Our team has over 7,000,000 traders!
Every day we work together to improve trading. We get high results and move forward.
Recognition by millions of traders all over the world is the best appreciation of our work! You made your choice and we will do everything it takes to meet your expectations!
We are a great team together!
InstaSpot. Proud to work for you!
Actor, UFC 6 tournament champion and a true hero!
The man who made himself. The man that goes our way.
The secret behind Taktarov's success is constant movement towards the goal.
Reveal all the sides of your talent!
Discover, try, fail - but never stop!
InstaSpot. Your success story starts here!
Both euro and pound saw brief rebounds, following Friday's decline. It developed into a sideways movement not only due to the empty macroeconomic calendar, but also on the Labor Day holiday in the US.
Further movement will depend today on the Producer Price Index (PPI) data in the eurozone, which forecasts say could accelerate from -3.4% to -7.8%. However, recent inflation estimates suggest that the decline will not be as impressive, hinting at a slower decrease in inflation. This could be a precursor to further tightening of the ECB's monetary policy, which will result in euro rising a bit more, pulling pound along with it. But if the forecasts come true, dollar will start to rise.
If producer prices decline sharply, it will lead to a downward trend in inflation. In such conditions, the ECB may consider easing the monetary policy.
EUR/USD continues to decline despite several attempts at partial recovery. Updating the local low will likely lead to a surge in short positions, which will further weaken the pair. An alternative scenario will be considered if the price returns above 1.0800.
GBP/USD reached the previously passed level of 1.2650, along which the volume of long positions decreased. For the decline to continue, sellers need to overcome the support level of 1.2550.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
InstaSpot analytical reviews will make you fully aware of market trends! Being an InstaSpot client, you are provided with a large number of free services for efficient trading.
