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The U.S. dollar index, which measures the currency against a basket of six major peers, was little changed at 103.34, sticking close to the more than two-week low of 103.29 reached on Thursday. Crude oil remained on the back foot on Friday following a report that the United States and Iran were close to a nuclear deal, although denials from both parties
Considering this bearish scenario, there is a possibility for a continuation of the downward trend towards the first support level at 102.80. This level holds importance as it coincides with a 50% Fibonacci retracement level and acts as an overlap support level.
IC Markets Asia Fundamental Forecast | 9 June 2023 What happened in the US session? The recent release of US Unemployment Claims shows that the actual number of claims was 261K, surpassing the forecasted figure of 236K and the previous data of 233K. This increase in unemployment claims hurt the USD as it may lead … Continue reading IC Markets Asia Fundamental Forecast | 9 June 2023
IC Markets Europe Fundamental Forecast | 8 June 2023 What happened in the Asia session? Japanese Yen saw multiple positive data outcomes: Bank Lending y/y surpassed forecasts at 3.4% (forecast: 3.1%), Current Account stood at a healthy 1.90T versus the expected 1.39T, and Final GDP q/q showed better growth at 0.7% against the predicted 0.5%. … Continue reading IC Markets Europe Fundamental Forecast | 8 June 2023
Global Markets: News & Data: Markets Update: Asian stock markets are trading mostly lower on Thursday, following the mostly negative cues from global markets overnight, as traders are nervous over the outlook for interest rates as the Bank of Canada once again raised interest rates after leaving rates unchanged for two straight meetings. Asian Markets … Continue reading Thursday 8th June 2023: Asian markets lag as Wall Street loses steam
