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Recent Posts by Stuart McPhee

Bank of England (BoE) Interest Rate Decision

Today at 12:00pm UK Time. BoE Interest Rate Decision is taken by monetary policy committee members and is published two weeks after the meeting. Interest rate growth is seen as positive for the sterling. F:0.75%, P:0.75% #GBPUSD may test support at 1.32.

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US30 - Easing Below 26000 Level as Fed Officially Announces Rates Plan for 2019

 

 
The US30 index has eased in the last day or so, after spending the previous week rallying well. The previous two weeks saw the index ease from a three month high around 26200, which has now resulted in the US30 index trading in a narrow range roughly between 25400 and 26200 for the last month. In early February the index seemed content to have consolidated in a narrow range right above the significant level of 25,000 before it began its slow climb higher. 
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Australia Employment Change

Today at 00:30am UK Time. Australia Employment Change measures a change in the number of officially employed Australians in the reported month, and a sign of a stronger labor market. F:32.9K, P:39.1K #AUDUSD may test support at 0.7050.

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Federal Reserve System (Fed) Interest Rate Decision

Today at 6:00pm UK time. FED Interest Rate Decision is made on a predetermined date during the vote among the members of the FOMC concerning the Fed short-term interest rates to be charged from credits and commercial bank loans. F:2.5%, P:2.5%.

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XAUUSD - Consolidates above Key $1300 Level on Global Concerns

 

 
In the last couple of weeks gold has been able to stop the strong falls and rally back above the key $1300 level where it is currently receiving some support from. Only a few weeks ago gold was cruising along pushing to new nine month highs on the back of solid support from the key $1300 level, before crashing lower pushing through any support at the $1300 level and moving to its lowest levels in six weeks. The $1300 level offered some resistance however it was fleeting as gold moved back above. 
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ZEW Germany Economic Sentiment Indicator

Today at 10:00am UK time. ZEW Economic Sentiment Indicator asks survey participants about their expectations concerning the economy, inflation rates, interest rates, stock markets, and oil prices for the next six months. F:-14.2, P:-13.4 #EURUSD may test support at 1.13.

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EURUSD - Rallies Back Above Support at 1.13 as Brexit Looms

 

 
In the last week or so the EURUSD has rallied well and return back above the current key level of 1.13 after dropping sharply to an 18 month low around 1.1175. It performed a similar rally several weeks ago moving back above the key level of 1.13 after having dropped to a then three month low below 1.1250, which moved it to a three week high above 1.14. In early February the EURUSD was sold off after running into resistance at the other key level of 1.15, as it maintains it trading range between 1.13 and 1.15. 
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Market Recap: 11 - 15 March

 

 
On Tuesday last week we covered the AUDUSD which spent the remainder of the week consolidating in a narrow range right above the key level of 0.7050. Just leading up to last week the AUDUSD rallied well and moved back up that level. In the last few weeks however the AUDUSD has fallen from near 0.72 down to its lowest levels in two months at 0.70 before the recent rally. For the most part in the last two months, the AUDUSD has traded within a narrow range between 0.7050 and around 0.72. 
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Japan Industrial Production m/m

Today at 4:30am UK time. Industrial Production m/m reflects changes in the Japanese industrial sector outputs in the given month compared to the previous month. F:3.7%, P:3.7% #USDJPY may test 112.

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GBPUSD - Remains Above Key 1.32 Level after Brexit Drama

 

 
The last week has seen a very volatile GBPUSD surge higher back above the key 1.32 level where it currently sitting on top of. In the week prior, the GBPUSD fell sharply from an eight month high back down below the key level of 1.32 before rallying again and reaching a nine month higher in the last few days.
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