USD/JPY: the pair reached a record high
The 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 prices
Having 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 incentives
The 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 prices
Gold 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.