A Week in the Market: High Tension (19-23 June)
<div><img width="360" height="360" src="https://blog.roboforex.com/wp-content/uploads/2023/06/19.06.23-360×360.jpg" class="attachment-thumbnail size-thumbnail wp-post-image" alt="A Week in the Market: High Voltage (19-23 June)" decoding="async" loading="lazy" style="margin-bottom: 15px;" /></div><p>Market sentiments are not likely to change this week, but investors will definitely not get bored.</p>
<h2>GBP: the ball is in the court of the Bank of England</h2>
<div><rg-instrument theme="blue" symbol="GBPUSD"></rg-instrument></div>
<figure><img decoding="async" loading="lazy" width="1200" height="627" src="https://blog.roboforex.com/wp-content/uploads/2023/06/1.jpeg" alt="GBP: the ball is in the court of the Bank of England" class="wp-image-15332" srcset="https://blog.roboforex.com/wp-content/uploads/2023/06/1.jpeg 1200w, https://blog.roboforex.com/wp-content/uploads/2023/06/1-360×188.jpeg 360w, https://blog.roboforex.com/wp-content/uploads/2023/06/1-768×401.jpeg 768w" sizes="(max-width: 1200px) 100vw, 1200px" /></figure><p>The key event for the <a href="https://roboforex.com/beginners/info/charts/forex/gbpusd/" data-internallinksmanager029f6b8e52c="36" title="GBP/USD">GBP</a> this week is the Bank of England meeting, which is signalling a clear hawkish stance. The <a href="https://blog.roboforex.com/blog/2019/10/22/trading-news-how-to-earn-on-interest-rates/" data-internallinksmanager029f6b8e52c="90" title="Interest rate">interest rate</a> is likely to be raised. <a href="https://blog.roboforex.com/blog/2019/11/28/signals-on-forex-where-to-search-how-to-find-filter-and-create/" data-internallinksmanager029f6b8e52c="101" title="Signals">Signals</a> about the Central Bank’s future actions are also very important to the market. Under these circumstances, the pound is rising and may continue its rally.</p>
<h2>JPY: in a devaluation trend</h2>
<div><rg-instrument theme="blue" symbol="USDJPY"></rg-instrument></div>
<figure><img decoding="async" loading="lazy" width="1200" height="627" src="https://blog.roboforex.com/wp-content/uploads/2023/06/2.jpeg" alt="JPY: in a devaluation trend" class="wp-image-15333" srcset="https://blog.roboforex.com/wp-content/uploads/2023/06/2.jpeg 1200w, https://blog.roboforex.com/wp-content/uploads/2023/06/2-360×188.jpeg 360w, https://blog.roboforex.com/wp-content/uploads/2023/06/2-768×401.jpeg 768w" sizes="(max-width: 1200px) 100vw, 1200px" /></figure><p>Japan is to release data on the core <a href="https://blog.roboforex.com/blog/2021/08/25/what-is-consumer-price-index-and-how-to-use-it-in-forex/" data-internallinksmanager029f6b8e52c="197" title="CPI">CPI</a>, which can demonstrate key price trends. In addition, the minutes of the previous BoJ meeting will be released. They are unlikely to indicate an imminent monetary policy reversal, but the publication is worth a look. Devaluation remains the main scenario for the <a href="https://roboforex.com/beginners/info/charts/forex/usdjpy/" data-internallinksmanager029f6b8e52c="40" title="USD/JPY">JPY</a>.</p>
<h2>EUR: supported by the ECB</h2>
<div><rg-instrument theme="blue" symbol="EURUSD"></rg-instrument></div>
<figure><img decoding="async" loading="lazy" width="1200" height="627" src="https://blog.roboforex.com/wp-content/uploads/2023/06/3.jpeg" alt="EUR: supported by the ECB" class="wp-image-15334" srcset="https://blog.roboforex.com/wp-content/uploads/2023/06/3.jpeg 1200w, https://blog.roboforex.com/wp-content/uploads/2023/06/3-360×188.jpeg 360w, https://blog.roboforex.com/wp-content/uploads/2023/06/3-768×401.jpeg 768w" sizes="(max-width: 1200px) 100vw, 1200px" /></figure><p>The European Central Bank’s firm stance on future interest rate decisions is supporting the <a href="https://roboforex.com/beginners/info/charts/forex/eurusd/" data-internallinksmanager029f6b8e52c="35" title="EUR/USD">EUR</a> rate, and this factor remains relevant. Furthermore, it is worth paying attention to the Eurozone’s balance of payments statistics for April.</p>
<h2>USD: under pressure</h2>
<figure><img decoding="async" loading="lazy" width="1200" height="627" src="https://blog.roboforex.com/wp-content/uploads/2023/06/4.jpeg" alt="USD: under pressure" class="wp-image-15335" srcset="https://blog.roboforex.com/wp-content/uploads/2023/06/4.jpeg 1200w, https://blog.roboforex.com/wp-content/uploads/2023/06/4-360×188.jpeg 360w, https://blog.roboforex.com/wp-content/uploads/2023/06/4-768×401.jpeg 768w" sizes="(max-width: 1200px) 100vw, 1200px" /></figure><p>Recall that Monday is a public holiday in the US. Data on existing home sales and the index of leading <a href="https://blog.roboforex.com/blog/2019/11/19/top-10-forex-indicators-that-every-trader-needs/" data-internallinksmanager029f6b8e52c="99" title="Indicators">indicators</a> are to be published this week. The comments of the Fed regarding future steps on interest rates might be of interest. The USD is under pressure.</p>
<h2>AUD: showing strength</h2>
<div><rg-instrument theme="blue" symbol="AUDUSD"></rg-instrument></div>
<figure><img decoding="async" loading="lazy" width="1200" height="627" src="https://blog.roboforex.com/wp-content/uploads/2023/06/5.jpeg" alt="AUD: showing strength" class="wp-image-15336" srcset="https://blog.roboforex.com/wp-content/uploads/2023/06/5.jpeg 1200w, https://blog.roboforex.com/wp-content/uploads/2023/06/5-360×188.jpeg 360w, https://blog.roboforex.com/wp-content/uploads/2023/06/5-768×401.jpeg 768w" sizes="(max-width: 1200px) 100vw, 1200px" /></figure><p>The Reserve Bank of Australia is to release the minutes of its last meeting; investors will look for indications of the regulator’s future decisions. The <a href="https://roboforex.com/beginners/info/charts/forex/audusd/" data-internallinksmanager029f6b8e52c="33" title="AUD/USD">AUD</a> appears very strong so far.</p>
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