
GBPUSD: the Bank of England assessed the prospects of overcoming inflationGBPUSD is showing a downtrend at 1.2320, having retreated from the local high of February 2 that was updated earlier. The asset is gradually losing ground because of the strengthening U.S. dollar, which positively assessed the normalization of the situation concerning the prospects of the financial crisis in the United States.The chairman of the U.K. confirmed the priority of the task to fight the record consumer prices for the Bank of England. Meanwhile, the February statistics showed inflation strengthening in the annual dynamics to 10.4% under the conditions of the constantly rising interest rate, which the Office the previous day raised for the eleventh time in a row, to the target value of 4.25%, but Bailey admits that this summer we will see the inflation decrease. The official also noted the growing tension in some parts of the global banking sector, but having sufficient liquidity reserves financial authorities have a sufficient set of tools to maintain stability in the economy.Resistance levels: 1.2350, 1.2400, 1.2450 and 1.2500.Support levels: 1.2283, 1.2236, 1.2176, 1.2140.USDCHF: the pair is trading in sideways dynamicsIn morning trading the currency pair USDCHF shows a contradictory trend, being in the area of 0.9180.Meanwhile Swiss franc found itself under significant pressure on Wednesday's national macroeconomic statistics, according to which economic expectations for March index from the Center for European Economic Research declined to -41.3 points from -12.3 points while estimates of a decline to only -18.9 points. However, the national currency was saved from a complete collapse to a local minimum by quarterly reports of the Swiss National Bank. Thus, the agency announced that short-term inflation expectations are losing perspective for further growth, as the last six months to a year the value was 2.4% of the forecast of 3.1%. In the longer-term outlook, the regulator intends to return inflationary pressures to 1.5%.Resistance levels are 0.9200, 0.9258, 0.9300 and 0.9350.Support levels: 0.9150, 0.9100, 0.9070, 0.9036.Gold analyticsThe price of the precious metal is developing a strong upward momentum, breaking the annual peak of February 2 in the area of 1960.0.Quotes got strong support amid bankruptcy of banking sector institutions in Europe and the United States by Credit Suisse AG and Silicon Valley Bank (SVB). The official authorities continue to assure market participants of the stable national financial system, but investors perceive such statements with caution, because they do not believe that with high inflation and expensive borrowing the stability is possible, even if using endless emission. Therefore, the metal assets group maintains high demand in the market, due to which the number of contracts in bank metal during March has significantly strengthened and, according to statistics of the Chicago Mercantile Exchange (CME Group), successfully updated the historical peak of 731.397 thousand transactions on March 13, against 155.434 thousand transactions on March 7. The markets are now under the influence of increased investment interest in metals, hence the level of contracts continues to hold high volume of open transactions. Earlier in the day, futures positions stood at 241,374,000 contracts, options positions at 45,371,000 contracts, supporting gold.Resistance levels: 2010.0, 2100.0.Support levels: 1933.0, 1856.0.Crude Oil Market ReviewDespite the outflow of investment potential into the metal group of commodities, the price of benchmark Brent crude oil is in correction, holding just above the December 2022 low of 77.00.The agreement between Russia and China on the transfer of all payments for gas and oil to the Chinese currency, which would completely exclude the U.S. dollar from circulation in the execution of contracts, continues to be discussed at various venues. The Government of Saudi Arabia is also studying the possibility of trade relations with the "Celestial Empire" on similar conditions, which already has a prospect of development after the recent deal of China National Offshore Oil Corp. with TotalEnergies SE of France for the supply of 65.0 thousand tons of LNG under settlements in yuan. Therefore, the news backdrop continues to point to the withdrawal of oil from the zone of influence of the U.S. currency.Resistance levels: 79.70, 86.10.Support levels: 75.40, ...