Introduction
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Analysis of EURUSD
Fundamental Analysis
Ahead of Wednesday’s US ADP jobs report and HCOB PMIs, EUR/USD saw some chart turbulence. The EUR/USD pair is still stuck in a limited intraday cycle around1.0750. The EU CPI inflation report from Tuesday indicated that EU inflation was on the rise. Wednesday’s docket is jam-packed with US ADP jobs, PPIs, and EU PMIs.
EURUSD News Schedule (GMT+1)
EURUSD Chart Analysis
Analysis of GBPUSD
Fundamental Analysis
Eyes on US data and the FOMC minutes, the GBP/USD pair continues to rise beyond 1.2650. A weaker US dollar leads the GBP/USD pair to extend its climb near1.2688 during Wednesday’s early Asian session. Fed Chair Powell saw that inflation was improving, but he needed more assurance before lowering interest rates. On August 1,
financial markets anticipate a rate reduction from the BoE.
GBPUSD News Schedule
GBPUSD Chart Analysis
Analysis of GBPJPY
Fundamental Analysis
The Yen is continuing to drop as the GBP/JPY pair moves closer to 205.00. As the pair breaks past multi-year highs,
GBP/JPY is expected to cut into 205.00. On Tuesday, there were no noteworthy data points, thus the Guppy was allowed to rise. Thursday’s UK Parliamentary Elections a real most approaching.
GBPJPY Chart Analysis
Analysis of XAUUSD
Fundamental Analysis
Although long-term prospects are optimistic, gold is range bound. Due to the lack of clarity surrounding US
interest rates, a major driver of the market, gold is trading in a limited range. The Fed is still debating whether to lower interest rates, which might be good news for gold. A number of geopolitical variables point to a generally positive environment for precious metals.
XAUUSD News Schedule
XAUUSD Chart Analysis
Analysis of WTI
Fundamental Analysis
Tuesday’s turbulence in crude oil prices is tempered by the sharp decline in API. Tuesday saw a brief rise in crude oil
prices before a decline. WTI eased back to $82.50 per barrel after testing above $83.50. API revealed a worse decline in US crude oil supply than anticipated.
WTI News Schedule
WTI Chart Analysis
Conclusion:
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