
Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
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The British GDP contracted 20% in April, with the spearheading services sector falling 2.3%. In the first quarter of 2020, the household savings rate rose to 8.6%, while their nominal spending plunged by 2.7%, and government spending dropped by 4.1%. Most of these figures are either the highest during the recent decades or the highest ever.
The current plan of British authorities is to invest up to $6 billion into public infrastructure such as building hospitals, roads, and schools. In the meantime, Brexit was also promised to be actively addressed.
After a bullish rally in the first part of June, GBP/USD started moving downwards. Currently, all the gains of this month have been already erased. Most likely, the price will go further down towards the support at 1.2220. Over there, it is likely to bounce upwards to test the resistance of downtrend{s upper border. Eventually, it will return to the downward direction aiming at 1.2080.
Hence, we are expecting zone 1 to be this pair’s projected movement area in the nearest future, and later on zone 2 will be the target area. The above-presented fundamentals are heavy enough to keep pressing on GBP/USD. Until the Brexit process reveals some solid advancements beyond just commitments and until raw economic data brings some improvements, GBPUSD will likely have little alternative but to keep going down.
Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
Ichimoku Kinko Hyo EUR/JPY: The EUR/JPY pair is now trading within the Kumo…
Ichimoku Kinko Hyo USD/JPY: The USD/JPY pair is now trading above the Kumo…
Last year was tough for the Japanese yen. USDJPY gained more than 30% over 2022, striking above 150 in October. While anticipation of slower Fed rate hikes pulled the pair below the 130 level at the start of 2023, the speculations over the destiny of BOJ’s yield control policy grabbed the attention of the Japanese assets in the middle of January. What lies ahead for traders of the Japanese yen?
Today, at 5:00 pm (GMT +2), the Bank of Canada will publish the Overnight Rate, which represents short-term interest rates, and is pivotal to the overall pricing of the Canadian Dollar in the global markets. Let's look at how the markets are faring ahead of the BoC rates release.
In a call scheduled for January 25, 00:30 am GMT+2, Microsoft will publish the company's earnings for the final quarter of 2022 and comment on the results, projections, and outlook for the nearest future of the company.
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