Since the FED last week went from an ultra hawkish stance to a more data dependant one it is clear that US data will now become even more important and volatile for USD pairs and also for the whole market.
And thats great news! It means we can now extract pips from the market every time there are important US news like for example the ISM manufacturing data...
The SNB delievered a real game changer in the last week and hiked its rate by 0,50%. The whole market got catched on the wrong foot and the EURCHF dropped immediatly by more than 200 Pips.
So whats next for the franc?
The SNB explained that they could intervene now from both sides.
So they could either slow a appreciating CHF (as they did many times) or they...
A detailed GBP analysis:
➡️Last week's PMIs were disastrous. GDP often follows the PMIs, which paints a very bleak picture for the future of the UK economy.
➡️Inflation is at a dizzying 9%.
➡️The consumer is suffering the consequences of inflation and sentiment is thus in the basement.
➡️Sometimes retail sales also follow consumer sentiment...