{{val.symbol}}
{{val.value}}

Analytical Forex forecast for today, June 22, NZDUSD, EURUSD, USDJPY & Gold

EUR/USD, currency, USD/JPY, currency, NZD/USD, currency, Gold, mineral, Analytical Forex forecast for today, June 22, NZDUSD, EURUSD, USDJPY & Gold

NZD/USD: the pair remains under negative dynamics

The New Zealand currency is rapidly losing ground during the Asian session, being at the level of 0.6265 with the prospect of falling further. The NZD/USD asset has already updated the local minimum for June 16 against the background of the recovery of consumer sentiment against the US dollar and the aggravation of geopolitical risks of aggravation due to the decision of the Lithuanian authorities to restrict the transit of goods from the Russian Federation to Kaliningrad.

The negative impact is added by weak economic data from New Zealand, according to which the IPN for Q2, according to Westpac, decreased to 78.7 points from 92.1, contrary to analysts' expectations of growth to 100.00 points. The cost of dairy products showed a decrease of 1.3%, having previously increased 1.5% during the previous period, while waiting for a correction of only 0.1%. The export figure rose to $ 6.95 billion in May terms against $ 6.16 billion last month. Nevertheless, the level of the deficit in the trade balance only increased to -9.52 billion. dollars from the past -9.29 billion dollars, which is due to an increase in imports to 6.69 billion dollars from the previous 5.72 billion dollars.

  • Resistance levels: 0.6300, 0.6350, 0.6400, 0.6450.
  • Support levels: 0.6244, 0.6200, 0.6156, 0.6100.

EUR/USD: Euro resumes decline

The single currency of the eurozone is trading in a fall in a pair with the US dollar, reaching the level of 1.0500 as part of a downtrend.

The "bears" again intercepted the initiative in the asset after trying to gain a foothold in the corrective growth since the beginning of the week, which helped to resume the local maximum of June 16. Market participants refrain from additional transactions on the market amid panic caused by the statement of the Lithuanian authorities banning the transportation of transit supplies of goods to the Kaliningrad region by land. The Lithuanian government stated that the ban was announced within the framework of European Union sanctions and the restrictions affect only the list of goods that were included in the list of sanctions. In response to Lithuania's actions, the official Kremlin reserved the right to use retaliatory measures, but the Russian Foreign Ministry did not announce any specifics.

  • Resistance levels: 1.0500, 1.0550, 1.0600, 1.0640.
  • Support levels: 1.0450, 1.0400, 1.0350, 1.0300.

USD/JPY: The Central Bank of Japan put pressure on the instrument

The USD/JPY trading pair continues to strengthen its positions, reaching the level of 1356.45.

The Japanese currency was under strong pressure due to the results of the summit of the country's regulator, at which officials decided to abandon the curtailment of incentives for economic development, despite the damage to the yen's position. So, a number of officials admitted the risks of a large range of fluctuations in quotations, which could lead to violations of corporate business plans, but there were a minority of such. As a result of the meeting, the participants agreed on a monetary policy that should ensure financial stability, and not manually regulate a favorable exchange rate.

  • Resistance levels: 137.50, 140.62.
  • Support levels: 134.37, 131.25, 128.12.

Gold Prices

During the trading of the Asia-Pacific countries, the value of the precious metal shows a slight decline, being at the level of 1825.00, which allowed updating the local minimum from June 16.

The bidders took a wait-and-see position, refraining from new deals on the instrument because they are waiting for the release of inflation data in the United Kingdom and the speech of the chairman of the American regulator Jerome Powell, according to experts' expectations, which will give clarity on the further steps of the monetary policy department. A negative factor for the asset is the growing yield of US Treasury bonds on expectations of further decisions from the US Federal Reserve. Consultations on the likely restriction of imports of precious metal from the Russian Federation to European countries as part of the next package of sanctions from the EU may provide new positive signals. Denmark had already advocated such measures the day before.

  • Resistance levels: 1843.37, 1857.27, 1869.49, 1878.84.
  • Support levels: 1823.09, 1800.00, 1775.00, 1752.87.
Trader Avatar

 

Other blogs by this trader

Analytical Forex forecast for today, June 29, for USDJPY, USDCHF, Silver & Gold
USD/CHF, currency, USD/JPY, currency, Silver, mineral, Gold, mineral, Analytical Forex forecast for today, June 29, for USDJPY, USDCHF, Silver & Gold USD/JPY: the pair reached a record highThe US currency shows a mixed movement of quotations, being at the level of 136.00 within the framework of an uptrend.The USD/JPY trading instrument holds steady growth due to the fundamental positive factors formed with the onset of the week, responding to investors' expectations of an increase in the inflation rate to the next records, due to the recent decline in the cost of raw materials. Meanwhile, the Chinese authorities confirmed their intention to begin easing quarantine restrictions approved against the background of an outbreak of coronavirus infection. Such measures will become a driver for the recovery of economic activity.Resistance levels: 136.69, 137.50, 138.50, 139.50.Support levels: 135.57, 134.54, 133.70, 133.00.Silver pricesHaving lost its positions the day before, silver continues trading within the framework of mixed dynamics, being at the 20.80 mark with the prospect of further decline, having successfully updated the local minimum of June 24.The precious metal continues to be under a negative factor against the background of a strong US dollar, on the eve of waiting for comments from the head of the regulator Jerome Powell, whose position is likely to adhere to the course of tightening monetary parameters in the future in July. Experts are interested not in the fact of the growth of the key indicator itself, but in the increased pace and effectiveness of previously approved tools. At the same time, the BIS (Bank for International Settlements) declares that it is necessary to increase the pace of interest rate increases by the main regulators of developing economies, despite the risks of falling macroeconomic indicators.Resistance levels: 20.86, 21.21, 21.40, 21.69.Support levels: 20.58, 20.39, 20.00, 19.50.USD/CHF: asset expects new growth incentivesThe US dollar holds a mixed trend in trading, being at the level of 0.9560, without attempting a fundamental fall or an increase in positions. Bidders refrain from opening additional deals, waiting for positive news.So, during the day, updated data on the dynamics of US GDP for Q1 of this year and a statement by officials of key financial departments – the ECB, the US Federal Reserve and the Central Bank of England will be published. Investors remain concerned about the onset of recessions in the global economy against the background of record inflation in the United States, Europe, the United Kingdom and other regions. Wanting to return inflation indicators to their targets, regulators are tightening monetary parameters, which so far has not yielded the expected results: business activity and consumer sentiment indices continue to decline sharply, and prices are rising.Resistance levels: 0.9618, 0.9700, 0.9762, 0.9847.Support levels: 0.9520, 0.9459, 0.9400, 0.9300.Gold pricesGold quotes show moderate growth, being at the level of 1820.00.The asset receives weak support due to the news about the decline in the yield of standard ten-year securities of the US Treasury, which decreased this morning to 3.172% from the previous 3.207%. An additional positive signal to gold is given by fears of strengthening inflation on a global scale. In May alone, the consumer value of goods in the United States increased the growth rate to 8.6%, an absolute record from 1981. On the other hand, the upward potential of the instrument is restrained by the strengthening of the US dollar in anticipation of statements from the head of the US regulator Jerome Powell, most likely, who will confirm the further course for tightening monetary policy during the announced meeting in July. Economists continue to try to assess not only the increase in the interest rate, but also the effect that the tools involved give.Resistance levels: 1843.37, 1857.27, 1869.49, 1878.84.Support levels: 1828.22, 1816.62, 1800.00, 1775.00.
Jun 29, 2022 Read
Analytical Forex forecast for today, June 28, for EURUSD, GBPUSD, Brent oil & Gold
EUR/USD, currency, GBP/USD, currency, Brent Crude Oil, energetic, Gold, mineral, Analytical Forex forecast for today, June 28, for EURUSD, GBPUSD, Brent oil & Gold EUR/USD: asset expects statements from ECB officialsThe single currency of the eurozone is trading slightly lower, being in correction, having made attempts to gain a foothold with the onset of the week, allowing the EUR/USD instrument to resume the local maximum of June 10.At the moment, the market is waiting for an announcement from the European regulator about the launch of a key rate hike cycle, against which the currency pair has secured fundamental support. Recall that on the eve of the ECB President Christine Lagarde allowed the possibility of raising the rate by 25 basis points during the summit announced for July. In addition, the next stage of the indicator increase is scheduled for September. Some analysts are of the opinion that the European regulator does not fully assess the risks of inflation, repeating the mistake of the US Federal Reserve, which for a long period of time considered the strengthening of the cost of consumer goods a temporary phenomenon. In the current conditions, the US regulator is trying to correct the miscalculation by increasing the pace of monetary policy tightening, putting the national economy at risk, provoking the onset of stagflation.Resistance levels: 1.0600, 1.0640, 1.0700, 1.0747.Support levels: 1.0550, 1.0500, 1.0450, 1.0400.GBP/USD: the pair is limited in growth due to statistics from the USAThe British currency shows mixed trading dynamics, being in consolidation at 1.2270. The beginning of the trading week did not give the GBP/USD pair any significant trend reversals, allowing the pound only to update the local maximum from June 17.The instrument was prevented from securing the upward dynamics of quotations by a positive block of data on orders of long-term goods. According to statistics, the May indicator increased 0.7%, increasing by 0.4% last month, surpassing analysts' forecast of strengthening by only 0.1%. The demand for capital goods without calculating the defense and aviation segments also increased to 0.5% from the previous 0.3%. Optimistic sentiment intensified after fixing the number of unfinished contracts for the purchase of residential real estate in the United States. So, in May, their volume sank by 0.7%, after the last decline by 4.0% in April terms, against market estimates of negative trend retention at -3.7%. The annual indicator, meanwhile, continues to remain at a negative level of -13.6%, against -9.1% last month.Resistance levels: 1.2328, 1.2400, 1.2457, 1.2500.Support levels: 1.2236, 1.2163, 1.2074, 1.2000.Gold PricesThe value of the precious metal is trading with a slight increase, restoring the losses incurred the day before. The asset's positions reached the 1825.00 mark, while waiting for positive signals in the news background.A negative factor on the instrument is the growth in the yield of US Treasury bonds, which was fixed at 3.187%, having closed earlier at 3.124% a session earlier. Market participants are trying to assess the prospects of a possible embargo on metal supplies from the Russian Federation, which has already been reported by sources close to the decision-making center. According to insiders, the G7 states are likely to approve a complete ban on the import of the extracted precious metal into the Russian Federation. An additional negative signal for gold was the intention of the world regulators to continue tightening monetary parameters as part of the fight against record inflation in the regions. So, already during the announced meeting for July, the US Federal Reserve announced its readiness to raise the key rate, meanwhile the ECB also gave a comment confirming its determination to start a cycle of increasing the target.Resistance levels: 1843.37, 1857.27, 1869.49, 1878.84.Support levels: 1828.22, 1816.62, 1800.00, 1775.00.Oil Market OverviewThe price of "black gold" of the Brent reference grade showed a decline following the results of the past week, however, during Friday's trading session it returned upward dynamics, which allowed it to reach the 112.50 mark.Bidders note two events in the coming days that can make significant changes in the nature of the movement of raw materials on the market. This day, the G7 countries are holding consultations on banning the import of petroleum products from the Russian Federation, at the same time, an option is being considered to introduce a fixation of the cost of energy, which will lead to an increase in the deficit on trading platforms. In case of a positive result of the meeting on these issues, as economists expect, the official Kremlin will be able, on its own initiative, to refuse to supply goods from the eurozone and the United States, refocusing on the markets of Asian regions, which will cause an increase in the cost of raw materials.Resistance levels: 112.50, 118.75, 121.88.Support levels: 107.90, 100.00, 96.88.
Jun 28, 2022 Read
Analytical Forex forecast for today, June 27, for NZDUSD, USDCAD, USDJPY & Gold
USD/CAD, currency, USD/JPY, currency, NZD/USD, currency, Gold, mineral, Analytical Forex forecast for today, June 27, for NZDUSD, USDCAD, USDJPY & Gold NZD/USD: "bulls" consolidated the advantage in the pairThe New Zealand currency shows a slight strengthening within the framework of a confident "bullish" signal formed last Thursday. The NZD/USD instrument is trying to gain a foothold above the level of 0.6300, enlisting support from weak data released in the US.According to statistics, on the eve of CCI (consumer confidence index) from the University of Michigan updated a record low to 50.0 points from the previous 50.2 points, contrary to economists' expectations of maintaining positions within the previous level. Market participants focused their attention around the statistics announced for today on May orders for long-lasting goods. According to preliminary forecasts, the indicator will be reduced to 0.1% from 0.5%, not without a reason for a strong reduction in the number of purchases of motor transport. Updated data on the level of US GDP for Q1 of the current year is expected to be released this week. According to economists, the indicator will remain at the same level of -1.5%.Resistance levels: 0.6350, 0.6400, 0.6450, 0.6500.Support levels: 0.6300, 0.6244, 0.6200, 0.6156.USD/CAD: Canadian dollar under pressure due to record inflationThe US currency is trading slightly lower as part of a strong "bearish" momentum that has come since the end of the previous week. The USD/CAD instrument is in the area of 1.2880 with the prospect of a decline, having updated the local minimum from June 16.According to a report published last week by Statistics Canada, the fastest strengthening of national inflation in the last 40 years was recorded. Economists confirm an increase in food prices by an average of 9.7% and fuel. Thus, the price of gasoline increased by 12% on a monthly basis, and increased by 48% year-on-year due to an increase in the price of crude oil, which gave a signal for all petroleum products to strengthen to 95.1%, against the background of the escalation of Russia's military invasion of Ukraine and total disruptions in the supply chain. Without taking into account fuel, the inflation rate for May was adjusted from 5.8% to the current 6.3%. According to the results of a study conducted by the Angus Reid Institute, economists noted a drop in the level of prosperity among citizens: out of 5 thousand respondents, about half confirmed a significant decrease in well-being compared to the same period last year and the inability to make rent payments for housing.Resistance levels: 1.2900, 1.2950, 1.3000, 1.3050.Support levels: 1.2850, 1.2800, 1.2750, 1.2700.USD/JPY: the instrument is waiting for new signalsLast week ended for the USD/JPY pair without a single dynamics of the movement of quotations, if in the first half there was a strengthening to 137.59, then by its end the success was lost, and the positions returned to the level of 135.00.Investors took a wait-and-see attitude due to market uncertainty amid rising prices for the vast majority of goods, which was confirmed by an official source of the Japanese authorities, which put the yen under pressure. The inflation indicator in May exceeded the target mark of the national regulator for the second month in a row, but the Central Bank of Japan is in no hurry to use tools to combat inflation. As the result of a survey of department officials shows, the rising cost of prices is nothing more than a temporary phenomenon. According to officials, in the present it is necessary to maintain monetary policy, which will allow to further increase the average level of wages, which will allow inflation to return to the target. However, this decision leaves the Japanese yen further under pressure.Resistance levels: 137.50, 140.62, 143.75.Support levels: 133.50, 131.25, 128.12.Gold PricesWithin the framework of Asian trading, the value of the precious metal is trying to gain a foothold in growth, being at the level of 1835.00, for an upward breakdown. The asset started the trading week with a moderate gap on an increasing basis, which gives a signal about the mood of market participants who want to save their own capital in a safe haven asset. Positive signals to the asset are given by the news background about the likely embargo on gold imports from the Russian Federation.So, the chairman of the G7 countries, within the framework of the congress, which continues at the present time on the territory of the Bavarian Alps, has previously agreed on an agreement to ban the supply of Russian precious metal, which official sources from the US Treasury will have to announce in the coming days. The agreed measures continue the sanctions policy of Western countries against profitable sectors of the Russian economy in response to the large-scale military invasion of Ukraine. It was on gold that the Central Bank of Russia made a bet after the freezing of foreign currency assets in the amount of 300 billion. dollars held by various international financial institutions.Resistance levels: 1843.37, 1857.27, 1869.49, 1878.84.Support levels: 1828.22, 1816.62, 1800.00, 1775.00.
Jun 27, 2022 Read
Analytical Forex forecast for today, June 24, for AUDUSD, USDCHF, WTI oil & Gold
AUD/USD, currency, USD/CHF, currency, WTI Crude Oil, energetic, Gold, mineral, Analytical Forex forecast for today, June 24, for AUDUSD, USDCHF, WTI oil & Gold AUD/USD: The asset is trading at 0.6900.The Australian currency is trading corrective growth, restoring the lost positions of the last days. The AUD/USD currency pair again reached the level of 0.6900 within the framework of an uptrend, having secured support for strengthening the corrective growth of activity from the US dollar. Bidders hurriedly fix profitable deals, at the same time pay attention to weak publications from the United States. Thus, the data published on the eve from S&P Global confirmed the drawdown of the PMI positions of the US services segment to 51.6 points from the previous 53.4 points, contrary to experts' expectations of growth to 53.5 points. The manufacturing sector showed a sharp decline to 52.4 points from the previous 57.0, which is much lower than forecasts of a reduction to 56.0 points. The main PMI showed a decrease from 53.6 to 51.2 points while waiting for the level of 53.7 points.Resistance levels: 0.6950, 0.7000, 0.7050, 0.7100.Support levels: 0.6900, 0.6849, 0.6800, 0.6750.USD/CHF: US dollar remains under negative factorsThe US currency is trading in corrective growth, making attempts to restore positions, having suffered moderate losses over the past week. The USD/CHF trading instrument is trading at 0.9600, developing upward dynamics, being at the local minimum of June 3. The US currency continues to remain under pressure due to the release of weak macroeconomic indicators from the US on the eve, which showed a decline in the PMI of the manufacturing and services sectors, exceeding economists' forecasts. At the same time, the indicator for initial applications for unemployment benefits for the last 7 days on June 17 decreased to 229 thousand from the previous 231 thousand, only slightly exceeding the expectations of 227 thousand.Resistance levels: 0.9618, 0.9700, 0.9762, 0.9847.Support levels: 0.9540, 0.9459, 0.9400, 0.9300.Oil Market OverviewDuring the Asian trading session, the price of WTI grade oil showed multidirectional dynamics, holding at 104.00, approaching the local minimum on May 11.The trading asset is trading under pressure due to the comments of the head of the US Federal Reserve, who spoke before the Senate Banking Committee, in which he confirmed the continuation of the hawks' policy in further regulating monetary policy as part of the fight against record inflation. A number of economists fear that drastic tightening steps could lead the national economy into recession. Recall that during the June summit, the regulator decided to increase the key indicator by 75 basis points, which gives room for analysts to predict how the rate will change based on the results of the July meeting. A similar situation is observed in other countries – for example, the Central Bank of England decided to increase the rate for the fifth time in a row during the last meeting.Resistance levels: 105.00, 107.67, 110.00, 113.13.Support levels: 103.00, 101.09, 100.00, 98.00.Gold PricesThe precious metal quotes are trading in consolidation, having turned around from the downward dynamics earlier, within which the support levels from June 16 were updated. The asset is at the level of 1825.00. having secured support due to technical factors. The instrument received negative dynamics due to the comments of the head of the American regulator Jerome Powell, who recognized the likelihood of a recession in the national economy. At the same time, the official confirmed the commitment of the department to tough measures, under which the interest rate will continue to rise until an acceptable level of inflation stabilizes. Statements by J. Powell was also touched upon the topic of stagflation, which was actively discussed on trading platforms the day before. According to the head of the regulator, such risks do persist and it is not worth denying them completely, however, their probability under the current circumstances is very restrained. Gold gained support due to the release of weak macroeconomic statistics on the eve of the US PMI for June. The current indicators are fixed at more negative levels than experts expected, which led to an increase in the decline in the pace of economic development in the country.Resistance levels: 1843.37, 1857.27, 1869.49, 1878.84.Support levels: 1823.09, 1800.00, 1775.00, 1752.87.
Jun 24, 2022 Read
Analytical Forex forecast for today, June 23, for GBPUSD, USDTRY, USDJPY & Brent oil
GBP/USD, currency, USD/JPY, currency, USD/TRY, currency, Brent Crude Oil, energetic, Analytical Forex forecast for today, June 23, for GBPUSD, USDTRY, USDJPY & Brent oil GBP/USD: the inflation rate in the Kingdom has updated the record for 40 yearsThe British currency shows multidirectional dynamics in a pair with the US dollar, trading at 1.2260. Earlier, the instrument ended trading with the smallest deviation of positions from the indicators of the beginning of daily trading.Market participants are trying to evaluate the block of macroeconomic data from the National Statistical Service, published earlier, which reflected an increase in the rate of strengthening of inflationary pressure in May: the level was 9.1%, updating the record figure from 1982. The negative trend was caused by the factor of the rapid strengthening of the cost of electricity and raw materials in the markets, which reached a maximum from 1985, increasing in price by 22.1% due to the increased intensity of military operations in Ukraine. Meanwhile, on a monthly basis, inflation slowed down to 0.7% from the previous 2.5%, and the level of the benchmark index sank to 5.9% from 6.2%, which was able to exceed experts' forecasts for a reduction to 6.0%. RPI for May showed a strengthening of 11.7% after the previous 11.1%, ahead of market expectations of growth to 11.4%, although on a monthly basis the indicator decreased to 0.7% from the previous 3.4%, contrary to market forecasts of a decrease to 0.5%.Resistance levels: 1.2328, 1.2400, 1.2457, 1.2500.Support levels: 1.2250, 1.2163, 1.2074, 1.2000.USD/TRY: Lira positions are at a record lowDuring the trading session of the Asia-Pacific countries, the USD/TRY instrument demonstrates multidirectional dynamics, trading at the level of 17.3000.Economists believe that the situation around the Turkish currency is a consequence of direct manipulation by the authorities, in which Turkish President Recep Tayyip Erdogan is interested, promoting the idea of a wholesale rollback of the key indicator despite the situation of record inflation, which could reach the level of 73.5% in May terms. As you know, at the end of last year, the interest rate was adjusted to 14% from the previous 19%. According to the official's comments, this approach will continue in the medium term. This situation gives the strongest signal for the collapse of the Turkish lira, whose positions with the coming trading week reached the December minimum at the level of 17.3600. To date, the national regulator will adopt a further action plan on the level of repo transactions for the week, which has not been corrected since the end of last year. The further picture of monetary parameters seems to remain uncertain, because the authorities make it clear by their behavior that they do not plan to tighten monetary policy, at the same time, the tools used to combat inflation do not justify themselves.Resistance levels: 17.4055, 17.6000, 17.7500.Support levels: 17.1775, 17.0000, 16.7500, 16.6000.USD/JPY: the "American" loses the level of a record highThe US currency is trading moderately lower against the Japanese yen, rolling back from the absolute records reached since the beginning of the week. The USD/JPY asset reached 135.40 with the prospect of a decline while market participants are waiting for new signals. The fundamental factors remain the same, while the US dollar is declining under the influence of a rather technical nature.The final minutes of the Central Bank of Japan summit confirmed the growing panic towards a possible sharp weakening of the yen's position, at the same time, the regulator's policy continues to maintain a soft monetary policy. The participants of the meeting state that the strengthening of economic indicators is vulnerable, which is why, at this stage, it does not even make sense to revise the quantitative easing program. According to Japanese Prime Minister Fumio Kashida's comment, there is no need to correct monetary parameters and increase interest rates in the present. The Prime Minister confirmed that the national authorities will not follow the example of the world's central banks, even despite inflationary pressures in the world. To date, the focus of market participants is expected to release statistics on the number of applications for payments for unemployed persons from the United States.Resistance levels: 136.69, 137.50, 138.50, 139.50.Support levels: 135.57, 134.54, 133.70, 133.00.Oil Market OverviewThe cost of "black gold" continues to decline at Thursday's trading session, having suffered losses exceeding 2% in price because market participants were able to reconsider the likelihood of a recession and the demand for fuel due to the tightening of monetary parameters by major Central Banks of the world's leading economies. At the time of writing, the asset is held at 107.20. Raw materials continue to remain under pressure due to data on growing hydrocarbon reserves in the United States. A day earlier, API (American Petroleum Institute) released a report according to which weekly energy reserves increased in the amount of 5.6 million barrels, despite the onset of the summer season, during which many residents of the country prefer to travel around the country. In the medium term, experts say the most likely scenario is a further drop in the price of Brent Crude Oil.Resistance levels: 113.20, 119.23, 122.82.Support levels: 105.22, 101.11.
Jun 23, 2022 Read
Analytical Forex forecast for Tuesday, June 21, for USDCHF, USDCAD, Crude oil & Gold
USD/CAD, currency, USD/CHF, currency, Brent Crude Oil, energetic, WTI Crude Oil, energetic, Gold, mineral, Analytical Forex forecast for Tuesday, June 21, for USDCHF, USDCAD, Crude oil & Gold USD/CHF: the instrument is waiting for new signalsThe US currency is trading slightly higher in pair with the Swiss franc, reaching the level of 0.9665. Traders are in no hurry to increase transaction activity due to the weak economic calendar since the beginning of the week.The positive trend is due to the decisions of the Swiss regulator to tighten monetary policy, under which the interest rate was immediately increased by 50 basis points to the target of -0.25%, which has not been since 2007. According to the comments of officials, the measures taken are designed to keep the further growth of the Swiss franc and slow down the growth of inflation, which has exceeded the target level of 2%, being at around 2.4%. At the same time, the Government has not ruled out building up decisive measures in the medium term. According to the expectations updated the day before, the Swiss National Bank forecasts a new inflation rate at 2.8%, which will decrease to 1.9% in 2023, and in 2024 it will fall to 1.6%. Earlier, the national regulator expected 2.1%, 0.9% and 0.9%, respectively.Resistance levels: 0.9700, 0.9762, 0.9847, 0.9900.Support levels: 0.9618, 0.9540, 0.9459, 0.9400.USD/CAD: downward corrective momentumDuring Asian trading, the USD/CAD instrument shows an active decline, revealing the potential of the downward momentum that began with the onset of the week. At the time of writing, the asset reached 1.2950, updating the local minimum of June 16.The withdrawal of market participants on Tuesday is focused around the publications of the Canadian statistics unit. It is expected to release data on the index of the value of residential real estate on primary demand, which is projected to strengthen by 0.8% against an increase of 0.3% last month. Confirmed information about the release of April data on sales activity, which may show an increase of 0.8% after a decline to zero activity in March. On Wednesday, investors will expect key statistics on inflation data in May. Current market expectations allow for an increase in the growth rate to 1.1% and 7.5% from the previous figures of 0.6% and 6.8%, respectively.Resistance levels: 1.3000, 1.3050, 1.3100, 1.3150.Support levels: 1.2950, 1.2900, 1.2850, 1.2800.Oil Market OverviewQuotes of "black gold" of the benchmark Brent brand are trading with restrained growth, restoring the losses of last week's trading sessions, during which the asset reached local lows from May 24.The published statistics, which confirmed the growth of the import volume of petroleum products and oil from the PRC, provide strong support for raw materials. According to a report published by the General Customs Administration, the Russian Federation supplies oil to China by sea and via the Eastern Siberia–Pacific Ocean pipeline. The May volume of supplies reached 1.98 million barrels in daily terms, updating the absolute record, exceeding the April figure by 25%, while liquefied natural gas was fixed at 400 thousand tons, increasing 56% compared to May 2021. Experts note that the increase in supply volumes is taking place against the background of the discount policy adopted by the Russian authorities due to the economic restrictions of Western countries against the background of the military invasion of Ukraine.Resistance levels: 114.09, 116.00, 120.00, 123.24.Support levels: 112.00, 109.00, 106.00, 102.57.Gold PricesThe value of the precious metal is moving within the framework of consolidation, testing the 1840.00 mark, while waiting for new signals for further growth. The asset continues to be supported by the risks of slowing global GDP growth due to the active strengthening of inflation in emerging economies. The geopolitical crisis caused by Russia's military invasion of Ukraine is far from being resolved diplomatically, meanwhile, most countries are looking for ways to combat rising commodity prices due to the rising cost of energy. The problem that has arisen levels all attempts to restore the global economy after the recession due to the global coronavirus pandemic. Meanwhile, the level of demand for gold is limited due to the adoption of widespread tightening of monetary policy by regulators of the leading economies of the world. The asset does not give holders an interest rate of return, which forces investors to more often consider the US currency as a safe haven asset. According to experts' forecasts, the US Federal Reserve will continue to tighten monetary parameters in July, increasing the key indicator at a record pace of 75 basis points. The policy of the "hawks" will also soon be supported by the ECB.Support levels: 1807.0, 1752.0.Resistance levels: 1848.0, 1895.0.
Jun 21, 2022 Read
Analytical Forex forecast for today, June 20, for GBPUSD, USDCAD, AUDUSD and USDJPY
AUD/USD, currency, GBP/USD, currency, USD/CAD, currency, USD/JPY, currency, Analytical Forex forecast for today, June 20, for GBPUSD, USDCAD, AUDUSD and USDJPY GBP/USD: attempt to restore positionsThe British currency shows sluggish strengthening in a pair with the US dollar, making attempts to recover the losses incurred during the trading session on Friday. The GBP/USD instrument is trading within 1.2250, trying to continue its growth.Insignificant support for the asset is due to the results of the meeting of officials of the regulator of England in monetary policy. The summit participants decided to follow the example of their American colleagues and tighten monetary parameters more actively as part of the fight against rapid inflation. Pressure on consumer prices is exerted by restrictions on the employment market and strategic steps on the pricing policy of large national companies, which is intensified by the escalation of hostilities in Ukraine. The Central Bank of England increased the key indicator by 0.25%, reaching the target level of 1.25%, which is already the fifth increase in the level from December last year, which made the UK regulator the first "hawk" from the beginning of the coronavirus pandemic. Recall that several participants of the Committee meeting spoke in favor of a sharper rate of increase of the indicator by 50 basis points, nevertheless, the vote was held according to the model of the previous May meeting. At the same time, the threat of inflation for the national economy remains at a high level, which can cause a full-fledged recession.Resistance levels: 1.2250, 1.2328, 1.2400, 1.2457.Support levels: 1.2163, 1.2074, 1.2000, 1.1933.AUD/USD: there is a bullish trend in the assetDuring morning trading, the AUD/USD instrument shows steady growth, restoring the losses of last Friday. At the moment, the currency pair is holding positions at 0.6960 within the framework of upward dynamics, which may have a strong resistance to analysts' fears of a slowdown in global GDP growth.Last week, the Australian currency found significant support due to reports on the national employment market. The May labor market indicator significantly strengthened by 60.6 thousand against the previous growth of 4.4 thousand in the previous period, exceeding experts' expectations of growth by 25 thousand. Meanwhile, the unemployment rate remains at the same level of 3.9%, against expectations of a decline to 3.8%. On June 21, market participants will expect the release of the final minutes of the RBA meeting and comments by the chairman of the regulator, Philip Lowe, on further steps to raise the interest rate in the medium term.Resistance levels: 0.7000, 0.7050, 0.7100, 0.7150.Support levels: 0.6950, 0.6900, 0.6849, 0.6800.USD/JPY: "American" holds record positionsThe US currency shows a mixed trend, being at the peak at 135.00. The yen tried to move to a corrective growth in the previous week, which was unsuccessful, and the US dollar recovered all losses at the end of the trading week.The Japanese regulator continues to adhere to an ultra-soft monetary policy, keeping the rate within -10%, while the yield level of classic 10-year bonds remains at 0%. The Central Bank has expanded its program to buy an unlimited number of securities with a yield of 0.25%. Such steps found the support of the overwhelming majority of officials, only a few spoke in favor of starting a transition to a tight monetary policy. The authorities are more likely to make statements about negative effects on the national economy due to the weak yen, including rising import costs and complicating the situation for local companies with short-term forecasts, because the government has failed to complete a full recovery after the global Covid-19 pandemic.Resistance levels: 135.57, 136.50, 137.50, 138.50.Support levels: 134.54, 133.70, 133.00, 132.00.USD/CAD: May high reachedThe US currency continues to grow steadily thanks to decisive steps from the US Federal Reserve, which decided to strengthen the fight against inflation, which allows the USD/CAD pair to stay around 1.2995.The past week was marked by the decision to increase the key indicator immediately by 0.75%, reaching the target of 1.75%, which helped the national currency to increase its positions against the Canadian dollar and update the May highs of 1.3065. According to the statement of the chairman of the regulator Jerome Powell, the authorities are ready to continue the fight against inflation, which has reached the maximum values of the last 40 years, and added that the measures taken yesterday will help make the US dollar more attractive to traders. In addition, the US government continues to monitor the global economic situation in order to continue the line of further tightening of monetary parameters in the short term, if necessary.Resistance levels: 1.3065, 1.3157, 1.3360.Support levels: 1.2950, 1.2860, 1.2525.
Jun 20, 2022 Read
Analytical Forex forecast for today, June 16, EURUSD, AUDUSD, Crude oil & Gold
AUD/USD, currency, EUR/USD, currency, Brent Crude Oil, energetic, WTI Crude Oil, energetic, Gold, mineral, Analytical Forex forecast for today, June 16, EURUSD, AUDUSD, Crude oil & Gold EUR/USD: the instrument shows sideways dynamicsThe euro is trading relative stability in a pair against the US currency, testing the 1.0440 mark.As expected by a number of reputable analysts, the key indicator was increased by 0.75%, contrary to preliminary forecasts of growth by 50 basis points. The decisive step is due to the statistics of consumer prices in the United States, which was published the day before and reflected the growth of May prices, although inflation slowed slightly in April. At the same time, the agency made it clear that it intends to continue tightening monetary policy, considering a more aggressive strategy to combat high inflation. The current situation requires the regulator to increase the rate to the target of 3.4% this year. To achieve such a result, the US Federal Reserve will have to increase the indicator by 1.75% in the future of this year.Resistance levels: 1.0459, 1.0500, 1.0562, 1.0600.Support levels: 1.0400, 1.0350, 1.0300, 1.0250.AUD/USD: "bulls" took advantage in the pairThe Australian currency is trading with moderate growth, being around the 0.7000 mark within the framework of upward dynamics. The AUD/USD instrument continues to develop a positive trend, which allowed the asset to move away from the local minimum on May 12.The currency pair gained support thanks to positive data on the Australian employment market in May. According to statistics, the indicator of the employed population demonstrates a strengthening of positions by 60.6 thousand in numerical terms, showing an increase of 4.0 thousand in April the day before, contrary to the forecast of growth by 25.0 thousand. Meanwhile, the mood was driven by the strengthening of the employment rate, and the indicator of part-time employment decreased by 8,7 thousand. Unemployment positions for May remained at the same level of 3.9%, despite expectations of a decline to 3.8%.Resistance levels: 0.7050, 0.7100, 0.7150, 0.7202.Support levels: 0.7000, 0.6950, 0.6900, 0.6849.Gold PricesThe price of gold is trading with a correction of the flat movement in the area of 1830.0, maintaining the previous trend. The precious metal fluctuates within a narrow range of 1880.0 – 1800.0, showing only a slight strengthening against the background of the decisions of the US regulator on monetary policy, as part of the tightening of which the rate was raised to 1.75%.In any case, in the event of even a slight increase in the price of gold, one should not expect a reversal of the market situation, which remains negative. According to reports from the CFTC, the level of contracts remains with sellers, within which they retain 71,880 thousand contracts against 23,852 thousand contracts from buyers. In the swap dealing segment, the gap indicator is more significant: 245,231 thousand contracts are fixed for sale compared to 83,939 thousand for purchase. Last week held the balance in favor of consumers, who eliminated 3,376 thousand offers, against 4,580 thousand closed. positions by sellers. Fundamental factors provide for a low level of demand for metal, which is why the two sides of the market are not increasing their assets.Support levels: 1807.0, 1752.0.Resistance levels: 1848.0, 1895.0.Oil Market OverviewDuring the Asian trading session, the price of "black gold" of the benchmark Brent brand moves without a single dynamics of the movement of value, being at the level of 117.00. Recall, the asset showed a moderate decline due to macroeconomic data on reserves of petroleum products and oil, reducing the risks of a shortage of supply of hydrocarbons on trading platforms.According to the IEA report, the reserves of the commercial segment in global terms increased by 7 million barrels in April against March figures. Positive factors were also confirmed in the EIA: as of June 10, the mark added 2 million barrels, contrary to the expected decrease of 1.3 million barrels. The production capacity of raw materials in the United States also increased to 100 thousand barrels per day, reaching the target of 12 million barrels per day. The data published by the OPEC cartel confirms the level of demand at 3.4 million. barrels per day, leaving it without significant changes, being at the level of 100.3 million barrels per day. The organization hopes that it will be able to eliminate failures in the logistics chain in case of resumption of air flights on a regular basis, maintaining positive signals for the instrument.Resistance levels: 120.00, 123.24, 125.85, 128.60.Support levels: 116.00, 114.09, 112.00, 109.00.
Jun 16, 2022 Read
Message sent successfully.
We will contact you soon!