Uncategorized

The pound continues to suffer from fundamental challenges like the cost-of-living squeeze, despite a strong labor market, ahead of tricky BoE decision.
Next week is a rather bumper week in terms of the economic calendar when you consider the amount of high impact US data that deserves to be mentioned within this forecast based purely on how influential USD data has been recently. This is largely based on the saying ‘when the US catches a cold, ...

The euro area economy grew at a faster-than-estimated pace in the first quarter on net contribution from trade, revised data from Eurostat showed on Wednesday. Gross domestic product expanded 0.6 percent from the fourth quarter, when the economy had advanced 0.2 percent. The rate was revised up sharply from 0.3 percent.

more...

Japan's gross domestic product contracted an annualized 0.5 percent on year in the first quarter of 2022, the Cabinet Office said on Wednesday - beating forecasts for a decline of 1.0 percent following the 3.8 percent increase in the previous three months.

more...

Gold prices lost upside momentum this past week as the US Dollar rallied.
Solid non-farm payrolls report underscored the Fed’s economic confidence.
Crude oil prices and May’s US CPI report may keep XAU/USD pressured.

more...

Crude oil has managed to end the week on high leaving next week open to fundamental forces from both supply and demand-side factors and a resurgent USD.



The daily price for Brent Crude Oil is above 200 SMA in the bullosh area for trying to break 120 resistance level to above for the 131 resistance as the next possible target.

more...