The legend in the InstaSpot team!
Legend! You think that's bombastic rhetoric? But how should we call a man, who became the first Asian to win the junior world chess championship at 18 and who became the first Indian Grandmaster at 19? That was the start of a hard path to the World Champion title for Viswanathan Anand, the man who became a part of history of chess forever. Now one more legend in the InstaSpot team!
Borussia is one of the most titled football clubs in Germany, which has repeatedly proved to fans: the spirit of competition and leadership will certainly lead to success. Trade in the same way that sports professionals play the game: confidently and actively. Keep a "pass" from Borussia FC and be in the lead with InstaSpot!
The US dollar regained some positions against the euro and the British pound yesterday, though it fared poorly against the strengthening Japanese yen ahead of the central bank meeting.
Following the news that jobless claims in the US fell to their lowest level in more than three years last week, the dollar gained some momentum. This positive report lifted trader optimism, suggesting resilience in the US labor market. However, the dollar's growth was limited by cautious rhetoric from White House representatives.
Today, important economic reports are expected in the first half of the day, which could significantly impact the euro's exchange rate and the overall economic health of the Eurozone. Specifically, attention will be paid to the Eurozone's GDP figures for the third quarter of this year. Analysts forecast moderate growth; however, any deviations from expectations could provoke volatility in the currency markets. Traders will closely examine the components of GDP, especially the dynamics of consumer spending and investments, to gain a fuller picture of growth prospects.
Alongside the GDP data, reports on employment changes in the Eurozone will also be released. A stable labor market is a key factor supporting consumer spending and overall economic growth. Additionally, important sector reports providing insight into the state of individual European economies will be published. France will release data on changes in industrial production, where an increase signals stronger manufacturing activity and demand for goods. Conversely, a slowdown could indicate issues in the production sector, putting pressure on the euro. Italy is expected to present retail sales reports reflecting similar trends.
As for the pound, Halifax house price index data is expected today in the first half of the day. This index serves as an authoritative indicator of the state of the real estate market. The Halifax index data not only helps assess overall price changes but also reveals regional differences and the factors that influence them. The current UK real estate market is under pressure from high-interest rates, and weak Halifax index results may negatively impact the pound.
If the data aligns with economists' expectations, it is advisable to employ a Mean Reversion strategy. If the figures are significantly above or below expectations, using a Momentum strategy is preferable.
*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।
ইন্সটাফরেক্স বিশ্লেষণমূলক পর্যালোচনাগুলো আপনাকে মার্কেট প্রবণতা সম্পর্কে পুরোপুরি সচেতন করবে! ইন্সটাফরেক্সের একজন গ্রাহক হওয়ায়, দক্ষ ট্রেডিং এর জন্য আপনাকে অনেক সেবা বিনামূল্যে প্রদান করা হয়।
