Register for MT4 Demo Account

Register for xStation Account

Rise in U.S CPI Rate Led Heavy Selling in Overall Market

By Research Team Thursday, May 12, 2022
GBP/USD

    • 1.43pmW1
    • High1.22843
    • Low1.21798
    • Close1.21803

GBP/USD is trading at 1.21980, 0.29% down since previous day close. The selling bias continued to be seen in Sterling Pound post release of country’s GDP data which grew by just 0.8% lower than 1.3% in the prior month. This indicates slowdown in industrial progress amid global cues. The rise in U.S CPI rate aggravates inflationary issues which zooms up the USD & weakens the GBP. Globally, the worsening situation between Russia & Europe over Oil & gas ban issues & escalating Covid-19 cases in China supports USD & softened the other currencies. As seen in the chart, the pair is trading below the major resistance of Fibo level 61.8 which signals for selling on rallies on daily basis.

Read More… Read Less

Daily Outlook

GBP/USD

Intra Day
Near Day

Technical Levels

R3 1.26247
R2 1.24565
R1 1.23448
Turnaround 1.22883
S1 1.21766
S2 1.21201
S3 1.19519
By Research Team Thursday, May 12, 2022
WTI OIL

    • 2.25pmD1
    • High106.24
    • Low102.65
    • Close103.05

WTI Oil is trading at $103.17, 0.08% down since previous day close. The prices slightly moved up post release of Energy Information Administration (EIA) report which showed a rise in Oil inventory levels by 8.5 mbpd higher than expectation. However, the mounting Covid-19 cases in China affect the consumption demand of Oil & its prices; since China is a top Oil consumer. Also, the traders wait for the outcome of EU talks over Russia Oil & gas supplies ban. The stronger USD amid Fed’s rate hike decision softened the dollar denominated commodities like Crude Oil. As seen in the chart, the oil is hovering near MA (100) which acts as a major support level & hence, cautious trading may be recommended for the day.

Read More… Read Less

Daily Outlook

WTI OIL

Intra Day
Near Day

Technical Levels

R3 119.16000
R2 111.37000
R1 108.54000
Turnaround 103.58000
S1 100.75000
S2 95.79000
S3 88.00000
By Research Team Thursday, May 12, 2022
US30

    • 2.07pmW1
    • High31890
    • Low31530
    • Close31596

US30 is trading at 31585, 0.36% down since previous day close. The selling pressure continued to be seen in U.S markets post release of U.S CPI data which showed a rise in inflation rate by 0.3% higher than expectation. This may increase the chances of interest rate hikes in the forthcoming meetings. Besides this, the worsening Covid-19 situation China, the FOMC’s decision of raising interest rate by 50 bps & the rising tension between Russia & Europe made US30 to trade on lower side. The result of Jobless Claims & PPI data will remain in focus for the day. As seen in the chart, the index seems to be crossing down the major support level of previous lows & also, the RSI line is hovering near lower level 30. Selling bias may be established for the day.

Read More… Read Less

Daily Outlook

US30

Intra Day
Near Day

Technical Levels

R3 33587.00000
R2 32801.00000
R1 32317.00000
Turnaround 32015.00000
S1 31531.00000
S2 31229.00000
S3 30443.00000
footer-logo

XFlow Markets provides an entirely transparent access to the FOREX Market through two powerful trading platforms (XFLOW & MT4) with excellent execution speed, a 24/5 client support system with no dealing desk involvement.

© 2022 XFlow Markets LLC, All rights reserved.

Risk Warning: Leveraged trading in foreign currency contracts or other off-exchange products on margin carries a high level of risk and may not be suitable for everyone. We advise you to carefully consider whether trading is appropriate for you in light of your personal circumstances.

You may lose more than you invest. Information on this website is general in nature. We recommend that you seek independent financial advice and ensure you fully understand the risks involved before trading. Trading through an online platform carries additional risks.

XFlow Markets does not offer Contracts for Difference to residents of certain jurisdictions including the Belgium, Iran, Canada, North Korea, the USA, Cuba, Syria and FATF Black Listed Countries.

  • triangle.png
  • Regulated by FSA

    The interests of XFlow Markets clients are protected by the Financial Commission’s Compensation Fund for up to USD 150,000 per claim.

XFlow Markets is incorporated in Saint Vincent and the Grenadines with registration no. 255 LLC governed by the Limited Liability Companies Act Chapter 151, registered by the Financial Service Authority of Saint Vincent and the Grenadines.

XFlow Markets is not required to hold any financial services license or authorization in Saint Vincent and the Grenadines to offer its products and services.

Telephone number: +44 20 4571 0278 Working hours: 7:00 AM - 5:00 PM (GMT+0)