I’m seeing pullbacks on the massive market strikes just lately.
Will this Cable correction supply an opportunity to catch the selloff?
Earlier than shifting on, ICYMI, yesterday’s watchlist checked out AUD/JPY testing a key support level as risk-off flows surged. You should definitely take a look at if it’s nonetheless a legitimate play!
And now for the headlines that rocked the markets within the final trading sessions:
Contemporary Market Headlines & Financial Information:
Market selloff pauses on softer than anticipated sanctions on Russia
U.S. President Biden says not more likely to minimize Russia off from SWIFT for now
Ukraine media reporting presence of 60,000 Russian troops
New Zealand headline retail gross sales rebound 8.6% after earlier 8.2% slide
New Zealand core retail gross sales up 6.8% vs. projected 5.5% acquire
New Zealand commerce deficit widened from 975M NZD to 1082M NZD
Taiwan to affix listing of nations imposing sanctions on Russia
Japan to instantly impose sanctions on Russia, freeze property in some Russian banks
U.Ok. GfK client local weather index slipped from -19 to -26 in February
Asian markets rebound, however buyers cautious of dangers from Russia
RBNZ official Orr: Occasions in Ukraine worsen upside inflation issues
U.S. core PCE value index at 1:30 pm GMT
U.S. headline and core sturdy items orders at 1:30 pm GMT
U.S. private revenue and spending at 1:30 pm GMT
ECB head Lagarde’s speech at 3:00 pm GMT
U.S. revised UoM client sentiment index at 3:00 pm GMT
Emergency digital NATO summit developing
Use our new Currency Heat Map to rapidly see a visible overview of the foreign exchange market’s value motion! 🔥 🗺️
What to Watch: GBP/USD
Secure-havens have been on a tear nowadays, as risk-off flows stemming from heightened tensions between Russia and Ukraine are lifting greenback demand.
A little bit of a rebound befell after these robust strikes, although, so we would have an opportunity to catch retracements.
This one on Cable is wanting fairly neat, because the pair is retreating to the Fib ranges on the newest tumble.
Value is inching nearer to the 50% Fib across the 1.3450 minor psychological mark however may nonetheless pull up greater to the 61.8% degree that’s in keeping with a former assist space.
To high it off, the 100 SMA simply crossed beneath the 200 SMA to substantiate that the selloff is more likely to resume.
If any of the Fibs maintain as a ceiling, GBP/USD might stoop again to the swing low or a lot decrease. After all this may hinge on total market sentiment, in addition to the result of the U.S. core PCE value index launch.
Planning on buying and selling this one? Be aware of potential weekend gaps!