Daily Market Analysis By FXOpen

Oil Price Surges at Monday Open Amid US Strikes on Iran


As shown on the XBR/USD chart, the Brent crude oil price formed a bullish gap at the opening of financial markets this Monday, surpassing last week?s high.

Only three days ago, we drew attention to Donald Trump?s statement that a decision regarding US involvement in the Iran-Israel conflict would be made within two weeks ? yet over the weekend, US aircraft dropped bombs on Iran?s nuclear facilities.

Now oil prices are likely to be affected by Iran?s potential move to block shipping traffic through the Strait of Hormuz. According to Reuters, analysts suggest that in such a scenario, the oil price could climb to $100.



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.

Market Insights with Gary Thomson: 23 - 27 June

Market Insights with Gary Thomson: Canada Inflation, US Core Consumer Metrics, and Earnings Reports

In this video, we?ll explore the key economic events, market trends, and corporate news shaping the financial landscape. Get ready for expert insights into forex, commodities, and stocks to help you navigate the week ahead. Let?s dive in!

In this episode, we discuss:
? Inflation Rate in Canada
? US Durable Goods Orders
? US PCE Price Index, Personal Income & Personal Spending
? Corporate Earnings Statements

Don?t miss out?gain insights to stay ahead in your trading journey.




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.

Disclaimer: This video represents the opinion of the Companies operating under the FXOpen brand only. 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.

Stock Markets Rebound Following Trumps Ceasefire Announcement


Last night, U.S. President Donald Trump made a social media post announcing a ceasefire agreement between Iran and Israel. According to his own words, the ceasefire is set to last ?forever.? This announcement triggered a sharp bullish impulse (indicated by the blue arrow) on the S&P 500 index chart (US SPX 500 mini on FXOpen), pushing the price to a new high above the 6074 level.

Just yesterday, traders feared that the United States could be drawn into yet another costly war following bomber strikes on Iran?s nuclear facilities. However, today the stock markets are recovering, signalling growing optimism and a waning of fears over a major escalation of the conflict.



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.

Trading with Trendlines


Technical analysis is a method used in the financial markets to evaluate and forecast future price movements of assets, such as stocks, currencies, commodities, and cryptocurrencies*, based on historical price data. Trading with trendlines is a fundamental aspect of technical analysis employed by traders and investors to decipher market trends and optimise trading decisions. This article will cover how to draw trendlines on candlestick charts and will explain several trendline strategies.

What Are Trendlines?

Trendlines are graphical representations of price movements, helping traders visualise the overall direction of a market trend. They can be either upward (bullish), downward (bearish), or horizontal (sideways). Bullish trendlines connect ascending highs and lows, bearish trendlines connect descending highs and lows, while horizontal lines connect almost equal highs and lows.

VIEW 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.

The Yen and Euro Strengthen Ahead of Jerome Powell's Speech


The dollar continues to lose ground against the yen and euro amid an adjustment in market expectations ahead of today's speech by Federal Reserve Chair Jerome Powell. Market participants are expecting the Chair to comment on the outlook for interest rates and inflationary pressures in the United States.

An additional factor contributing to downward pressure on the dollar could be the upcoming release of U.S. data on building permits, new home sales, and crude oil inventories. Although these reports have not yet been published, analysts expect a moderate slowdown in the figures. This is fuelling speculation about a more dovish stance from the Fed in the coming months. In anticipation of these developments, market participants are adopting a cautious position, which is reflected in declining interest in the dollar.

The external backdrop is also contributing to the decline in demand for the dollar. Markets responded positively to reports of a potential de-escalation in the conflict between Israel and Iran, as well as indications of a partial withdrawal of the United States from direct military involvement. This has eased geopolitical tensions and supported the rise of so-called safe-haven currencies such as the yen and euro.

In the upcoming trading sessions, market dynamics will be focused on the tone of the Fed Chair's speech. Should his remarks confirm a willingness to ease policy in the second half of the year, the dollar may continue to decline locally against major currencies. Otherwise, a corrective rebound in the dollar may begin.



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.

Oil Price Falls Below Pre-Escalation Levels of Middle East Conflict


According to the XBR/USD chart:
→ Prior to Israel?s airstrikes on Iran on 13 June, the price of Brent crude was hovering around the $69.00 mark;
→ Following US bombings in Iran, the price spiked at the Monday market open, reaching a high of approximately $77.77 (as we reported on 23 June).

However, after President Trump announced a ceasefire between Iran and Israel ? later confirmed by statements from both sides ? oil prices dropped sharply. This morning, Brent is trading around $68, which is even lower than the level seen before the initial strikes.

Media outlets report that analysts broadly agree that fears have eased, even if the ceasefire appears fragile. Market participants seem to view the likelihood of the conflict escalating into a full-scale ground war ? involving US troops and the closure of the Strait of Hormuz ? as low. Shipping through the strait is reportedly returning to normal.



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.

Markets Consolidate Ahead of Key Economic Data from the US and Canada


Currency markets are showing restrained movement, with USD/CAD and AUD/USD pairs remaining in a consolidation phase amid rising geopolitical tensions and anticipation of key economic data releases from the US and Canada. Investors are opting for a wait-and-see approach ahead of inflation data and consumer activity reports that could significantly impact interest rate trajectories.

An additional source of uncertainty came from geopolitical developments: US President Donald Trump unexpectedly stated that China may continue purchasing oil from Iran despite existing US sanctions. This statement, made after the announcement of a ceasefire between Iran and Israel, caused confusion in the market and contributed to increased volatility in oil prices. The renewed focus on the Middle East is strengthening interest in commodity-linked currencies but also increasing the volatility of currency pairs sensitive to raw material prices.

Today, market participants await the release of US data on initial jobless claims, personal spending, trade inventories, and the Consumer Expenditure Price Index. From Canada, data on wholesale sales and average weekly earnings are expected. Forecasts suggest the numbers will fall within expected ranges, but any deviations could trigger moves in the USD/CAD and AUD/USD pairs.



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.