2023-11-11 18:46
The euro ended the week lower as the dollar strengthened on hawkish Fedspeak. Fed officials expressed uncertainty about whether interest rates are sufficiently high. Investors eagerly anticipate US consumer price data. The weekly EUR/USD forecast indicates a modest bearish trend, driven by expressed concerns from Federal Reserve officials regarding persistently high inflation levels. This hawkish tone is supporting the dollar against the euro. –Are you interested to learn more about MT5 brokers? Check our detailed guide- Ups and downs of EUR/USD The euro ended the week lower as the dollar strengthened on hawkish Fedspeak. US Federal Reserve officials, including Fed Chair Jerome Powell, expressed uncertainty about whether interest rates are sufficiently high to tame inflation effectively. Moreover, he emphasized the Fed’s commitment to adopting a restrictive monetary policy stance to bring inflation down to 2% gradually. “We are not confident that we have achieved such a stance,” he said. Additionally, three colleagues echoed Powell’s sentiments, underscoring the continued emphasis on taming inflation as the primary concern for the Fed. Next week’s key events for EUR/USD Next week, investors eagerly anticipate US consumer price data to gauge the Fed’s progress in fighting last year’s record-high inflation. If prices drop more than expected, it could strengthen the argument for the central bank to start rate cuts sooner. Additionally, there will be the producer price index report from the US. It will show wholesale inflation, a leading indicator of future consumer prices. Finally, there will be a report on retail sales from the US, showing the state of consumer spending in the country. EUR/USD weekly technical forecast: Bulls secure position above the 22-SMA line. The EUR/USD bulls have found their footing above the 22-SMA. It is a sign that the reversal from the 1.0501 support level is slowly gaining momentum. This can also be seen in the RSI, which is now steady above 50. Moreover, the price has broken above the 1.0675 resistance level. However, bulls must detach from this level for the price to keep climbing. –Are you interested to learn more about Thailand forex brokers? Check our detailed guide- If bullish strength continues, the price will do one of two things in the coming week. First, it might pull back to retest the 22-SMA support before breaking above 1.0675 and heading for 1.0900. Second, it might respect 1.0675 as support and push higher to retest the 1.0900 key resistance level. Either way, the coming week will see more bullish price action unless the price breaks below the 22-SMA. https://www.forexcrunch.com/eur-usd-weekly-forecast-fed-officials-voice-inflation-concerns/
2023-11-10 15:19
The ever-expanding universe of ?crypto gambling is rapidly growing, captivating both gamblers and cryptocurrency enthusiasts. The prospects of substantial rewards, thrilling entertainment, and unique advantages are incredibly appealing. Yet, with great rewards come great risks, and the question is how one can ensure safety and simplicity in this evolving realm. Fairspin, an innovative casino platform, has made its mission to redefine the reliability standards in online gambling. Unlike conventional online casinos, it places paramount importance on the security and convenience for the users with diverse levels of experience. In this article, we will explore the allure of crypto gambling and discuss the essential role of safety and simplicity through the lens of Fairspin – a pioneer in online gaming standards. Chasing The Allure of Crypto Gambling Crypto gambling offers numerous advantages that continue to fascinate players. It’s not just about the high rewards but also about the values that underpin this novel approach to gaming. Nevertheless, it’s important to remember that alongside these merits, the crypto journey is not without its risks. Crypto gambling operates primarily in an unregulated environment, which exposes users to potential fraud, theft of funds, and unethical gaming practices. The use of digital currencies makes crypto-gambling platforms a target for hackers. Security gaps and the lack of some crypto platforms’ transparency can lead to undesirable consequences, such as exposing users’ funds and personal information. Thus, the need for a secure and fair gambling environment is crucial, and here’s where Fairspin steps in. Fairspin’s Blockchain Brilliance ?Fairspin is at the forefront of incorporating cutting-edge technologies to guarantee transparency, security, and fair gaming. Blockchain technology, the backbone of Fairspin’s operations, plays a pivotal role in the integrity and trustworthiness of every transaction within the platform. The core advantage of blockchain is its immutability. Each transaction is securely recorded to a decentralized ledger, preventing any unauthorized changes. This means that every bet, win, or withdrawal is permanently recorded in a digital archive, free from manipulation or dispute, ensuring fair and tamper-proof operations. Players can join multiple activities on the platform and view any participant’s information via the Trueplay Explorer feature by simply entering their ID into the search bar. As an additional layer of high-tech professional assurance, Fairspin collaborates with a leading iGaming solutions provider, Trueplay. The platform is dedicated to creating captivating and transparent gaming experiences based on innovative digital approaches. This partnership bolsters Fairspin’s commitment to fostering player loyalty and maintains trustworthy relationships with users. Easy Crypto Success: The Secret Sauce While crypto gambling offers a host of benefits, it can be intimidating for newcomers to the cryptocurrency space. Fairspin addresses this concern by facilitating the entire gambling process. Navigating the platform is straightforward, the transactions are hassle-free, and the interface is seamless. Fairspin’s dedication to simplifying the crypto gambling process is exceptionally comprehensive. These features make Fairspin the ideal base for anyone looking to enjoy the benefits of crypto gambling effortlessly, with maximum clarity and stress-free. The Magic of Fairspin: Crypto Success in a Click In the world of crypto gambling, the allure of substantial rewards and gaming excitement continues to draw numerous players and crypto enthusiasts. However, with the volatile nature of this industry and its fraud risks, the importance of safety cannot be overstated. Fairspin is reshaping the online gambling experience with its pioneering approach to security and simplicity, backed by blockchain technology. Providing a transparent and fair environment that combines the thrill of crypto gambling and safety, Fairspin goes beyond. It simplifies the entire process, ensuring both experienced users and novices easily navigate the ecosystem. https://www.forexcrunch.com/igaming-your-safe-easy-crypto-journey-in-1-click/
2023-11-10 10:23
https://www.forexcrunch.com/gold-price-pares-gains-as-fed-hawks-roar/
2023-11-10 10:18
The British economy avoided a recession in the third quarter. The dollar held steady after hawkish remarks from US Fed Chair Jerome Powell. The UK economy experienced a 0.2% growth in September. The GBP/USD price analysis on Friday displayed a modest bullish trend, with the British pound making a measured recovery. This uptick followed the release of data indicating that the UK economy narrowly evaded a recession in the third quarter. However, the US dollar’s continued strength limited the pound’s upside. -Are you looking for forex robots? Check our detailed guide- Britain’s sluggish economy showed no growth in the July-to-September period. Notably, there was a 0% change in gross domestic product (GDP) in the third quarter. It was contrary to the anticipated 0.1% decline in a Reuters poll of economists. Moreover, such a decline could have marked the beginning of a recession. Meanwhile, the economy experienced a 0.2% growth in September alone. Furthermore, the report revised downward to 0.1% the figure for August, initially reported at 0.2%. The figure was a positive surprise as the Reuters poll had predicted no change in GDP for September. Additionally, the ONS highlighted that Britain’s economy was 1.8% above its late 2019 level. It shows a post-COVID recovery stronger than Germany’s but significantly lagging behind the United States. The US economy has expanded by over 7% from its pre-pandemic state. Meanwhile, the dollar held steady after hawkish remarks from US Fed Chair Jerome Powell reduced hopes for an interest rate peak. On Thursday, Powell and other US Federal Reserve officials said they were uncertain about whether interest rates have reached a level that keeps inflation low. GBP/USD key events today The pair will likely keep moving in response to the UK GDP data, as there are no other significant events for the day. GBP/USD technical price analysis: Bearish bias emerges as price breaks 30-SMA barrier. The bias for GBP/USD price on the 4-hour chart is bearish as the price has dipped below the 30-SMA. Additionally, the RSI now trades in bearish territory below 50. Bears took over and broke below the 1.2300 key level. Then, the price retested this level before dropping. -Are you looking for the best CFD broker? Check our detailed guide- Currently, the price is approaching the 1.2200 support level, and bears look strong enough to break below. A break below this level would strengthen the new bias as the price would start making lower lows. Furthermore, bears will target the next support level at 1.2100. https://www.forexcrunch.com/gbp-usd-price-analysis-rebounds-as-uk-avoids-recession/
2023-11-10 09:22
Remarks from Fed officials dampened expectations of a peak in US rates. The dollar hovered close to a one-year high against the yen on Friday. The dollar is heading for a weekly gain of approximately 1.3% against the yen. The USD/JPY outlook turned bullish as the greenback gained strength from Fed hawks and rising bond yields. This surge followed remarks from Federal Reserve Chair Jerome Powell and several other Fed officials that dampened expectations of a peak in US rates. -Are you looking for forex robots? Check our detailed guide- Markedly, Powell and others expressed uncertainty about whether interest rates are sufficiently high to combat inflation. As a result, the dollar hovered close to a one-year high at 151.355 yen on Friday. Moreover, the dollar’s surge after Powell’s remarks followed a momentary upward spike due to a poor auction of 30-year Treasury bonds. This auction resulted in higher yields across various Treasury maturities. These statements from Fed officials came a week after the US central bank left interest rates unchanged, solidifying the belief that rates might have peaked. Consequently, the dollar and Treasury yields fell in the aftermath. However, the greenback recovered this week and was poised for a weekly gain of approximately 1.3% against the yen, marking its best performance since August. Meanwhile, traders will keep an eye on the Japanese yen, especially as it maintains a position above the 150 level against the US dollar. It raises the possibility of intervention by Japanese authorities. USD/JPY key events today The pair will likely end the week quietly as there are no key events from the US or Japan today. USD/JPY technical outlook: Bullish momentum approaches 151.51 resistance. On the charts, the USD/JPY price has broken above the 150.75 resistance level. It is currently approaching the 151.51 resistance level, where it might pause. The surge has strengthened the bullish bias by pushing the price well above the 30-SMA. -Are you looking for the best CFD broker? Check our detailed guide- At the same time, the RSI currently trades near the overbought region, indicating solid bullish momentum. However, this might also mean that bulls need to rest before continuing higher. If the 151.51 resistance is firm, bears will likely trigger a retracement to retest the 150.75 key level. Afterwards, bulls might make a new high above 151.51. https://www.forexcrunch.com/usd-jpy-outlook-bulls-gaining-amid-hawkish-fed/
2023-11-09 15:48
The bearish pressure is high after failing to stay above the 1.23 psychological level. The UK data should move the rate tomorrow. The warning line (wl1) stands as the next downside target. In a dramatic turn of events, the GBP/USD price is currently in the red zone, showing a strong inclination towards hitting fresh lows. As of now, it stands at 1.2262, and all eyes are on its journey in the trading arena. -Are you looking for forex robots? Check our detailed guide- The main culprit behind this downward trend is the DXY’s current rally, compelling the greenback to pull the pair further down. The Dollar Index’s bullish bias in the short term is intensifying the downside pressure, making traders and investors closely watch the market dynamics. In the latest update on the UK front, the RICS House Price Balance has been reported at -63%, slightly better than the expected -65% and an improvement from the previous -67%. This news, however, might not be enough to counter the strong retreat prompted by the Dollar’s dominance. Looking ahead, all eyes are on the US Unemployment Claims indicator, which could potentially jump to 218K in the last week, up from 217K in the previous period. The imminent speech by Fed Chair Powell is also sending shockwaves through the market, creating an atmosphere of anticipation and uncertainty. But the real game-changer could be on the horizon. Tomorrow, the UK is set to release a slew of crucial economic data, including GDP, Prelim GDP, Goods Trade Balance, Construction Output, Index of Services, Industrial Production, and Manufacturing Production. Simultaneously, the US will publish the Prelim UoM Consumer Sentiment data. The outcome of these releases has the power to shift market sentiments and potentially rescue the Pound from its current downward spiral. GBP/USD price technical analysis: Bears turning strong In a technical twist, the GBP/USD pair is grappling with challenges as it struggles to find stability above the ascending pitchfork’s warning line (wl1). This is a clear signal of weary buyers, indicating a shift in market dynamics. Adding to the complexity, the pair has now slipped below the lower median line (lml), sounding the alarm for a potential downside reversal. -Are you looking for the best CFD broker? Check our detailed guide- A closer look at the hourly chart reveals that the rate has not only breached the lower median line but has also tested the broken line, solidifying the breakdown. The next hurdle in its downward journey is the downside warning line (wl1), which serves as both a target and an obstacle. The extent of the drop hinges on a valid breakdown through this dynamic support. The pressure on the downside has intensified, especially after the pair’s failure to sustain itself above the psychologically significant 1.2300 level and the weekly pivot point of 1.2290. These setbacks have contributed to the current precarious situation, keeping traders on edge as they anticipate the potential activation of a larger drop in the near future. https://www.forexcrunch.com/gbp-usd-price-bounces-off-1-2300-as-dollar-soars/
