Market trading news and analysis

After months of waiting, a rate cut from the ECB on Thursday looks like a done deal. Data from Reuters shows markets pricing in a 96% chance of a 25-basis point cut from the European Central Bank following Thursday’s policy meeting.

Let’s take a look at three FTSE 100 heavyweights demonstrating high levels of relative strength.

Consumer inflation ticked up in May in the Eurozone but markets remain convinced a rate cut is coming on June 6th.

GBP/USD turned bearish on Wednesday after being rejected at 1.28 the day prior. It’s not the first time the pair has been rejected at that level which suggests it has become somewhat of a psychological barrier, at which buyers need to show increased commitment to overcome.

US equity indices pull back from recent highs as traders prepare for the US PCE data

Crude oil prices extend their losses on Thursday. US crude (WTI) has pulled back to $78.50 per barrel, ending the bullish attempt to regain the $80 handle after bouncing from $76 earlier this week.

USD/JPY attempts to build bullish momentum but fears of FX intervention limit the advances

The markets continue to look for signals of disinflation in the United States. The latest PCE Index data, the US Federal Reserve’s preferred inflation gauge, is released on May 31, 2024.

Welcome to the second part of our educational series, Brilliant Basics. In this series, we'll explore how mastering the fundamentals lays the groundwork for achieving high-level performance in trading. Today, we focus on reversal zones, specifically the art of drawing support and resistance consistently across multiple timeframes.

Gold and Silver move higher after last week’s pullbacks but the precious metals are struggling with resistance ahead of the US PCE release.