{"id":65160,"date":"2023-06-27T10:52:46","date_gmt":"2023-06-27T07:52:46","guid":{"rendered":"https:\/\/ironfx-com-php8.wp-dev.int.theitops.net\/?p=65160"},"modified":"2024-08-26T12:26:22","modified_gmt":"2024-08-26T09:26:22","slug":"the-battle-against-inflation-is-far-from-over","status":"publish","type":"post","link":"https:\/\/www.ironfx-id.com\/ms\/the-battle-against-inflation-is-far-from-over\/","title":{"rendered":"The battle against inflation, is far from over"},"content":{"rendered":"<p>During yesterday\u2019s American session, New York Fed President Williams, stated yesterday that \u201cRestoring price stability is of paramount importance\u201d, potentially hinting that the bank may not be done with raising interest rates just yet. In Yesterday\u2019s Asian session, we highlight the statements made by Japan\u2019s Finance Minister that \u201cif there are too many excessive moves, we will reply accordingly\u201d, hinting that the Government may intervene in the FX market in order to protect the Japanese Yen. Over in Europe, during yesterday\u2019s trading session, Germany\u2019s IFO Business Climate and Business Expectations figures for June, both indicated a continued deterioration in one of Europe\u2019s largest economies, as the economy remains in a technical recession. In the UK Equities markets, we note the deal between Aston Martin (#AstonMartin) and US EV maker Lucid Group, by giving up a 3.7% stake in the company, in return to gaining access to Lucid Group\u2019s proprietary technology, leading to Aston Martin\u2019s stock soaring by 14% following the announcement. In the US Equities markets, IBM (#IBM) announced it would be buying software company Apptio for $4.6 billion, as the cloud services and AI race continues to be at the forefront of market developments. In addition, Tesla\u2019s (#TSLA) stock dropped by nearly 2% following the announcement by GoldmanSachs (#GS) that the stock was downgraded to Neutral, yet in the grander scheme of things, a minor reduction may be insignificant in the long run. Concerns about the supply of wheat appear to be heating up, with the&nbsp;executive director of the Oklahoma Wheat Commission, stating this may be the most challenging year for producers in the last 50 years. Impacting not only the state of Oklahoma but also the state of Kansas which is right next door, spiking fears about the long-term supply of wheat. OPEC appears to be courting Guyana to join the group, potentially consolidating more power across oil producers around the world.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe title=\"Fresh US data to increase volatility\" width=\"750\" height=\"422\" src=\"https:\/\/www.youtube.com\/embed\/AncFevYAM2k?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<p>GBP\/USD appears to be moving in a sideways motion after having failed to break below support at 1.2695. We maintain a neutral outlook for the pair as long as the pair remains confined between the support level at 1.2695 (S1) and resistance at the 1.2800 (R1) level and supporting our case is the narrowing of the Bollinger bands, implying low market volatility, in combination with the RSI figure below our 4-Hour chart currently registering a figure of 50, implying a neutral market sentiment. For a bullish outlook, we would like to see a clear break above the 1.2800 (R1) resistance level, with the next possible target for the bulls being the 1.2925 (R2) resistance ceiling. On the other hand for a bearish outlook, we would like to see a clear break below the 1.2695 (S1) support level, with the next possible target for the bears being the 1.2590 (S2) support base.<\/p>\n\n\n\n<p>WTICash appears to be moving in an upwards fashion. We maintain a bullish outlook for the pair and supporting our case is the upwards moving trendline, incepted on the 23<sup>rd<\/sup> of June. For our bullish outlook to continue, we would like to see a clear break above the 70.88 (R1) resistance level, with the next target for the bulls being the 73.45 (R2) resistance ceiling. On the other hand, for a bearish outlook we would like to see a clear break below the 68.50 (S1) support level, with the next possible target for the bears being the 65.50 (S2) support base.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-other-highlights-for-the-day\"><strong>Other highlights for the day:<\/strong><\/h2>\n\n\n\n<p>Today in the European session, we get from the UK the nationwide house prices for June, yet note that the release may be delayed, while on the monetary front we note that ECB President Christine Lagarde, BoE MPC member Dhingra, BoC Deputy Governor Kozinski and Norges Bank Governor Ida Wolden Bache are scheduled to speak. In the American session, we get Canada\u2019s CPI rates for May, and from the US the consumer confidence for June, the number of new home sales for May and the Richmond Fed Composite Index for June and the weekly API crude oil inventories figure. During tomorrow\u2019s Asian session we note the release of Australia\u2019s CPI rates for May.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-gbp-usd-h4-chart\"><strong>GBP\/USD H4 Chart<\/strong><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img fetchpriority=\"high\" decoding=\"async\" width=\"975\" height=\"476\" src=\"\/wp-content\/uploads\/2023\/06\/image-119.png\" alt=\"support at  one point two six nine five and resistance at  one point two eight three zero direction sideways\" class=\"wp-image-65161\" title=\"gbp-usd-four-hour-chart\"\/><\/figure>\n\n\n\n<p>Support: 1.2695 (S1), 1.2590 (S2), 1.2440 (S3)<\/p>\n\n\n\n<p>Resistance: 1.2830 (R1), &nbsp;1.2925 (R2), 1.3040 (R3)<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-wticash-h4-chart\"><strong>WTICash H4 Chart<\/strong><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"975\" height=\"476\" src=\"\/wp-content\/uploads\/2023\/06\/image-120.png\" alt=\"support at sixty eight point fifty and resistance at seventy point eighty eight upwards\" class=\"wp-image-65162\" title=\"wti-cash-four-hour-chart\"\/><\/figure>\n\n\n\n<p>Support: 68.50 (S1), 65.50 (S2), 63.10 (S3)<\/p>\n\n\n\n<p>Resistance: 70.88 (R1), 73.45 (R2), 76.70 (R3)<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"2000\" height=\"489\" src=\"\/wp-content\/uploads\/2023\/06\/image-121.png\" alt=\"\" class=\"wp-image-65163\" title=\"benchmark-27-06-2023\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"790\" height=\"656\" src=\"\/wp-content\/uploads\/2023\/06\/image-122.png\" alt=\"\" class=\"wp-image-65164\" title=\"morning-releases-27-06-2023\"\/><\/figure>\n\n\n\n<p class=\"translation-block\">If you have any general queries or comments relating to this article please send an email directly to our Research team at <a href=\"mailto:research_team@ironfx.com\" target=\"_self\">research_team@ironfx.com<\/a><\/p>\n\n\n\n<p>Disclaimer:<br>This information is not considered as investment advice or an investment recommendation, but instead a marketing communication. IronFX is not responsible for any data or information provided by third parties referenced, or hyperlinked, in this communication.<\/p>","protected":false},"excerpt":{"rendered":"<p>During yesterday\u2019s American session, New York Fed President Williams, stated yesterday that \u201cRestoring price stability is of paramount importance\u201d, potentially<\/p>","protected":false},"author":15,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-65160","post","type-post","status-publish","format-standard","hentry","category-uncategorized","blog-category-financial-news","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.3 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>The battle against inflation, is far from over.<\/title>\n<meta name=\"description\" content=\"During yesterday\u2019s American session, New York Fed President Williams, stated yesterday that \u201cRestoring price stability....\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ironfx.com\/ms\/wp-json\/wp\/v2\/posts\/65160\/\" \/>\n<meta property=\"og:locale\" content=\"ms_MY\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The battle against inflation, is far from over\" \/>\n<meta property=\"og:description\" content=\"During yesterday\u2019s American session, New York Fed President Williams, stated yesterday that \u201cRestoring price stability....\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.ironfx-id.com\/ms\/the-battle-against-inflation-is-far-from-over\/\" \/>\n<meta property=\"og:site_name\" content=\"Complete Turnkey Introducing Brokers (IB) Solution at IronFX\" \/>\n<meta property=\"article:published_time\" content=\"2023-06-27T07:52:46+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-08-26T09:26:22+00:00\" \/>\n<meta name=\"author\" content=\"IronFX Team\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/ms\\\/the-battle-against-inflation-is-far-from-over\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/ms\\\/the-battle-against-inflation-is-far-from-over\\\/\"},\"author\":{\"name\":\"IronFX Team\",\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/ms\\\/#\\\/schema\\\/person\\\/6727476356d10030d1564b38f6e699b1\"},\"headline\":\"The battle against inflation, is far from over\",\"datePublished\":\"2023-06-27T07:52:46+00:00\",\"dateModified\":\"2024-08-26T09:26:22+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/ms\\\/the-battle-against-inflation-is-far-from-over\\\/\"},\"wordCount\":783,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/ms\\\/#organization\"},\"articleSection\":[\"Uncategorized\"],\"inLanguage\":\"ms-MY\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/ms\\\/the-battle-against-inflation-is-far-from-over\\\/\",\"url\":\"https:\\\/\\\/www.ironfx-id.com\\\/ms\\\/the-battle-against-inflation-is-far-from-over\\\/\",\"name\":\"The battle against inflation, is far from over.\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/ms\\\/#website\"},\"datePublished\":\"2023-06-27T07:52:46+00:00\",\"dateModified\":\"2024-08-26T09:26:22+00:00\",\"description\":\"During yesterday\u2019s American session, New York Fed President Williams, stated yesterday that \u201cRestoring price stability....\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/ms\\\/the-battle-against-inflation-is-far-from-over\\\/#breadcrumb\"},\"inLanguage\":\"ms-MY\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.ironfx-id.com\\\/ms\\\/the-battle-against-inflation-is-far-from-over\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/ms\\\/the-battle-against-inflation-is-far-from-over\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.ironfx-id.com\\\/ms\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"The battle against inflation, is far from over\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/ms\\\/#website\",\"url\":\"https:\\\/\\\/www.ironfx-id.com\\\/ms\\\/\",\"name\":\"Complete Turnkey Introducing Brokers (IB) Solution at IronFX\",\"description\":\"&quot;Our Introducing Brokers program offers competitive conditions tailored to our partners&#039; needs. 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