EURUSD is moving in the Descending channel and the market has reached the lower high area of the channel.
The EU is one of the many regions facing a labour shortage problem as they are struggling to have enough workers to fill in regular job posts. As a result, they are now easing border requirements with Ireland and other regions in order to motivate people to migrate to their region.
XAUUSD Gold price is moving in an Ascending triangle pattern and the market has reached the horizontal resistance area of the pattern.
Russia is not hiding the fact that it has partnered up with China in the war against Ukraine. While China is hiding this new partnership so it doesn’t get brutalised by the international community, Russia is taking full advantage of it which may cause rocky waters in the partnership.
USDCAD is moving in an Ascending channel and the market has reached the higher low area of the channel.
Recent data reveal that the real problem in Canada’s job market is not that there’s a labour shortage but that people are quick to retire early. Early retirements are found to be the real cause of labour shortages in the country though the government can’t force people to work longer.
USDJPY is moving in an Ascending channel and the market has reached the higher low area of the channel.
Japan is struggling to bring in tourists to the country after the recent battle with the pandemic and inflation crisis. As a result, in order to motivate people to travel to Japan, they have now removed all visa restrictions to make it almost impossible to get rejected from entry to Japan.
USDCHF is moving in the Descending channel and the market has fallen from the lower high area and reached the horizontal support area of the pattern.
Switzerland is facing the brunt of the impact of climate change as glaciers that have been present in the region since the dawn of times are now melting due to unprecedented heatwaves in the region. These melting glaciers are posing flood threats and disease concerns in the region.
GBPUSD is moving in an Ascending channel and the market has fallen from the higher high area of the channel.
The recent death of the Queen has caused uncertainty in the UK and other commonwealth countries. People are debating whether King Charles III is even fit to rule over this vast kingdom and if he’ll do just a good of a job as Queen Elizabeth II.
GBPCHF is moving in the Descending channel and the market has reached the lower high area of the channel.
The recent death of Queen Elizabeth II brings mixed reactions from all over the world. The EU has been a big supporter of the Queen and her death has brought uncertainty to the region. A day of mourning has been announced to take place every year on the Queen’s death anniversary.
Crude Oil Analysis
Crude Oil is moving in the Descending channel and the market has rebounded from the lower low area of the channel.
It’s monetary policy decision season once again. As a result, crude oil prices are facing declines and instability in anticipation of possible rate hikes in several different regions around the world. However, these rate hikes have so far been unable to curb the inflation crisis.
AUDUSD is moving in the Descending channel and the market has reached the Lower high area of the channel.
Australia is facing both a labour shortage and a declining housing market. It is evident that the Australian economy is making its way to a recession very soon. While the Reserve Bank of Australia is set to increase rates by 40 basis points once again, this won’t make much of a difference.
NZDUSD is moving in the Descending channel and the market has reached the lower high area of the channel.
While New Zealand had reopened their borders after the pandemic crisis a while ago, it was only today that they eradicated the rule of having to wear a mask outside. They also no longer have vaccine mandates set in place so the unvaccinated can travel freely in the country now.
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