Author: forex24pro

The ETH/USD quotes are trading at 1717 and continue to move as part of the development of growth and have left the limits of the downward channel. The capitalization of the Ethereum cryptocurrency at the time of publication of the forecast is $206,561,797,326. Moving averages indicate a short-term bearish trend for Ether. Prices have broken through the area between the signal lines upward, which indicates pressure from buyers and a potential continuation of growth in the value of the asset from current levels. At the moment, we can expect an attempt to develop a correction in the value of the…

The euro continues to trade above $1.06 and investors are paying particular attention to the analysis of inflation trends in the Eurozone and their possible impact on monetary policy. Core inflation in the region fell to 4.5% in September, the lowest level in a year and below market expectations of 4.8%. However, the situation is heterogeneous: in Spain and Italy, inflation is accelerating, while in Germany it is slowing down to levels not seen since the beginning of the conflict in Ukraine. The prevailing view at the moment is that the European Central Bank is unlikely to make further interest…

This week, Brent oil prices continue their upward trend, rising to $93.5 per barrel. This growth is due to several factors. One of the main factors is the OPEC+ decision to extend the reduction in oil production by 1.3 million barrels per day until the end of this year. The decision raises fears of a shortage in the oil market in the fourth quarter. In addition, Russia has imposed restrictions on fuel exports to stabilize the domestic market, and this also affects oil prices. US crude oil inventories continue to decline, which is also helping to strengthen prices. However, it…

The British pound returned above 1.22 last week after hitting a six-month low of 1.2108, a rise supported by more upbeat data on the British economy. The latest GDP report shows the UK economy grew by 0.2% in the second quarter, maintaining its lead of 1.8% compared with the last three months of 2019, before the onset of the COVID-19 pandemic. It is also worth noting that the Bank of England kept rates at September levels, but emphasized its intention to keep rates high for an extended period of time. Traders estimate the probability of a rate hike to 5.50%…

This week, the Australian dollar has shown impressive growth, breaking through the $0.64 mark and sharply recovering from its lows in eleven months. This rise was supported by several factors. Firstly, the Australian currency strengthened due to the decline in the US dollar and US government bond yields, as well as the covering of short positions. Investors are also looking ahead to the Reserve Bank of Australia’s monetary meeting next week, which is likely to keep rates unchanged for the fourth month in a row. Minutes from the RBA’s latest meeting showed the bank considered raising rates in September but…

This week, the Canadian dollar continued to strengthen, reaching a seven-week high and breaking 1.35 against the US dollar. This growth is supported by expectations of tight Bank of Canada policy and higher crude oil prices. Fresh data also points to a likely 0.1% expansion of Canadian GDP in August, raising hopes for the country’s recovery after an unexpected slowdown in the second quarter. Inflation exceeded expectations in September, which could lead to an extension of the period of tight monetary policy by the Canadian central bank. It is also important to note that the Canadian dollar is supported by…

This week, the Japanese Yen has shown weakness, breaking the level of 149 Yen per US Dollar. This level was an eleven-month low and attracted the attention of investors, as well as the Japanese government, which may consider intervention in the foreign exchange market. This entire year was characterized by a significant decline in the value of the yen as the Bank of Japan maintained its extremely loose monetary policy even as other major central banks tightened policies. At the Bank of Japan’s September meeting there were also no hints about a possible end to the policy of negative interest…

Last week, gold prices slightly increased, reaching $1,873 per ounce. The rise was driven by the release of the US Consumer Expenditures and Prices (PCE) report, which indicated moderation in inflation pressures. The core PCE price index, the Federal Reserve’s preferred measure of inflation, came in at 3.9% in August, the weakest since September 2021, in line with market expectations. The overall inflation rate also corresponds to forecasts and amounted to 3.5%. Personal income and expenses continue to grow at a stable pace and are in line with the expectations of economic analysts. However, despite these indicators, gold prices remain…

Quotes of the currency pair New Zealand Dollar against the US Dollar NZD/USD end the trading week within the framework of the fall near the level of 0.6026. Moving averages indicate a bearish trend for the pair. Prices are again testing the area between the signal lines, which indicates pressure from sellers of the currency pair and a potential continuation of the fall from current levels in the market. At the moment, we should expect an attempt to develop a bullish correction of the currency pair on Forex and a test of the resistance area near the level of 0.6075.…

Currency pair Dollar Franc USD/CHF ends the trading week near the level of 0.9124. The pair continues to move within the framework of growth. Moving averages indicate a bearish trend. Prices have broken through the area between the signal lines upward, which indicates pressure from buyers of the American currency and a potential continuation of the instrument’s growth from current levels. At the moment, we should expect an attempt to develop a price decline and a test of the support area near the level of 0.8955. Next, a rebound upwards and an attempt to continue the growth of the currency…