A trio of central bank decisions coming up from the BoJ, Fed and BoE One might hike, one might stand pat and the other cut rates ECB to also be in focus as Eurozone flash GDP and CPI data are due Week will culminate with crucial US jobs report BoJ expected to taper; will it hike too? The Bank of Japan has barely left the headlines lately.

GBPUSD finds support at 20-day SMA Holds well above rising trend line Stochastics and RSI indicate upside moves GBPUSD pulled back from the one-year high of 1.3045 in the previous week, meeting the 20-day simple moving average (SMA), which may act as strong support level for traders. According to the technical oscillators, the stochastic is standing in the oversold area, but posted a bullish crossover within its %K and %D lines, while the RSI is ticking up above the neutral thresh

USDJPY confirms bearish trend reversal after brutal decline; key support nearby GBPUSD escapes broad sell-off with little injuries, but downside risks remain EURGBP set the ground for a bullish pivot within bearish channel

• Yen crosses are volatile as they retreat from multi-year highs • Volatility in oil and gold surges, Bitcoin follows suit • US equities exhibit higher volatility amid correction fears The euro and dollar pairs maintain low volatility ahead of the US PCE release on Friday and a quiet week on the European data front. On the flipside, volatility in yen crosses has increased considerably as the pairs have been extending their latest pullbacks from multi-year highs.

GBPUSD eases but remains above uptrend line Stochastics and RSI suggest more losses GBPUSD is retreating after a strong rally towards the one-year high of 1.3045. The technical oscillators also confirm the bearish retracement. The stochastic is diving into oversold territory, while the RSI is pointing slightly down above the 50 level. If

Wednesday's PMI surveys key for both the Fed and the BoE Eurozone PMI manufacturing survey could disappoint again US PMIs unlikely to unsettle September Fed expectations UK figures could surprise on the upside after the general election Important PMI survey prints this week as both the Fed and the BoE meet soon Despite last week’s stock market correction and the latest developments in the US Presidential race dominating the headlines, economic data releases this week sho

US data awaited amid overly dovish Fed rate cut bets July PMIs to reveal how economies entered H2 BoC decides on monetary policy, may cut rates again Will investors add to their Fed rate cut bets? With investors ramping up their Fed rate cut bets, the US dollar suffered during the first half of the week, although it recovered some ground on Thursday.

Rate cut and soft landing bets propel US equities to new highs Gold also sets a new record as US yields sink despite Trump risks Pound and kiwi edge up on slight upside surprises in CPI data US stocks brace for soft landing Optimism that the Fed is well placed to engineer a soft landing by cutting rates soon continues to fuel risk appetite on Wall Street, even as equity markets globally struggle against the prospect of Trump 2.0. Worries that a second Trump presidency will lead to

GBPUSD jumps to fresh 1-year high after UK CPI surprises slightly higher Technical indicators point to overbought conditions following steep rally UK employment figures next on the agenda due on Thursday 06:00 GMT   The UK CPI inflation data on Wednesday gave GBPUSD a slight boost as consumer prices grew by 2.0% instead of the expected 1.9%.

GBPUSD at risk of losing power below 1.2960 Technical indicators send overbought signals UK CPI inflation due on Wednesday at 06:00 GMT   GBPUSD switched to losses after US core retail sales displayed a strong monthly growth in June, beating analysts’ expectations for a pullback. The pair slipped back below the 1.2960 support region, increasing the risk for a bearish continuation ahead of Wednesday’s UK CPI data as both the RSI and the stochastic oscillator are flagging o

Euro/dollar volatility remains low despite weekend’s events Volatility in commodities jumps, apart from oil Stock indices experience stronger volatility, decoupling from Bitcoin Euro/dollar volatility remains very low despite last week’s weaker CPI report and the weekend’s gun attack on the Republican Presidential candidate. On the flip side, volatility in yen crosses has increased considerably as the BoJ is rumoured to have intervened last week in dollar/yen, ahead of the

EURUSD tests June's peak as ECB rate decision looms GBPUSD pauses impressive rally near 1.3000 ahead of CPI data Gold resumes weak momentum after closing above 2,400   US retail sales --> Gold It was a shocking weekend of a failed assassination attempt against Donald Trump, which caused a heated moment in the US political landscape.

June CPI numbers the highlight of this week’s UK data flurry Could the Bank of England cut interest rates next month? Pound undeterred as it extends July gains Job stats and retail sales to follow Wednesday’s CPI report (06:00 GMT) On target Inflation in the UK peaked much higher than in other major economies during the height of the energy crisis in 2022. Logic would therefore dictate that it would take longer to come down, and that is exactly what happened in 2023, to t

Market prices in at least two rate cuts from Fed ECB, BoE expected to follow suit despite divergent economic conditions SNB and BoC could ease further; RBNZ possibly close to a summer rate cut BoJ and RBA could surprise with rate hikes during 2024 We are halfway into 2024 and the countdown for this year’s key event, the US presidential election, has already started.

ECB is not expected to cut in July but will it signal one for next meeting? Retail sales will be the main highlight in the United States UK CPI report will be vital for BoE’s August decision China GDP data to kickstart busy week ECB meets amid sticky inflation The European Central Bank concludes its two-day policy meeting on Thursday but no change in interest rates is anticipated after trimming them by 25 basis points at last month’s gathering.

GBPUSD shows some improvement in near term 200-week SMA lies near the current high GBPUSD is facing a notable bullish movement after the bounce off the 1.2610 support level, challenging again the 1.2860-1.2890 area, where the 200-week simple moving average (SMA) also lies. According to technical oscillators, the stochastic is heading upwards above the 80 level, creating a bullish crossover within its %K and %D lines.

Powell’s testimony dents the dollar US CPI data could deepen the wounds Pound gains as BoE’s Pill dampens August cut bets Wall Street at new highs, gold gains as well Dollar softens ahead of CPI data The US dollar drifted south against most of its major peers on Wednesday, gaining some ground only against the yen, the franc, and the kiwi.

Monthly GDP and production figures for June on tap Strong data might hurt August rate cut expectations Pound flirts with $1.28 ahead of Thursday’s release (06:00 GMT) Uptick in GDP expected The UK economy got off to a solid start this year, emerging strongly from a technical recession in the second half of 2023. GDP grew by an impressive 0.7% quarter-on-quarter in the January-March period.

GBPUSD rebounds from its 50-day SMA The price jumps to its highest since June 12 Momentum indicators are tilted to the upside GBPUSD has been slowly gaining ground following its bounce off the 50-day simple moving average (SMA) in late June. Moreover, the pair has entered a range that has previously rejected further advances during the past year, thus traders should be careful not to get overly optimistic.

Euro/dollar volatility drops aggressively Volatility in commodities increases a tad, apart from oil S&P 500 and Nikkei 225 indices’ volatility jumps Euro/dollar volatility has eased further over the past week as the market is feeling more relaxed after Le Pen’s far-right party failed spectacularly to win the highest number of seats in the second round of the French parliamentary election.