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!
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Markets should have behaved calmly yesterday as the economic calendar was empty. However, euro and pound showed growth after an interview with Isabel Schnabel was released.
Schnabel said current data prompts another 50 basis point rate hike from the ECB, fueling demand for euro, and in turn, pound.
Now, an attempt to rebound can be seen in the market, but it seems that it will be quite modest and short-lived as after the opening of the US trading session, dollar will weaken again. The reason for that is the data on the US housing market, particularly the pace of housing price growth, which should slow down from 5.3% to 3.9%. New home sales are also likely to decrease by 0.5%.
EUR/USD is back to the local highs in the medium-term, and is overbought in the short-term. This is likely to lead to a retracement or stagnation unless the price holds above 1.1080.
GBP/USD has been moving sideways, particularly in the range of 1.2350/1.2550. The recent momentum has pushed the quote to the upper limit, but no changes are observed. Thus, the situation remains the same, unless there is a breakdown of one or both limits.
*这里的市场分析是为了增加您对市场的了解，而不是给出交易的指示。
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