FXTM information and reviews
FXTM
95%
OctaFX information and reviews
OctaFX
94%
XM information and reviews
XM
93%
FXCC information and reviews
FXCC
92%
Libertex information and reviews
Libertex
91%
FxPro information and reviews
FxPro
90%

World central banks are ready to raise rates


18 November 2021

The US dollar renewed its multi-year high against the yen on Wednesday after strong US data and hawkish comments from Fed policy makers strengthened expectations of an early rate hike. US retail sales rose faster-than-expected in October, a report on Tuesday showed consolidating on last week’s momentum when data revealed consumer prices rose to their highest level since 1990. Money markets are pricing in a high probability of a Fed rate increase in June, followed by another in November. The greenback rose as far as 115.00 yen, its highest since March 2017, before retreating to 114.55 yen. Statistics and the likelihood of monetary tightening in the US will keep supporting the dollar.  Strong resistance can be seen at 115.00. A breakout to the upside can trigger growth towards 115.50.

BUY STOP 115.00/TP 115.50/SL 114.80

EUR/USD

The euro initially dipped on Wednesday but recovered most of its losses after Eurozone Oct inflation data. Eurozone inflation surged to more than twice the European Central Banks target in October, with more than half of the jump due to a spike in energy prices. Eurostat said inflation in the 19 countries sharing the euro rose 0.8% month-on-month in October, for a 4.1% year-on-year surge, in line with an earlier Eurostat estimate. However, the rise in inflation is still not enough for the ECB to tighten its policy.  Immediate support is located at 1.13. A breakout below could take the pair towards 1.12.

SELL STOP 1.13/TP 1.12/SL 1.1340

GBP/USD

The pound rose against the dollar on Wednesday after data showed UK inflation rose to a 10-year high last month, which supported expectations of a rate hike from next month. The Bank of England is expected to become the first major central bank to raise interest rates since the coronavirus pandemic rocked the global economy, with markets pricing a 60 percent chance it will happen at a December 16 meeting. On Tuesday, the data showed that the UK labor market had weathered the end of the government’s program, allaying serious concerns about the risks of monetary tightening. Immediate resistance can be seen at 1.35. A breakout to the upside can drive the pair towards 1.3570.

BUY STOP 1.35/TP 1.3570/SL 1.3470

#source

Share:


Related

Gold Shows Signs of Life, But Heads Towards Another Losing Month
Gold Shows Signs of Life, But Heads Towards Another Losing Month

The precious metal is largely considered as a hedge to inflation, but it has not confirmed this status during the current year. It did kick it off with a rally, but as the Fed begun hiking rates back...

28 Sep 2022

Forex and Cryptocurrencies Forecast for September 26-30, 2022
Forex and Cryptocurrencies Forecast for September 26-30, 2022

Last week, all the attention of the markets was focused on the FOMC meeting of the US Federal Reserve, which took place on September 21. The probability of another rate hike by 75 basis points (bp)...

26 Sep 2022

Trading the SPDR S&P 500 ETF Trust
Trading the SPDR S&P 500 ETF Trust

The Standard & Poor’s (S&P) 500 Index measures the market capitalisation of the top 500 US largest corporations. Many traders and investors use the S&P 500 Index as a benchmark...

23 Sep 2022

Gold pauses as traders await Fed decision
Gold pauses as traders await Fed decision

The anticlimactic performance of gold continues as the prospect of aggressive rate hikes by central banks around the world amid heightened inflationary pressures...

21 Sep 2022

Developing a forex trading plan: All you need to know
Developing a forex trading plan: All you need to know

All forex traders have different backgrounds, market views, risk appetite, thought processes and expectations. Therefore, traders should not just blindly follow what other traders do...

20 Sep 2022

NordFX: Forex and Cryptocurrencies Forecast for September 19-23, 2022
NordFX: Forex and Cryptocurrencies Forecast for September 19-23, 2022

The World Bank said last week that risks of a recession in 2023 are growing amid simultaneous tightening of monetary policy by the world's leading Central banks and the energy crisis in Europe...

19 Sep 2022


Editors' Picks

HFM information and reviews
HFM
89%
IronFX information and reviews
IronFX
88%
FXCM information and reviews
FXCM
87%
NordFX information and reviews
NordFX
85%
Vantage information and reviews
Vantage
84%
FP Markets information and reviews
FP Markets
81%

© 2006-2022 Forex-Ratings.com

The usage of this website constitutes acceptance of the following legal information.
Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website (reviews, brokers' news, comments, analysis, quotes, forecasts or other information materials provided by Forex Ratings, as well as information provided by the partners), including graphical information about the forex companies, brokers and dealing desks, is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Forex Ratings shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about the forex companies. The entire responsibility for the contents rests with the commentators. Reprint of the materials is available only with the permission of the editorial staff.
We use cookies to improve your experience and to make your stay with us more comfortable. By using Forex-Ratings.com website you agree to the cookies policy.