ภาษาไทย
Tiếng Việt
The #Forex Market Wrap is here!
Watch the video to learn what key levels have been hit this week!
Forex Market Wrap Analysis
This week the FOMC rate statement was the one to watch for investors, the Federal Reserve left rates unchanged at 0.25% but the chairman Jerome Powell stated that rates will be hiked to control the rising inflation. This led to the already bullish USD to rally and break into new highs on the USD Index.
In other news the Bank of Canada also left rates unchanged at 0.25% and also signalled that rate hikes would come soon to fight rising inflation. The central bank highlighted that the economy has recovered from the Covid-19 pandemic.
USD Index
The USD Index rallied and broke into new highs after the rate statement from the Federal Reserve. Now they have highlighted that rate hikes are on the horizon we should see the currency continue to gain in value. This could see the price of the USD Index head higher towards the key levels around $100.00.
EURUSD
With the USD remaining bullish the EURUSD price remained bearish. The price moves significantly lower breaking through the major lows around 1.1200. If the USD remains bullish we could see this bearish trend continue.
AUDUSD
AUDUSD has also continued to trend lower and the price has finally broken through the major support at 0.7000. This could continue in the short term as long as the 4hr trend remains the same.
NZDJPY
The price of NZJPY was featured in our week ahead analysis this week due to the strength meter highlighting the weak NZD and strong JPY. This market did continue to push lower and is heading for the major lows. We could still see the price move lower here in the short term as stocks remain bearish.
Did you watch our week ahead analysis video this week? find it here.
Enjoy low spreads and quick trade executions with a live account. Our highly committed customer support team will assist you from your quick account setup to any future concerns. Start trading with Blueberry Markets today.
About The Author
