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TRENDING: EURUSD| GBPUSD| XAUUSD| AUDUSD| USDCAD

TRENDING: EURUSD| GBPUSD| XAUUSD| AUDUSD| USDCAD
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GBP/USD KEEPS LOSSES ABOVE 1.2700 AFTER UK RETAIL SALES DATA, PMI EYED

GBP/USD is consolidating losses above 1.2700 after the UK Retail Sales for May
beat estimates with 0.3% MoM. The pair is on the back foot amid ongoing US
Dollar recovery and broad risk aversion ahead of the UK and US Preliminary
Manufacturing and Services PMI data. 


RECOMMENDED

 * UK Retail Sales jump 0.3% MoM in May vs. -0.2% expected




GBP/USD News





EUR/USD CORRECTS FURTHER TOWARD 1.0900 AHEAD OF PMIS

EUR/USD is extending the overnight correction from six-week highs above 1.1000,
drifting toward 1.0900 early Friday.  The Fed’s hawkish outlook and the risk-off
impulse continue to underpin the safe-haven buck. EU and US PMIs in focus. 


EUR/USD News




GOLD BULLS MUST DEFEND $1,900 FOR A CHANCE AT RECOVERY

Gold price remains on the way to posting the biggest weekly loss since late
January as the US Dollar cheers the market’s risk-off mood, as well as the
hawkish Fed concerns. Central banks bolster recession woes and underpin USD
run-up, weighing on XAU/USD.


Gold News




WILL BITCOIN TAKE A BREAK AFTER $30,000?

Bitcoin price remains highly bullish on all timeframes. The recent rally has
pushed it to the $30,000 psychological level. Altcoins are likely going to be
sidelined while investors pour capital into BTC, pushing the big crypto to scale
higher heights.


Read more




AS THE YEN COLLAPSES, HOW LIKELY IS FX INTERVENTION?

With the yen breaking down lately, Japanese authorities have stepped up their
warnings about FX intervention. However, the conditions for intervention are not
fully present yet, as the moves in USD/JPY in particular have not been sharp
enough.


Read more




LATEST NEWS


 1.  YUAN TO REMAIN WEAK IN NEAR TERM BEFORE POSITIVE SENTIMENT TOWARDS CHINA
     CAN BE ESTABLISHED – MUFG
     
     By FXStreet Insights Team | 5 minutes ago


 2.  WTI TO APPROACH THE $90 MARK IN THE LATTER PART OF THE YEAR – TDS
     
     By FXStreet Insights Team | 18 minutes ago


 3.  GBP/JPY JUMPS BACK TOWARDS 182.50 HURDLE DESPITE UPBEAT UK RETAIL SALES,
     MIXED JAPAN DATA
     
     By Anil Panchal | 18 minutes ago


 4.  EUR/GBP ATTEMPTS A BREAK BELOW 0.8600 AS UK RETAIL SALES REMAIN UPBEAT
     
     By Sagar Dua | 23 minutes ago


 5.  GBP/USD NOW FACES SOME CONSOLIDATION NEAR TERM – UOB
     
     By Pablo Piovano | 32 minutes ago


 6.  A RIKSBANK MISSTEP COULD SEND EUR/SEK TO 12.00 – ING
     
     By FXStreet Insights Team | 40 minutes ago


 7.  USD INDEX RESUMES THE UPSIDE TO THE 102.70 REGION
     
     By Pablo Piovano | 41 minutes ago


 8.  UK RETAIL SALES JUMP 0.3% MOM IN MAY VS. -0.2% EXPECTED
     
     By Dhwani Mehta | 41 minutes ago


 9.  NZD/USD LOOKS SET TO EBB AND FLOW WITH GLOBAL MOVES UNTIL SOMETHING NOTABLE
     HAPPENS IN THE REGION – ANZ
     
     By FXStreet Insights Team | 42 minutes ago


 10. NZD/USD PRICE ANALYSIS: FURTHER DOWNSIDE HINGES ON 0.6120 BREAKDOWN AND US
     PMI
     
     By Anil Panchal | 45 minutes ago


 11. AUD/JPY EYES DOWNSIDE BELOW 96.00 DESPITE SOFT JAPAN INFLATION AND UPBEAT
     AUSSIE PMI
     
     By Sagar Dua | 54 minutes ago


 12. FX OPTION EXPIRIES FOR JUNE 23 NY CUT
     
     By Dhwani Mehta | 11:36


 13. USD/TRY RETREATS AFTER REFRESHING RECORD TOP PAST 25.70 AMID RECESSION
     FEARS
     
     By Anil Panchal | 11:33

More Latest News


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DEEPER DIVE


INFLATION - IN THEORY AND PRACTICALITY

An article talking about the inflation that was presumed to be expected from
global economies, and about the actual inflation that is now happening.




GOLD TRAPPED IN A NARROW RANGE – WHAT’S NEXT?

After almost touching a record high last month, gold prices have corrected
lower, trampled under the weight of rising yields and a resurgent US dollar.




EUROZONE AND THE UNITED STATES: WHERE DOES INFLATION COME FROM?

According to the latest data, inflation in both the euro area and the US is
mainly driven by its core component and thus, at first glance, by demand.






FXS SIGNALS






TECHNICAL CONFLUENCES DETECTOR


GOLD BULLS MUST DEFEND $1,900 FOR A CHANCE AT RECOVERY

Gold Price (XAU/USD) remains on the way to posting the biggest weekly loss since
late January as the US Dollar cheers the market’s risk-off mood, as well as the
hawkish Federal Reserve (Fed) concerns.

Gold Price: Key levels to watch

As per our Technical Confluence Indicator, the Gold Price drops towards the
$1,903 key support comprising Pivot Point one-month S1. Ahead of that, Pivot
Point one-week S2 and Pivot Point one-day S1, close to $1,907 at the latest, can
prod the XAU/USD sellers.

That said, a downside break of the $1,903 support confluence will need
validation from the $1,900 round figure, also comprising the Pivot Point one-day
S2, before throwing a party for the Gold sellers.


Read full report

Go to the Tool Page




CRYPTOCURRENCIES




ETHEREUM PRICE PREDICTION: ETH COILS AS BULLS COULD TRIGGER 45% UPSWING

Ethereum (ETH) price shows a tight consolidation on the three-day chart. As this
rangebound movement nears a breakout, investors need to be extremely cautious of
Bitcoin (BTC) bears, who could flip the plan on its head.


More Ethereum News




ARBITRUM BOOSTS LAYER 3 NETWORK DEVELOPMENT AS POLYGON, BNB CHAIN LAG BEHIND

Developers of Arbitrum, a dominant Layer 2 scaling solution for Ethereum,
launched on Thursday Arbitrum Orbit, a new tool to power Layer 3 chains in the
ecosystem. Arbitrum’s competitors, Polygon and BNBChain, recently released
zero-knowledge rollups.


More Arbitrum News




RIPPLE PRICE COULD REACH NEW 2023 HIGH AS INSTITUTIONAL INTEREST GROWS

XRP price has had a slow recovery in comparison to many of the top
cryptocurrencies even as Bitcoin broke above the $30,000 mark. However, while
the Ripple token is lagging in price rise, it's making up for it in terms of
gaining institutions' interest.


More Ripple News




RIPPLE RECEIVES NOD TO ROLLOUT DIGITAL ASSET SERVICES IN SINGAPORE, BOLSTERING
XRP PRICE RALLY

XRPLedger’s native token XRP has been in the spotlight since the June 13 release
of the Hinman documents in the Securities and Exchange Commission (SEC) vs.
Ripple lawsuit. XRP price witnessed a spike in volatility in response to
developments in the lawsuit.


More Ripple News







THE STOCK OF THE DAY




DAX DOWN DAYS AHEAD?

After gaining around 16% this year the Dax has rallied up to the highs from
January 2022. However, there are increasing calls that the recent rise in
stocks, particularly in the US, looks stretched. This has resulted in some calls
from analysts that overblown valuations, concerns over higher rates, and
portfolio rebalancing mean stocks are vulnerable to a correction.






ECONOMIC CALENDAR

GMT
Event
Vol.
Actual
Consensus
Previous
Friday, Jun 23 06:00
GBP Retail Sales ex-Fuel (MoM)

0.1%
-0.3%
0.7% Revised from 0.8%
06:00
GBP Retail Sales (MoM)

0.3%
-0.2%
0.5%
06:00
GBP Retail Sales (YoY)

-2.1%
-2.6%
-3.4% Revised from -3.0%
07:00
EUR Gross Domestic Product (QoQ)


0.5%
0.5% Revised from 0.2%
07:00
EUR Gross Domestic Product (YoY)


3.8%
3.8% Revised from 2.6%
07:00
EUR ECB's President Lagarde speech




07:15
EUR HCOB Composite PMI


51.0
51.2
07:15
EUR HCOB Services PMI


52.0
52.5
07:15
EUR HCOB Manufacturing PMI


45.4
45.7
07:30
EUR HCOB Services PMI


56.2
57.2
07:30
EUR HCOB Composite PMI


53.5
53.9
07:30
EUR HCOB Manufacturing PMI


43.5
43.2
08:00
EUR HCOB Manufacturing PMI


44.8
44.8






REAL-TIME RATES


Customize your rates






WEEKLY FORECAST




EUR/USD: CONFIDENT BULLS READY TO PUSH THE EURO HIGHER PREMIUM

The EUR/USD pair ends the week with substantial gains near a multi-week high of
1.0970, as optimism returned to financial markets following first-tier events.
Investors welcomed United States (US) inflation figures, indicating price
pressures have continued to recede in May, taking some steam off the Federal
Reserve (Fed).


Read full analysis



GBP/USD: EYES ON 1.2870 KEY RESISTANCE AHEAD OF BOE POLICY ANNOUNCEMENTS PREMIUM

GBP/USD recorded a hat trick – three straight weekly gains, hitting its highest
level in fourteen months. Pound Sterling bulls flexed their muscles amid an
extended US Dollar pullback that came despite the US Federal Reserve (Fed)
hawkish pause. 


Read full analysis



GOLD: XAU/USD COULD BREAK OUT OF RANGE ON FEDSPEAK PREMIUM

Gold price declined below $1,930 on Thursday, its lowest level in three months,
but reversed its direction ahead of the weekend as the US Dollar (USD) faced
heavy selling pressure.


Read full analysis




BITCOIN PRICE FACES FURTHER DEPRECIATION AS STOCK MARKET RALLY REPEATS HISTORY

The crypto market is losing its value, rapidly falling below $1 trillion in
market capitalization following the recent crash. On the other hand, the S&P 500
index has observed a more than 15% rally since the last time it bottomed in
March. BTC still faces the possibility of a decline.


Read full analysis



FX NEXT WEEK: BOJ, JPY AND TWENTY CURRENCIES

The 10 year JGB yield began the week at 0.426 and range traded from 0.433 to
0.414 or 0.019 and a 1.9% move. The US 10 year yield traded 3.682 to 3.854 or
0.17 and a stronger percentage move than the JGB 10 year. 


Read full analysis



CAN THE BOE AND SNB HIKE BY 50BPS? FLASH PMIS INCOMING

The central bank theme will continue in the coming week with the Bank of England
and Swiss National Bank next to announce their interest rate decisions. Both are
expected to raise their policy rates but is there room for hawkish surprises? 


Read full analysis



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