The Reserve Bank of Australia’s July meeting swaps signal a 50 percent chance of a rate cut, signaling a dramatic shift in monetary policies in the country. This is fueled by increasing uncertainty in the banking sector on an international scale. Jerome Powell himself saying that a pause in rate hikes due to the volatility was considered. With three-year bonds yields tumbling to an all-time low and increasing bets on easing, it looks like the financial situation is going to be tricky in the coming months as central banking powers maneuver their respective countries through turbulent times. Clearly, it is essential for both monetary authorities and investors alike to stay informed about economic trends and policy changes during this time of great economic change.
Forex market projections for Monday 27th
EURUSD below 1.08 sellers preferred. Sellers starting at 1.0760 to TP 1.0750. Then sellers at 1.0740 to TP 1.0730. Buyers above 1.08 to TP 1.0830. We consider to hold on to sell strategies for next week. Inflation of US will possibly change projections if US changes it approach to the monetary policy.
GBPUSD below 1.2250 sellers preferred. Sell levels start at 1.2230 to TP 1.2220, then sell at 1.2210 to TP 1.22. Then sell below 1.22 upon confirmation to TP 1.2180. Attention to possible buyers around 1.2160 and 1.2150.
USDCAD buyers on hold preferred. Buy at 1.3750 to TP 1.3780. Attention to sellers below 1.3780 and 1.38. Above 1.38 buyers to 1.3840 and 1.3850 levels. Sell strategy below 1.37 to 1.3690. Then attention to buyers back again around 1.3660 and 1.3650. Friday´s information will change the projection of the dollar attention to our updates.
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