Resolve Posted September 30 Author Share Posted September 30 USD/JPY Analysis: The Yen Strengthens by Over 2.8% in One Day According to Reuters, it was announced on Friday that Shigeru Ishiba, known for his tough stance on interest rates, will become Japan's next Prime Minister. This news caused a sharp intraday reversal in the USD/JPY exchange rate on Friday: while the price initially rose in the morning (as shown by the arrow), it was followed by a sharp downward impulse later in the day. Technical analysis of the USD/JPY chart shows: → The price made a false bullish breakout of the upper boundary of the descending channel before retreating back inside it; → The price broke the upward trend (marked by blue lines); TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. Link to comment Share on other sites More sharing options...
Resolve Posted October 1 Author Share Posted October 1 What Is a Diamond Chart Pattern, and How Can You Trade It? The diamond chart pattern is a technical analysis tool used by traders in different financial markets for breakout trading. It can provide valuable insights into potential price movements and trend reversals. However, it can be challenging to find it in a price chart. In this FXOpen article, we will tell you how to spot the diamond formation and build your own trading strategy. Overview of the Diamond Pattern The diamond is a reversal pattern, meaning it can signal a potential trend change in the market. It typically occurs after an extended trend and indicates a period of consolidation before a potential breakout in the opposite direction. The diamond can be bearish and bullish; therefore, it is also known as the diamond top pattern and diamond bottom pattern for trading. A bearish formation typically occurs during an uptrend and signals a potential reversal to the downside, while a bullish diamond pattern in trading forms during a downtrend and signals a potential reversal to the upside. TO VIEW THE FULL ARTICLE, VISIT FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. RISK WARNING: Trading on the Forex market involves substantial risks, including complete possible loss of funds and other losses and is not suitable for all members. Clients should make an independent judgement as to whether trading is appropriate for them in the light of their financial condition, investment experience, risk tolerance and other factors. Link to comment Share on other sites More sharing options...
Resolve Posted October 1 Author Share Posted October 1 XAG/USD Analysis: Silver Price Fails to Hold at 11-Year High As shown on the XAG/USD chart, during the trading session on 26th September, the price of silver surpassed the previous 2024 high (set in July), reaching levels last seen in December 2012. Key drivers of silver’s price include news related to the Federal Reserve’s policy: → Last month, when the Federal Reserve cut interest rates, it led to a rise in both gold and silver prices. → However, precious metal prices dipped slightly yesterday after Fed Chair Jerome Powell adjusted expectations regarding further rate cuts this year, stating that the Fed would not rush into making more reductions. TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. Link to comment Share on other sites More sharing options...
Resolve Posted October 1 Author Share Posted October 1 EUR/USD Rate Accelerates Decline Following European Inflation News According to the Eurostat data released today: → Core CPI Flash Estimate (YoY): actual = 2.7%, expected = 2.7%, previous = 2.8%; → CPI Flash Estimate (YoY): actual = 1.8%, expected = 1.8%, previous = 2.2%. This news, coupled with yesterday’s statements from the Fed Chair, led to the EUR/USD rate dropping by over 1% from yesterday’s high. Could the downward trend continue? TO VIEW THE FULL ANALYSIS, VISIT THE FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. Link to comment Share on other sites More sharing options...
Resolve Posted October 2 Author Share Posted October 2 Market Analysis: EUR/USD Trims Gains, USD/JPY Eyes Fresh Increase EUR/USD declined from the 1.1200 resistance and corrected gains. USD/JPY is rising and might gain pace above the 144.65 resistance. Important Takeaways for EUR/USD and USD/JPY Analysis Today The Euro started a fresh decline below the 1.1150 support zone. There is a connecting bearish trend line forming with resistance at 1.1070 on the hourly chart of EUR/USD at FXOpen. USD/JPY climbed higher above the 142.50 and 143.40 levels. There is a connecting bullish trend line forming with support at 143.45 on the hourly chart at FXOpen. EUR/USD Technical Analysis On the hourly chart of EUR/USD at FXOpen, the pair struggled to clear the 1.1200 resistance zone. The Euro started a fresh decline and traded below the 1.1150 support zone against the US Dollar. The pair declined below 1.1125 and tested the 1.1100 zone. A low was formed near 1.1045 and the pair is now consolidating losses. There was a minor recovery wave above the 1.1060 level. On the upside, the pair is now facing resistance near a connecting bearish trend line at 1.1070. TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. Link to comment Share on other sites More sharing options...
Resolve Posted October 2 Author Share Posted October 2 XBR/USD Analysis: Brent Oil Price Soars After Attack on Israel Following Israel's military operation in Lebanon, Iran launched a missile strike on Israel on October 1. Financial markets reacted sharply as soon as the first reports of the attack emerged: → U.S. stock indices dropped significantly, and Bitcoin also fell, with BTC/USD nearing the psychological $60,000 mark at yesterday's low. → Gold surged to $2670, though supply forces have since curbed the panic buying, and XAU/USD has dropped back below $2650. Oil prices also spiked. Unlike other financial assets, there has been no correction on the XBR/USD chart today, despite the end of the missile strike on Israel. This highlights oil's heightened sensitivity to Middle Eastern tensions. TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. Link to comment Share on other sites More sharing options...
Resolve Posted October 2 Author Share Posted October 2 The Wyckoff Method: What It Is and How You Can Trade It The Wyckoff trading method is a classic approach to technical analysis, focusing on understanding market behaviour through price and volume patterns. Developed by Richard D. Wyckoff in the early 20th century, it helps traders identify market trends, reversals, and optimal entry and exit points. This comprehensive article explores the key principles of the Wyckoff method and how it can be applied to modern trading strategies. What Is the Wyckoff Method? The Wyckoff method is a type of technical analysis developed in the early 20th century by Richard D. Wyckoff, a renowned stock market trader and analyst. The method is based on the belief that markets are driven by fundamental supply and demand forces and that these forces can be traded through repeatable patterns. TO VIEW THE FULL ARTICLE, VISIT FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. RISK WARNING: Trading on the Forex market involves substantial risks, including complete possible loss of funds and other losses and is not suitable for all members. Clients should make an independent judgement as to whether trading is appropriate for them in the light of their financial condition, investment experience, risk tolerance and other factors. Link to comment Share on other sites More sharing options...
Resolve Posted October 2 Author Share Posted October 2 Analysis of GBP/CAD: Price Falls Below 1.800 Level In the first nine months of 2024, the GBP/CAD exchange rate rose by over 7%, surpassing the significant 1.800 level. The last time GBP/CAD remained consistently above this level was back in 2016, but it later dropped below. Since then, bulls have made two attempts to push the price above 1.800: in 2018 and again in 2020 (during the coronavirus panic) – both of which failed. A third attempt occurred when GBP/CAD climbed above 1.800 in September 2024, but yesterday’s large bearish candles (marked with an arrow) suggest that this attempt to stay above 1.800 may also fail. Yesterday’s decline in GBP/CAD was driven by a combination of factors, including: → A rise in oil prices, which strengthens the Canadian dollar as Canada is a major exporter of oil; → A slowdown in manufacturing activity in the UK during September, as reported by Reuters. TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. Link to comment Share on other sites More sharing options...
Resolve Posted October 3 Author Share Posted October 3 Simple, Weighted, and Exponential Moving Averages: The Differences Moving averages (MAs) are commonly used indicators in technical analysis; in fact, they are among the first indicators traders will consult when forming a trading strategy. There are several types of averages, including a simple moving average (SMA), a weighted moving average (WMA), and an exponential moving average (EMA), each with its unique features. In this FXOpen article, we compare SMA vs EMA vs WMA and explore how to use MA indicators in trading. What Is an MA in Trading? A moving average (MA) in trading is a tool used to analyse market movements over a specific period. Represented as a line on a chart, an MA indicator smooths out fluctuations by averaging the data points over the selected timeframe. This helps traders identify trends and make decisions about when to buy or sell. The moving average meaning varies based on the type and calculation method, but the core function is to filter out short-term noise and highlight the underlying trend. The primary difference between various MAs lies in the weight given to recent versus older data points. Some give equal weight to all data, while others emphasise recent movements, making them more sensitive to current market conditions. TO VIEW THE FULL ARTICLE, VISIT FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. RISK WARNING: Trading on the Forex market involves substantial risks, including complete possible loss of funds and other losses and is not suitable for all members. Clients should make an independent judgement as to whether trading is appropriate for them in the light of their financial condition, investment experience, risk tolerance and other factors. Link to comment Share on other sites More sharing options...
Resolve Posted October 3 Author Share Posted October 3 Lockheed Martin (LMT) Stock Price Surpasses $600 for the First Time As indicated by the Lockheed Martin (LMT) stock chart, after breaking through the psychological barrier of $600, the price has reached an all-time high. Remarkably, it took less than 2.5 months for the stock to climb from $500 to $600. Demand for Lockheed Martin (LMT) shares is being driven by consistent news of government contracts awarded to the company amid rising geopolitical tensions. These contracts include deals for F-35 Joint Strike Fighter aircraft, Trident II D5 missile production, and supplies for the U.S. missile defence system. The surge in orders has enabled Lockheed Martin’s board of directors (NYSE: LMT) to announce an increase in dividends for Q4 2024 by $0.15, bringing them to $3.30 per share. It is worth noting that the company has raised its dividends for 22 consecutive years. TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. Link to comment Share on other sites More sharing options...
Resolve Posted October 3 Author Share Posted October 3 Dollar Strengthens Ahead of Employment Data Release In early October, major currency pairs are trading with mixed directions. European currencies continue to trade within narrow ranges, commodity currencies are approaching key levels, and the Japanese yen has entered a full-scale downward correction. However, the upcoming U.S. employment report for September, set to be released at the end of this trading week, may either reinforce existing trends or spark new ones. USD/JPY Technical analysis of the USD/JPY pair indicates the potential for continued corrective growth, as a "piercing line" pattern formed on the daily timeframe on 30 September. The price managed to update the September high at 147.20. If the 147.20–147.00 range turns into support, the pair could strengthen towards 149.40–149.00. A break below the 146.00–145.00 range would invalidate the bullish scenario. TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. Link to comment Share on other sites More sharing options...
Resolve Posted October 4 Author Share Posted October 4 How to Trade on Support and Resistance Reversals Trading in the financial markets can be a complex endeavour, but it may become more manageable when traders have a solid grasp of support and resistance levels. Recognising support and resistance reversals is a crucial skill that may enhance one's trading performance. In this FXOpen article, we will learn the types of support and resistance and consider some trading strategies based on market reversals. Recognising Support and Resistance Reversals It’s unlikely you will need to ask, “What are support and resistance lines?” Still, let’s refresh your memory. A support line is a level at which an asset's price tends to find buying interest, preventing it from falling further. In other words, it's where demand for the asset is strong enough to counteract selling pressure. Traders often identify support as a potential point when going long or a take-profit target when selling. It can be formed at various price points on a chart and can be horizontal and diagonal (trendlines). TO VIEW THE FULL ARTICLE, VISIT THE FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. RISK WARNING: Trading on the Forex market involves substantial risks, including complete possible loss of funds and other losses and is not suitable for all members. Clients should make an independent judgement as to whether trading is appropriate for them in the light of their financial condition, investment experience, risk tolerance and other factors. Link to comment Share on other sites More sharing options...
Resolve Posted October 4 Author Share Posted October 4 Market Analysis: GBP/USD Takes Hit While EUR/GBP Consolidates Gains GBP/USD started a fresh decline from the 1.3425 resistance zone. EUR/GBP is rising and might climb above the 0.8435 resistance. Important Takeaways for GBP/USD and EUR/GBP Analysis Today The British Pound is showing bearish signs below the 1.3250 support. There is a key bearish trend line forming with resistance near 1.3170 on the hourly chart of GBP/USD at FXOpen. EUR/GBP is gaining pace and trading above the 0.8400 zone. There was a break above a connecting bearish trend line with resistance at 0.8330 on the hourly chart at FXOpen. GBP/USD Technical Analysis On the hourly chart of GBP/USD at FXOpen, the pair failed to stay above the 1.3400 pivot level. As a result, the British Pound started a fresh decline below 1.3320 against the US Dollar. There was a clear move below 1.3250 and the 50-hour simple moving average. The bears pushed the pair below 1.3150. Finally, there was a spike below the 1.3120 support zone. A low was formed near 1.3092 and the pair is now consolidating losses. TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. Link to comment Share on other sites More sharing options...
Resolve Posted October 4 Author Share Posted October 4 Boeing (BA) Shares Hover Near Two-Year Low Despite the S&P 500 index (US SPX 500 mini on FXOpen) rising roughly 20% since the start of 2024, Boeing (BA) shares are currently around the psychological level of $150 – a low last seen in autumn 2022. Several factors have driven bearish sentiment for Boeing in 2024: → Reputational setbacks due to technical issues, including helium leaks and engine malfunctions on the Starliner spacecraft intended for astronaut transport to the ISS. → Boeing has struggled to meet its aircraft delivery targets, and it reported significant financial losses in Q2 2024, with earnings per share nearly halving forecasted estimates, further impacting investor confidence. → Fines from the U.S. Department of Justice, worker strikes, and other operational challenges have compounded issues. TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. Link to comment Share on other sites More sharing options...
Resolve Posted October 4 Author Share Posted October 4 USD/JPY Analysis: Price Retreats from One-Month High The USD/JPY chart shows that yesterday (3 October), the price slightly surpassed the 147.230 level, marking the highest point since 3 September. This is significant as it indicates a new swing high, identified by the ZigZag indicator (in purple), which hasn’t been seen in months. Bullish arguments for the USD/JPY chart today: → The price is within an ascending channel (shown in blue), illustrating an upward trajectory for the US dollar. This follows a period where the yen gained strength, pushing the exchange rate below the psychological threshold of 140 yen per dollar. → After the price broke above the upper boundary of the blue channel (signifying overbought conditions), a correction (such as to the channel's median) appears appropriate. TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. Link to comment Share on other sites More sharing options...
Resolve Posted October 4 Author Share Posted October 4 Watch FXOpen's Sept 30 - Oct 4 Weekly Market Wrap Video Weekly Market Wrap With Gary Thomson: Brent Crude Oil, GBP/CAD, US Dollar, Lockheed Martin Stock Welcome to the 100th edition of our Weekly Market Wrap video series! Get the latest scoop on the week's hottest headlines, all in one convenient video. Join Gary Thomson, the COO of FXOpen UK, as he breaks down the most significant news reports and shares his expert insights. XBR/USD Analysis: Brent Oil Price Soars After Attack on Israel Analysis of GBP/CAD: Price Falls Below 1.800 Level Dollar Strengthens Ahead of Employment Data Release Lockheed Martin (LMT) Stock Price Surpasses $600 for the First Time Stay in the know and empower yourself with our short, yet power-packed video. Watch it now and stay updated with FXOpen. Don't miss out on this invaluable opportunity to sharpen your trading skills and make informed decisions. FXOpen YouTube #marketwrap #marketanalysis #forexmarketanalysis #stockmarketanalysis Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. RISK WARNING: Trading on the Forex market involves substantial risks, including complete possible loss of funds and other losses and is not suitable for all members. Clients should make an independent judgement as to whether trading is appropriate for them in the light of their financial condition, investment experience, risk tolerance and other factors. #fxopen #fxopenyoutube #fxopenint #weeklyvideo Link to comment Share on other sites More sharing options...
Resolve Posted October 7 Author Share Posted October 7 What Is an ABCD Pattern, and How Can You Use It in Trading? Are you looking to improve your trading strategy and technical analysis skills? The ABCD trading pattern may be just what you need. This tool may help you identify potential market reversals and decide when to enter a trade. Keep reading to learn more about the ABCD pattern and how to apply it to your trading strategy. What Is an ABCD Pattern? The ABCD pattern is one of the basic harmonic patterns. It gives traders an idea of where the market might reverse. Therefore, when combined with other forms of technical analysis, it may be a great addition to your trading arsenal. TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. RISK WARNING: Trading on the Forex market involves substantial risks, including complete possible loss of funds and other losses and is not suitable for all members. Clients should make an independent judgement as to whether trading is appropriate for them in the light of their financial condition, investment experience, risk tolerance and other factors. Link to comment Share on other sites More sharing options...
Resolve Posted October 7 Author Share Posted October 7 EUR/USD Analysis: The Exchange Rate Falls Below 1.100 As shown in today's EUR/USD chart, the euro has dropped below the 1.100 level against the US dollar. This decline is partly due to Friday's strong US jobs report, which revealed: → the largest job growth in six months, → a decrease in the unemployment rate, → solid wage growth. These factors suggest a resilient US economy and increase the likelihood of a "soft landing" following the inflation surge. TO VIEW THE FULL ANALYSIS, VISIT THE FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. Link to comment Share on other sites More sharing options...
Resolve Posted October 7 Author Share Posted October 7 Meta Platforms (META) Stock Price Nears $600 Milestone As reported by Barron’s, October has historically been the second-best month for the information technology sector in the S&P 500. The sector typically gains an average of 2.7% in October, according to Dow Jones Market Data. The best month is November, with an average increase of 3.1%. This trend likely follows the statistically weakest month—September. Meta Platforms (META)’s strong performance supports these historical patterns. In our analysis of Meta Platforms’ stock chart on 25th September, we noted that the price was forming an ascending channel (shown in blue). Before breaking a key resistance level at $540, the price formed a bullish “inverted cup and handle” pattern, which coincided with another bullish pattern—the “inverted head and shoulders.” Since then, Meta Platforms’ stock has maintained its upward trend, reaching new all-time highs. The price has surpassed $595 and is now nearing the psychological $600 mark. Several factors have contributed to the bullish sentiment: → The upcoming earnings season. Meta Platforms is set to release its Q3 results on 30th September. → Excitement surrounding new developments at Meta Platforms Inc., including the augmented reality device Orion and the AI-powered tool Movie Gen, which generates videos based on text prompts. → A strong stock market rally, driven by better-than-expected September jobs data. Non-farm payrolls increased by 254,000 last month, surpassing the consensus estimate of 150,000 from a Bloomberg survey. The unemployment rate fell to 4.1% from 4.2% in August, contrary to analysts' expectations of no change. TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG Disclaimer: This article represents the opinion of the FXOpen INT company only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the the FXOpen INT, nor is it to be considered financial advice. Link to comment Share on other sites More sharing options...
Resolve Posted October 7 Author Share Posted October 7 Analytical British Pound to Australian Dollar Predictions for 2024, 2025 and Beyond The British pound to Australian dollar (GBP/AUD) exchange rate, influenced by economic factors in the UK and Australia, is a key focus for traders. This article provides an in-depth analysis of recent trends and analytical British pound to AUD forecasts for 2024, 2025, and beyond, examining factors like monetary policy, inflation, and global trade. Recent GBP/AUD History The British pound (GBP) to Australian dollar (AUD) exchange rate has experienced significant fluctuations since 2019, driven by economic factors and global events. In 2019, the GBP/AUD exchange rate remained relatively stable in a general upward trend, opening around 1.78 and closing at 1.88. While Brexit uncertainty hit the pound, progress in late 2019 helped boost optimism. Meanwhile, the Australian dollar reflected the nation’s relatively strong economic performance. In early 2020, the COVID-19 pandemic triggered extreme volatility in global markets. The rate jumped to a high of 2.08 in March as investors dumped AUD. The Bank of England (BoE) rushed to cut interest rates amid a deep economic contraction. However, a sell-off started soon and the pair fell to 1.80 by July. Likewise, a recovery in commodities in the latter half of 2020 helped buoy the Australian dollar, with the pair ending the year at 1.77. In 2021, the GBP/AUD rate hovered between 1.74 and 1.91. The UK’s faster vaccination rollout and stronger economic recovery pushed the pound higher in the first half of the year. By August, the exchange rate hit a peak of 1.91, supported by the UK’s reopening after lockdowns. In contrast, Australia’s slow vaccine rollout and periodic lockdowns weakened the AUD. TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. Link to comment Share on other sites More sharing options...
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