the price below this level will provoke an increase in the volume of short positions. Otherwise, the pair will fluctuate above the level.
GBP/USD continues to move within the range of 1.2600/1.2800. At the moment, it lies around 1.2600/1.2700, indicating the possibility of another flat market.
You have already liked this post today
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
Analysis of Thursday's Trades 1H Chart of EUR/USD The EUR/USD currency pair traded throughout Thursday, both before and after the publication of the U.S. Nonfarm Payrolls and unemployment data
The GBP/USD currency pair on Thursday showed nearly identical movements to the EUR/USD pair. This is not surprising, as over the last five months it's not the euro
The EUR/USD currency pair traded quite expressively on Thursday. For most of the day, we observed a low-volatility sideways movement, and as soon as U.S. labor market and unemployment data
Analysis of Wednesday's Trades 1H Chart of GBP/USD On Wednesday, the GBP/USD pair plunged like a stone dropped from a skyscraper, prompting currency analysts to immediately search for the reasons
Analysis of Wednesday's Trades 1H Chart of EUR/USD On Wednesday, the EUR/USD currency pair attempted to begin a new round of downward correction, and the result of this attempt
On Wednesday, the GBP/USD currency pair crashed for no apparent reason. There was no major news in either the UK or the US that could have triggered a nearly 200-point
On Wednesday, the EUR/USD currency pair declined slightly but generally showed no inclination to follow the British pound, which had crashed by nearly 200 points. The euro remained above
E-mail/SMS
notifications
Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.
If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.
Why does your IP address show your location as the USA?
Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaTrade anyway.
We are sorry for any inconvenience caused by this message.