Forex NewsLetter:Pound Holds Steady Amid Rate Cut Uncertainty

ForexNewsLetter:Pound Holds Steady Amid Rate Cut Uncertainty

The forex newsletter for the day is here. Without further adieu, let’s dive in!

Dollar Index

Buy above 104.40

Upside Targets Looks 104.80—105.30

Stop loss Below 103.90


Sell Below $2325

Down side Target Looks $2314–$2305
Stop-loss above 2335


Sell around $31.00

Downside Target Looks $30–$29
Stop-loss above $32


Sell around $4.72

Down side Targets Look $4.60–$4.50

Stop Loss below $4.84


Crude Oil is Trading Around $77.12!!

Buy above $ 77.60

Up side Target $79—$80
Stop-loss Below $76


sell below 18600

Down side Target Looks 18400 —18200

Stop-loss Below-18800

S&P 500 E-Mini

Buy above 5320

Stop loss above 5250
Down side Target Looks 5400–5450


Buy above 1.0860 Stop Loss below 1.0820 Target- 1.0900

Forex News in Focus:

The British Pound (GBP) is expected to maintain its current trading range this week, with no significant data points or interest rate decisions scheduled. The Bank of England (BoE) is not set to make its next rate call until June 20, and markets are pricing in only one quarter-point rate cut this year. The Pound’s strength is attributed to the uncertainty surrounding the timing of rate cuts, with inflation in the UK trending downward but not fast enough to support significant rate reductions. The Pound’s neutral outlook is further influenced by the upcoming European Central Bank (ECB) rate decision, which is expected to be the first major rate cut this week

Happy Trading!

Commodity Samachar
Learn and Trade with Ease

Also Read:Crude Oil Price: The OPEC+ Decision That Could Change Everything Economic Data: This week’s focus is on US NFP, Canada and ECB rate decision!

Recommended Read:The Commodity Market — Why is it advantageous to traders?

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