GBP/USD hovers around 1.41 after strong UK CPI

GBP/USD is trading around 1.41, rising after the UK reported an annual inflation rate of 2.1% in May, beating estimates and raising the chances of a BOE rate hike. The focus remains on the Federal Reserve's decision later in the day.


Joseph Trevisani
Valeria Bednarik

To taper or not to taper? Don't miss our live coverage!

The Fed is set to rock the dollar with its decision on bond-buying, as US inflation lifts its head. Our experts will analyze the market reaction to the event from 17:30 GMT. Join us live!

EUR/USD holds above 1.21 as tensions mount ahead of the Fed

EUR/USD is trading above 1.21, in limited, typical, pre-Federal Reserve trading. Markets await the bank's dot plot and Chair Powell's comments on potential tapering of the Fed's bond-buying scheme. 


XAU/USD remains confined in a range near $1,860 level, FOMC awaited

Gold lacked any firm directional bias and remained confined in a narrow trading band through the first half of the European session on Wednesday.

Gold News

Shiba Inu ready to reverse to $0.0000050

SHIB price faces stiff resistance ahead. Shiba Inu has had a difficult time recovering, suggesting that it may soon face rejection. In the following video, FXStreet's analysts evaluate where SHIB price could be heading next as Shiba Inu gets weaker.

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Federal Reserve Preview: First up, then down? Playbook for trading the Fed

To taper or not to taper? That is the question for markets ahead of the Federal Reserve's all-important June meeting. Fed Chair Powell will likely shoot down any talk of tapering the bank's bond buys. Highly volatile trading could see the greenback first drop.

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Five factors moving the US dollar and not necessarily to the downside

For the dollar, that light at the end of the tunnel turned out to be a truck roaring at full throttle to run it down. The news of coronavirus vaccines sent stocks higher and the safe-haven dollar lower. Alongside decisive US elections and later some fiscal stimulus, there was no need to run for shelter, and the dollar suffered. 

The Homeworking Revolution: Change accelerates for businesses, real estate and stock markets

The pandemic-fostered explosion of working-from-home will be a permanent change. COVID-19 has reinforced trends that were remaking the business office before the pandemic. Property valuation and tax revenue will flow from cities to suburbs and high-cost to low-cost states.

Top commodities to trade amid global reflation: Silver and copper to outshine gold price

Commodities witnessed an interesting end to a decade in 2020. Traders were caught off-guard by the unprecedented coronavirus crisis last year. Likewise, a strong recovery across the commodities board came as a surprise, bringing them in vogue and kick-starting a super cycle.

FXS Signals

Technical Confluences Detector

Dhwani Mehta

Gold price is attempting a minor recovery above $1850, although the bulls appear to lack conviction, as the US dollar continues to hover near monthly highs. Further, a renewed uptick in the US Treasury yields also caps the bounce in gold price. Despite the limited bullish potential, gold continues to draw support from a lack of clarity on the Fed’s next policy move, as the central bank’s two-day monetary policy meeting begins later this Tuesday.

Gold: Key levels to watch

The Technical Confluences Detector shows that gold price is gathering strength before it extends Monday’s recovery towards the previous week’s low of $1870.

The next upside target for gold bulls awaits at $1880, which is the convergence of the Fibonacci 23.6% one-month, previous day’s high and Fibonacci 23.6% one-week.

Further up, the confluence of the SMA100 one-hour and Fibonacci 38.2% one-week at around $1884 could be probed.

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Ripple to set the stage for 18% gains

XRP price formed the second peak on June 14, indicating the formation of a double top. As a result, Ripple is starting to decline, heading toward an immediate support level.

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Ethereum price isn't out of the woods just yet, ETH targets $2,300 first

Ethereum price seems prime for rejection. A spike in selling pressure could see ETH drop to $2,300. Only a break above $2,700 might delay the bearish outlook. 

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Bitcoin to test $49,000, suggest technicals and on-chain metrics

Bitcoin price flashed a buy signal on the weekly chart. The bullish formation has helped BTC rebound from the $30,000 support level. Further buying pressure could push the pioneer cryptocurrency to $49,000.

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Shiba Inu ready to reverse to $0.0000050

SHIB price faces stiff resistance ahead. A spike in selling pressure could send Shiba Inu drop to $0.0000050. Only a 4-hour candlestick close above $0.0000080 could save the memecoin. 

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EUR/USD Weekly Forecast: Eyes turn to Fed amid heating inflation

The EUR/USD pair trades at fresh monthly lows around the 1.2100 level and with increased bearish potential. Investors read past upwardly revised US inflation figures, which hit 5% YoY in May, accelerating at the fastest pace since 2008.

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GBP/USD Weekly Forecast: Sterling's time to shine? UK data, Fed may put fuel to fire

GBP/USD has overcome Brexit and reopening fears to hold its ground. The Fed decision, UK reopening and top-tier British economic figures promise action. Mid-June's daily chart shows that bulls are ahead.

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USD/JPY Weekly Forecast: Fed timing is everything

US May inflation at 5% has small impact on the dollar. Treasury rates fall as markets expect no Fed action. Unless the June FOMC changes course, summer consolidation is here. FXStreet Forecast Poll shows the lack of direction in USD/JPY

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AUD/USD Weekly Forecast: Still ranging, but not for long

The AUD/USD pair changes hands at around 0.7690, mute for a third consecutive week. The pair has been ranging since mid-April, bottoming at 0.7645 on June 4 and topping at 0.7890 on May 10.

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Bitcoin Weekly Forecast: BTC goes through range of emotions, from legal tender to Chinese miners exodus

Bitcoin price rallied wildly on the news of it becoming legal tender in El Salvador, but China’s clampdown on miners was equally palpable. BTC seems to be taking a breather before its uptrend resumes.

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Gold Weekly Forecast: XAU/USD tests key trend line ahead of FOMC meeting

Gold closed the second straight week in the negative territory. XAU/USD is testing the 2-month-old ascending trend line. Next significant support for gold is located at $1,840. Gold spent the first half of the week trading in a relatively tight range as buyers could not hold the price above $1,900.

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BTCUSD: Stay Calm and take advantage 

Are you looking for great opportunities in the Crypto market? This is your chance! Retailers taking advantage of the drop in BTC, no panic. Get this and daily recommendations by our experts on how to read crypto charts and be ready for the next trade!
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