Q2_Week_24_2022: Market Outlook

Published ON 23 Jun, 2022

Currencies:

The USDollar has continued to push up over the last couple of weeks. However, we have hit into monthly resistance, and we may see a deeper pullback because of it. That being said, due to us still being bullish we should continue to buy the dollar until structure changes.  

When looking at the macro-economic outlook, until we see a shift in the FED’s stance, we are likely to continue to see the dollar push up. Quantitative tightening is a driver in the dollar continuing its push up, as it is a way to reduce the supply of the currency. 

Right now, we are seeing interest rate hikes across the world as a combat against the rising inflation. We are likely to see this continue into the near future, as there is no signs of this slowing down just yet. The uncertain times has caused some impulsive moves in the market, which has caused some tricky periods for certain traders who rely on seeing ‘sequences’ in the market. However, our advanced group has continued to catch some amazing trades despite tricky conditions. 

Upcoming fundamental releases we have are: 

Thursday 23rd June 

  • USD, Initial Jobless Claims 4-week average (Jun 17) 
  • USD, S&P Global Composite PMI (Jun) 
  • USD, S&P Global Manufacturing PMI (Jun)  
  • USD, S&P Global Services PMI (Jun)  
  • USD, Fed’s Chair Powell testifies  
  • USD, Bank Stress Test Info  
  • USD, Initial Jobless Claims (Jun 17) 
     

Friday 24th June

  • GBP, GfK Consumer Confidence(Jun) 
  • JPY, National Consumer Price Index (YoY)(May) 
  • JPY, National CPI ex Food, Energy (YoY)(May) 
  • JPY, National CPI ex-Fresh Food (YoY)(May)  
  • GBP, Retail Sales (MoM)(May) 
  • GBP, Retail Sales (YoY)(May) 
  • GBP, Retail Sales ex-Fuel (MoM)(May) 
  • GBP, Retail Sales ex-Fuel (YoY)(May) 
  • EUR, ECB’s De Guindos speech  
  • AUD, RBA’s Governor Lowe speech  
  • GBP, BoE’s Pill speech 
  • GBP, BoE’s Haskel speech  
  • USD, Michigan Consumer Sentiment Index(Jun) 
  • USD, New Home Sales (MoM)(May)

USDollar Monthly

USDOLLAR – Daily

Advanced Group Wins

Our students have been smashing it over the last few weeks, with some amazing trades and funding challenge passes!

Written by Aqil – Head Analyst

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