Noticias del mercado & perspectivas

It hasn’t been a good Monday morning for some investors or English travelers who wish to sell the GBP to go abroad, as the Sterling Pound has collapsed to record lows to bring almost perfect parity with the U.S Dollar at 1 GBP equals $1.09. Sterling fell to the lowest level in 37 years, trading below the $1.09 following the rate increase. The cause to fight against inflation was always going to bring unwanted consequences to countries’ currencies and economies.

The most recent example has been the effect on the GBP after the Bank of England announced a rate hike of 0.5% to lift current interest rates from 1.75% to 2.25%, the biggest since 2008. It is compounded by the U.S Dollar recent record heights, it comes as the greenback surged to a fresh 20-year high against its peers after the Federal Open Market Committee lifted its key rate by 0.75 percentage points for the third time in a row and projected further increases in borrowing costs in an effort to tame inflation. America’s strategy is different by the fact they want to keep unemployment low, at the same time of attacking inflation, this is different from the BoJ, Bank of England whose sole purpose is to keep inflation at around the 2% level.

The cost of UK government borrowing rose by the most in a single day for at least a decade, while the currency meltdown fueled speculation the Bank of England would be forced to launch an emergency rate rise to mend the UK’s battered credibility with global investors. The UK government borrowed £11.8bn last month, almost twice as much as the Treasury’s independent forecaster had expected, as high inflation pushed interest payments to an August record. Below is a snapshot of the currency at the time of writing 3:07pm on Monday 26 th of September 2022.

And they aren’t many who believe the UK’s crisis is going to improve. Big banks such as The US investment bank JPMorgan said it exposed “a broader loss of investor confidence in the government’s approach,” while Citi said the chancellor’s tax giveaway, the biggest since 1972, risked “a confidence crisis in sterling”. To conclude, it seems that the BoJ strategy in hiking interest rates its going through the rough slow growth which central bankers advised about at the Jackson Hole meeting a few weeks back and it wont be a smooth ride back up as investors are pretty spooked by the effect the hikes have had in the market and sell off of the pound has increased as the Dollar seems like a better buy given its recent rise.

Trading opportunities such as the GBP FX pairs are in focus add to this the USD who has also provided CFD traders with many opportunities the last few weeks. To create access to a Metatrader trading platform please visit us on here and activate your trading account or call us on the Melbourne office-based number 03 8566 7680. As always please do your own research and trade responsibly.

Sources: Yahoo Finance, Guardian

GO Markets has won three awards in this year’s Global Forex Awards; Best Forex Fintech Broker - Global Best Forex Trading Support - Asia Most Trusted Broker - Europe The Global Forex Awards recognise forex and related businesses from around the world, “who are pushing the boundaries of innovation in retail forex trading solutions.” GO Markets COO & Director Khim Khor said, “We are very pleased to receive these 3 awards, which recognise the efforts our business is making to constantly improve our services globally. At GO Markets, we are committed to providing outstanding trading experience and customer service to all our clients globally. Being recognized as the Best Forex Fintech Broker also highlights our dedication to innovation and progression.

We hope these awards will help to solidify our market position as the most trusted global broker." Hosted by Holiston Media, the awards are now in their fifth year. With 58 categories, the awards highlight those businesses at the forefront of cutting-edge technology, low-cost trading, comprehensive market research tools, advanced educational programs and world-class customer service for direct to consumer/trader businesses. “Well done to each and every one of this year’s winners. They have proven they are at the very top of their game in the global forex retail industry.

The Global Forex Awards 2022 - Retail are a true benchmark for success that will not only impress potential new customers, but will also boost existing client comfort and loyalty, ” said Mike Boydell, Director of Holiston Media. GO Markets Global Head of Operations, Yaazdee Jaunbocus, accepted the awards at a celebration in Cyprus last week. “It’s fantastic to see GO Markets recognised on a global stage, with acknowledgement of our customer support and trustworthiness as a business; two areas in particular that we focus a lot of our attention on. It was a pleasure to attend the awards ceremony last week and accept these awards on GO Markets’ behalf,” said Yaazdee.

Learn more about the Global Forex Awards here.

As traders and investors one of the important facts you need to get to grips with is the difference between Consensus (sometimes termed “expected”) and actual data. Variations in these can have a profound impact on asset prices and so are often part of your decision-making. In financial markets, the "consensus" refers to the average or median expectation of market analysts, economists, or other experts regarding a specific economic indicator or financial metric, such as corporate earnings, or market data that is indicative of economic growth or contraction.

The "actual data" refers to the real value of that indicator or metric as it is released by the relevant source, such as a government agency or a company. The market response to the difference between consensus and actual data can vary significantly and depends on several factors: Surprise Factor: The extent to which the actual data differs from the consensus is often referred to as the "surprise." If the actual data is significantly different from the consensus, it can lead to a stronger market response. A larger surprise could result in more pronounced market movements.

Direction of Surprise: Whether the actual data is better or worse than the consensus also matters. For example, if economic data is better than expected it might lead to positive share market reactions, as it indicates a healthier economy. Conversely, worse-than-expected data could lead to negative market reactions.

However, it is worth pointing out that this is a little simplistic, as it is the reality that different asset classes may respond in contrary directions. A prime example of this would be data that impacts positively on the USD (e.g. higher than expected interest rate decision), is likely to have the opposite impact on gold price. Importance of the Indicator: Some economic indicators have a more significant impact on market sentiment and investor behaviour than others.

For example, employment numbers, GDP growth, and central bank interest rate decisions are typically closely watched and can trigger significant market movements. Conversely, auto sales numbers as an example. are less likely to impact on the market overall but may impact primary on car manufacturers. Most economic calendars have a grading of market sensitivity to data to help the trader.

Underlying Market Sentiment: Market sentiment, which includes factors like investor psychology, risk appetite, and current trends, can influence how traders and investors react to economic data releases. Positive sentiment might mitigate negative reactions to negative surprises, or vice versa. You may hear some market commentators refer to ‘good news’ really being ‘bad news’ for the market.

For example, in an interest rate sensitive environment, strong jobs data, although logically one would assume is good news may mean it is more likely that a central bank is in a more favourable position to raise rates and therefore may have a negative impact on the stock market. Economic Context: Related to the above the broader economic and geopolitical context also plays a role. Market participants might interpret data differently based on prevailing economic conditions, global events, or the current stage of the business cycle.

Long-Term vs. Short-Term Impact: The immediate market response to data releases can be volatile and short-lived. However, if the data implies a shift in the underlying economic trajectory, it might have longer-term effects on market trends.

Therefore, if a longer-term investor rather than short term trader you will view economic data releases very differently. Sector and Asset Class: Different sectors and asset classes can react differently to economic data releases. For example, currency markets will be particularly sensitive to central bank decisions and interest rate expectations (or those data points which may influence such decisions e,g, jobs data), while equity markets although may fluctuate significantly to the same data are likely to react more strongly to corporate earnings reports.

In summary, the actual market response can include fluctuations in stock prices, bond yields, currency exchange rates, commodity prices, and more. Rapid and significant market movements can occur within seconds of a data release, but these may be short lived. As a trader/investor, recognising that data is unpredictable, there is two key tactics to employ, namely: Ensure you have access to and use an economic data calendar and know earnings dates of stocks you are in, so you have awareness of significant data releases prior to these happening.

This means you are able to make judgments about any potential risk management actions you should take. As part of your decision-making process make a judgment as to the potential degree to which data may have on your open positions and take remedial action as required, including portfolio balancing and appropriate position adjustment. We always discuss the potential and actual impact of economic data both before and after release at our daily LIVE update webinar sessions.

You are very welcome to join us every lunchtime (AEST) to get the latest events that may impact on your decision making. Check out our Education Hub for more information. (Keywords: Market data, economic data.)

XAUUSD Analysis 5 – 9 June 2023 The overall outlook for gold prices is bearish in the short term. As there was a loss of buying momentum after testing the resistance area 2070, forming a Triple Top pattern on the Weekly timeframe, then there was a strong sell momentum, causing the price to fall below the price line. 1960s price line which used to be the old high when viewed from the Daily and Weekly timeframes, but nevertheless, the price is still moving in an uptrend for the medium term as the highs and lows have been established. Up when observed from the Daily time frame.

There are also no lower highs and lower lows, although the triple top pattern on the weekly timeframe suggests that the price of gold may reverse to a downward trend in the medium term. Therefore, the gold price forecast In the short term, the price may retrace to test the 1915 support area, which is where the price is expected to test before rebounding. There is still strong selling momentum from last Friday's NFP (Nonfarm Payrolls) report, giving the price a chance to move further down.

And if the price can stand on the support 1915 without falling further. Price may have a sideways correction before rallying to test the 1960 resistance again on the Daily timeframe. But if the price has a sharp drop with continuous selling momentum, it can break out the 1915 support level further down, the next important support that should be closely monitored and there is a chance that the price will fall Go to test before rebounding back up, that is 1880, which is a support level at the Daily time frame.

GBPUSD Analysis 5 – 9 June 2023 GBPUSD is bullish in the medium term after rallying to test the 1.26660 resistance to successfully form a new high on the daily timeframe before showing strong selling momentum on the Daily and Weekly timeframes. As a result, the price has continued to fall for three weeks in a row. Before breaking through the important price line that the price used to form a Double Top on the daily time frame at 1.24470, moved above the support level of 1.22700, and last week the price had strong buying momentum, resulting in an increase.

Revisiting the 1.24470 price line, which is an important level at the daily timeframe level. Forecasting that price This week the price may continue to rise. There is a high probability that the price will rise to test the resistance area that the price previously created a new high at the daily time frame level of 1.26660 again, as the price continues to move in an uptrend pattern.

Because higher Highs and Lows are made. But if the selling momentum continues to sell continuously and is very strong This will result in the price being able to break out around the 1.24470 price line and go further down to test the next support, 1.22700, which is an important support at the Daily timeframe level. EURUSD Analysis 5 – 9 June 2023 EURUSD is bullish in the medium term after rallying to test the 1.11000 resistance zone, which was the last high on the daily timeframe, but failed to make a new high and the price has strong selling momentum.

It appears clearly when looking at the closing of the sell pressure candlestick on the weekly time frame for the past four weeks. And the previous week closed in a Doji candle, indicating the market's hesitancy to continue falling or bouncing back. forecasting that price This week, the pair may face a short-term sideways trend with a high probability of a correction at the 1.07450 support area before a rebound to test the 1.11000 resistance. Again, as the price continues to move in an uptrend pattern, higher lows have been formed, although the high has yet to rise beyond the 1.11000 price line.

But if the selling momentum continues to sell continuously and is very strong This will result in the price being able to break out at the 1.07450 support level and continue down to test the next support, 1.05250, which is an important support at the daily timeframe level that should be watched.

XAUUSD Analysis 29 May – 02 June 2023 Forecasting the price of gold in the short term, the price may move down to test the 1915 support area, which is the area where the price is expected to bounce back. and if the price can stand without falling further Price may have a sideways correction before rallying to test the 1960 resistance again on the Daily timeframe. But if the price has a sharp drop with continuous selling momentum, it can break out the 1915 support level further down, the next important support that should be closely monitored and there is a chance that the price will be good Rebound, that is 1880, which is the support level at the Daily time frame. However, most investors keep an eye on the Non-Farm Payrolls (Nonfarm Payrolls) report and the unemployment rate report. (Unemployment Rate) on Friday, June 2, this coming.

This will directly affect the direction of gold prices. GBPUSD Analysis 29 May – 02 June 2023 GBPUSD is bearish in the short term after rallying to test the 1.26660 resistance to successfully form a new high on the daily timeframe before showing strong selling momentum on the Daily and Weekly timeframes. As a result, the price continued to fall for three weeks in a row before breaking through the key price that previously formed a double top on the daily timeframe 1.24470, moving above 1.22700 support.

Forecasting that price This week, the price may move slightly further. There is a high probability that the price will drop to test the support area of ​​1.22700 before a correction sideways. To bounce back up to retest the important price line 1.24470 as the price continues to move in an uptrend pattern.

But if the selling momentum continues to sell continuously and is very strong As a result, the price can break out at the support level of 1.22700 and go down further to test the next support, 1.18080, which is an important support level on the Daily time frame. However, most investors keep an eye on the Non-Farm Payrolls (Nonfarm Payrolls) report and the unemployment rate report. (Unemployment Rate) on Friday, June 2, this coming. This will have a direct effect on the GBPUSD price direction.

EURUSD Analysis 29 May – 02 June 2023 EURUSD has a short-term bearish view after rallying to test the 1.11000 resistance zone, which was the last high on the daily timeframe, but failed to make a new high and the price has strong selling momentum. It appears clearly when looking at the closing of the sell pressure candle on the weekly timeframe for the past three weeks. Forecasting that price This week, the pair may face a sideways trend with a high probability of a correction at the 1.07450 support area before a rebound to retest the 1.11000 resistance as the price continues to move in an uptrend pattern.

But if the selling momentum continues to sell continuously and is very strong This will result in the price being able to break out at the 1.07450 support area and go further down to test the next support, 1.05250, which is an important support at the daily timeframe level. However, most investors keep an eye on the Non-Farm Payrolls (Nonfarm Payrolls) report and the unemployment rate report. (Unemployment Rate) on Friday, June 2, this coming. This will have a direct effect on the EURUSD price direction.

XAUUSD Analysis 22 – 26 May 2023 The gold price outlook is generally positive in the medium term. Although the close of last week's sell pressure bar indicates a significant loss of buying momentum, due to the sell-off during the week but the price is still moving above the 1960 support. After the adjustment has come down to test, the adjustment has ejected up.

There is a very high probability that the price will continue to move or sideways above the 1960 support and there is a possibility of further rally to test the 2000 resistance which is a key resistance on the Weekly timeframe level. forecasting the price of gold in the short term, the price may move back down to test the 1960 support and if it manages to hold on without further deflection, there may be a sideways correction before rising to test the resistance. 2000 again in the medium term on the daily timeframe level, but if the price has a sharp decline with continuous selling momentum, it can break out the 1960 support level and continue down to the next important support at Should be closely monitored is 1880, which is a support level on the daily timeframe. GBPUSD Analysis 22 – 26 May 2023 GBPUSD is bearish after rallying to test the 1.26660 resistance to successfully form a new high on the Daily timeframe, before strong selling momentum emerges on the Daily and Weekly timeframes. Currently, the price has dropped to support 1.24470, which is an important level to watch.

Because the former price used to form a Double Top pattern on the daily timeframe level. forecasting that price This week, the price may have sideways at the 1.24470 area before plunging further. There is a high probability that the price will test the support area of ​​1.22700 before a correction. But if the selling momentum continues to sell continuously and is very strong This will result in the price being able to break out at the 1.22700 support area and go further down to test the next support, 1.18080, which is an important support at the Daily timeframe level.

GBPUSD Analysis 22 – 26 May 2023 GBPUSD is bearish after rallying to test the 1.26660 resistance to successfully form a new high on the Daily timeframe, before strong selling momentum emerges on the Daily and Weekly timeframes. Currently, the price has dropped to support 1.24470, which is an important level to watch. Because the former price used to form a Double Top pattern on the daily timeframe level. forecasting that price This week, the price may have sideways at the 1.24470 area before plunging further.

There is a high probability that the price will test the support area of ​​1.22700 before a correction. But if the selling momentum continues to sell continuously and is very strong This will result in the price being able to break out at the 1.22700 support area and go further down to test the next support, 1.18080, which is an important support at the Daily timeframe level.