Market trading news and analysis

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.

EUR/GBP is retesting a long-term support zone which is relevant across multiple timeframes. Let’s explore the trading opportunities available on different timeframes.

Copper price drops over 5% on Thursday as traders take profits following the FOMC meeting minutes.

The EURGBP is driven by the question: which cuts first, the ECB or the BOE? Currently, swaps markets (chart below) imply that it will be the ECB (blue line).

Market pricing has tipped in favour of ‘no rate cut’ at the upcoming Bank of England (BoE) meeting in June after UK CPI came in higher than expected this morning. Markets were assigning a 50/50 chance of a rate cut in June before the CPI release according to data from Reuters. The probability of a cut has now dropped to 15%.

The latest round of inflation data will be released at 22 April at 7 am BST and investors are likely going to be paying close attention.

The Reserve Bank of New Zealand (RBNZ) meets on Wednesday, May 22, 2024. We preview what to expect from the meeting and its possible impact on the NZD/USD.

Nvidia (NVDA) reports its Q1 results after the closing bell on Wednesday, May 22nd. We preview what to expect from Nvidia’s earnings and analyse its stock's technicals.