Despite the relatively light economic calendar this trading week, the growing optimism around possibility that US interest rates will be raised next week has created an incredible amount of volatility in the markets. The bank of England rate decision will be held today and it is widely expected that UK interest rates will be unchanged. Commodities continue take a hit with WTI hitting near 7 year lows. – The EURUSD experienced a hefty appreciation on Wednesday; bears need to secure a close below 1.100.
– The GBPUSD has surged on the back of Dollar weakness, it is still under pressure and bearish.
– WTI is heavily bearish on the daily timeframe and trades to near 7 year lows.
Despite the relatively light economic calendar this trading week, the growing optimism around possibility that US interest rates will be raised next week has created an incredible amount of volatility in the markets. The bank of England rate decision will be held today and it is widely expected that UK interest rates will be unchanged. Commodities continue take a hit with WTI hitting near 7 year lows.
– The EURUSD experienced a hefty appreciation on Wednesday; bears need to secure a close below 1.100.
– The GBPUSD has surged on the back of Dollar weakness, it is still under pressure and bearish.
– WTI is heavily bearish on the daily timeframe and trades to near 7 year lows.
Related Posts: