{"id":24227,"date":"2022-03-22T18:04:00","date_gmt":"2022-03-22T18:04:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=24227"},"modified":"2022-03-22T22:02:49","modified_gmt":"2022-03-22T22:02:49","slug":"sterling-gains-against-the-euro-ahead-of-tomorrows-uk-cpi","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/sterling-gains-against-the-euro-ahead-of-tomorrows-uk-cpi\/","title":{"rendered":"Sterling gains against the euro ahead of tomorrow\u2019s UK CPI"},"content":{"rendered":"\t\t
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Market Wrap<\/strong><\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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See real-time quotes<\/a> provided by our partner.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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Federal Reserve Chair Jerome Powell announced yesterday that, if deemed appropriate, the central bank will increase interest rates by more than 25 basis points at a future “meeting or meetings.” Fed\u2019s Bullard, who was a rebel during the last FOMC meeting, argued for a 50-basis-point hike, but the rest of the committee agreed on 25 basis points, is now doubling down and calling for 300 basis points in the first year of the rate hike cycle. The Fed is, in his view, adding to inflationary pressures as businesses pass on higher costs to their customers. Yields on 10-year Treasury<\/a> notes rose 5.6 basis points to 2.373%. The US dollar index<\/a> had been weakening through the London session but rose into the start of the US session to test the intraday resistance. If the 98.595 level should hold the next logical level to the downside is a test of the 97.730, but a rising bond yield is likely to keep supporting the greenback.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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See real-time quotes<\/a> provided by our partner.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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The rate hikes and hawkish Fed lifted the USDJPY<\/a> and that is dragging up the other yen crosses. In this morning\u2019s TA video, I described how the 90 level on AUDJPY<\/a> looked like today\u2019s target and as the London session ends, we\u2019re still not quite there yet but certainly within reach.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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The ActivTrader sentiment indicator is so one-sided in this trade it is inevitable that the trend continues until these traders are stopped out or flip to the bullish side.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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Today\u2019s forex heatmap has shown the yen weaker relative to every other currency all day, with the NZD<\/a> and AUD<\/a> battling it out for the relative strongest pair. There has been a relatively risk-on positioning in the forex market and today\u2019s global equities are all ending the London session green. Hang Seng<\/a> ended the day +3.15% and the Nasdaq<\/a> is the closest US major with a 1.56% rise at the time of writing. The risk-on flows saw the precious metals market dip again, with gold<\/a> and silver<\/a> losing -0.68% and -1.46% respectively.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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See real-time quotes<\/a> provided by our partner.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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The EURGBP<\/a> has dipped since the Bank of England raised its bank rate again and the price action is closing in on a possible reversal level. Personally, I am hoping it pushes through the 0.83152 – 0.83041 zone and takes out the lower low. However, I will be watching tomorrow to see if the bulls try and take control. If Belarus were to join in the war against Ukraine this would surely push the euro complex a lot lower as this would be a defining step towards a larger scale war. Belarusian opposition forces are combat ready and will deploy in their thousands. Tomorrow, we hear from the Bank of England governor and receive the UKs annual budget release. Prior to these key announcements there is UK CPI data out before the London open so we could be on for a volatile day in the pound tomorrow.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

Market Wrap See real-time quotes provided by our partner. Federal Reserve Chair Jerome Powell announced yesterday that, if deemed appropriate, the central bank will increase interest rates by more than 25 basis points at a future “meeting or meetings.” Fed\u2019s Bullard, who was a rebel during the last FOMC meeting, argued for a 50-basis-point hike, […]<\/p>\n","protected":false},"author":5,"featured_media":6304,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[74,58,64,24,101,567,288,40],"yoast_head":"\nSterling gains against the euro ahead of tomorrow\u2019s UK CPI - Youtrading UK<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/youtrading.com\/en\/sterling-gains-against-the-euro-ahead-of-tomorrows-uk-cpi\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sterling gains against the euro ahead of tomorrow\u2019s UK CPI Sterling gains against the euro ahead of tomorrow\u2019s UK CPI\" \/>\n<meta property=\"og:description\" content=\"It has been a busy day for those that talk, which generally messes the day up for those that trade. Tomorrow is not much better, so if you are trading you must keep very nimble, reduce your size and widen your stops. The war in Ukraine is about to intensify and the markets are going to be preparing for increasing supply chain disruptions from China due to covid and also due to the war. Volatility could rise again but thankfully it is still dropping.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/youtrading.com\/en\/sterling-gains-against-the-euro-ahead-of-tomorrows-uk-cpi\/\" \/>\n<meta property=\"og:site_name\" content=\"Youtrading UK\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/YouTradingEnglish\/\" \/>\n<meta property=\"article:published_time\" content=\"2022-03-22T18:04:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-03-22T22:02:49+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/04\/GettyImages-531349775.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"479\" \/>\n\t<meta property=\"og:image:height\" content=\"303\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Neville Hornsey\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Sterling gains against the euro ahead of tomorrow\u2019s UK CPI Sterling gains against the euro ahead of tomorrow\u2019s UK CPI\" \/>\n<meta name=\"twitter:description\" content=\"It has been a busy day for those that talk, which generally messes the day up for those that trade. Tomorrow is not much better, so if you are trading you must keep very nimble, reduce your size and widen your stops. The war in Ukraine is about to intensify and the markets are going to be preparing for increasing supply chain disruptions from China due to covid and also due to the war. Volatility could rise again but thankfully it is still dropping.\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Neville Hornsey\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/youtrading.com\/en\/sterling-gains-against-the-euro-ahead-of-tomorrows-uk-cpi\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/youtrading.com\/en\/sterling-gains-against-the-euro-ahead-of-tomorrows-uk-cpi\/\"},\"author\":{\"name\":\"Neville Hornsey\",\"@id\":\"https:\/\/youtrading.com\/en\/#\/schema\/person\/95b20558021997bd74f4db43fabddf85\"},\"headline\":\"Sterling gains against the euro ahead of tomorrow\u2019s UK CPI\",\"datePublished\":\"2022-03-22T18:04:00+00:00\",\"dateModified\":\"2022-03-22T22:02:49+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/youtrading.com\/en\/sterling-gains-against-the-euro-ahead-of-tomorrows-uk-cpi\/\"},\"wordCount\":509,\"publisher\":{\"@id\":\"https:\/\/youtrading.com\/en\/#organization\"},\"keywords\":[\"AUDJPY\",\"Brent\",\"Crude oil\",\"EURGBP\",\"Inflation\",\"Rate hikes\",\"US 10-year yield\",\"US DOLLAR INDEX\"],\"articleSection\":[\"Forex\"],\"inLanguage\":\"en-GB\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/youtrading.com\/en\/sterling-gains-against-the-euro-ahead-of-tomorrows-uk-cpi\/\",\"url\":\"https:\/\/youtrading.com\/en\/sterling-gains-against-the-euro-ahead-of-tomorrows-uk-cpi\/\",\"name\":\"Sterling gains against the euro ahead of tomorrow\u2019s UK CPI - Youtrading UK\",\"isPartOf\":{\"@id\":\"https:\/\/youtrading.com\/en\/#website\"},\"datePublished\":\"2022-03-22T18:04:00+00:00\",\"dateModified\":\"2022-03-22T22:02:49+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/youtrading.com\/en\/sterling-gains-against-the-euro-ahead-of-tomorrows-uk-cpi\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/youtrading.com\/en\/sterling-gains-against-the-euro-ahead-of-tomorrows-uk-cpi\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/youtrading.com\/en\/sterling-gains-against-the-euro-ahead-of-tomorrows-uk-cpi\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/youtrading.com\/en\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Sterling gains against the euro ahead of tomorrow\u2019s UK CPI\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/youtrading.com\/en\/#website\",\"url\":\"https:\/\/youtrading.com\/en\/\",\"name\":\"Youtrading UK\",\"description\":\"Leaders in Trader Training\",\"publisher\":{\"@id\":\"https:\/\/youtrading.com\/en\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/youtrading.com\/en\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-GB\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/youtrading.com\/en\/#organization\",\"name\":\"YouTrading\",\"url\":\"https:\/\/youtrading.com\/en\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/youtrading.com\/en\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2020\/12\/Logo-Youtrading-2020_preto.svg\",\"contentUrl\":\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2020\/12\/Logo-Youtrading-2020_preto.svg\",\"width\":2531,\"height\":570,\"caption\":\"YouTrading\"},\"image\":{\"@id\":\"https:\/\/youtrading.com\/en\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/YouTradingEnglish\/\",\"https:\/\/www.instagram.com\/youtrading_english\/\",\"https:\/\/www.youtube.com\/channel\/UCc22BNolZpSd33lXc8utUvg\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/youtrading.com\/en\/#\/schema\/person\/95b20558021997bd74f4db43fabddf85\",\"name\":\"Neville Hornsey\",\"description\":\"Neville Hornsey holds a BA Honours 2.1 in Professional Media and has been a professional trader since 2007. Neville has worked for several brokerages and prop firms, specialising in the Foreign exchange and Futures markets and blends technical analysis with fundamentals, with a bias towards swing and intraday trade setups.\",\"url\":\"https:\/\/youtrading.com\/en\/author\/nevillehornsey\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Sterling gains against the euro ahead of tomorrow\u2019s UK CPI - Youtrading UK","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/youtrading.com\/en\/sterling-gains-against-the-euro-ahead-of-tomorrows-uk-cpi\/","og_locale":"en_GB","og_type":"article","og_title":"Sterling gains against the euro ahead of tomorrow\u2019s UK CPI Sterling gains against the euro ahead of tomorrow\u2019s UK CPI","og_description":"It has been a busy day for those that talk, which generally messes the day up for those that trade. Tomorrow is not much better, so if you are trading you must keep very nimble, reduce your size and widen your stops. The war in Ukraine is about to intensify and the markets are going to be preparing for increasing supply chain disruptions from China due to covid and also due to the war. 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