Global macro overview for 19/07/2016
July 19, 2016 9:37 amVideo
Latest News
- Technical Analysis – EURUSD plummets after US CPI and ECB decision April 12, 2024
- Will US retail sales add juice to the dollar’s rally? – Preview April 12, 2024
- Technical Analysis – GBPUSD outlook worsens after rapid fall April 12, 2024
- Market Comment – Dollar pulls back; ECB sends clearer cut signals April 12, 2024
- Hot forecast for EUR/USD on April 12, 2024 April 12, 2024
- Analysis and trading tips for USD/JPY on April 12 April 12, 2024
- Analysis and trading tips for GBP/USD on April 12 April 12, 2024
- Analysis and trading tips for EUR/USD on April 12 April 12, 2024
- Technical Analysis – USDCAD reaches new 2024 high; could this move continue? April 12, 2024
- Forecast for EUR/USD on April 12, 2024 April 12, 2024
- Forecast for GBP/USD on April 12, 2024 April 12, 2024
- Forecast for AUD/USD on April 12, 2024 April 12, 2024
- Outlook for GBP/USD on April 12. The pound once again failed to leave the same range April 12, 2024
- Outlook for EUR/USD on April 12. New ECB meeting April 12, 2024
- The market is disappointed and softening expectations for the FOMC rate April 12, 2024
- Christine Lagarde: inflation is easing April 12, 2024
- ECB threw a lifeline to the euro April 11, 2024
- Technical Analysis – ETHUSD finds support at 50-day SMA April 11, 2024
- Trading Signals for GOLD (XAU/USD) for April 11-15, 2024: buy above $2,345 (6/8 Murray – symmetrical triangle) April 11, 2024
- EUR/USD: trading scenarios on April 11, 2024 April 11, 2024
Global macro overview for 19/07/2016:
The inflation data from the United Kingdom was released today and it mostly meet the market expectations. The consumer price index was unchanged at the level of 0,2% m/m, just as per market expectations, but on the yearly basis the inflation edged to 0.5% from 0.3% a year ago. Moreover, on the yearly basis, the core CPI increased higher to 1.4% from 1.2% prior. In conclusion, it is not a huge improvement, but enough perhaps to give the BoE some food for thought in their August inflation report.
Let’s now take a look at the GBP/USD technical picture in the 4H time frame. The key resistance zone between the levels of 1.3484 – 1.3562 was not violated and the market got back below the 55 and 100 moving average again. Despite the relatively good data, bears are still in full control over this market and any rally is a chance to open more sell orders. The next support is seen at the level of 1.3103.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
Related Posts: