EURUSD Analysis
EURUSD is moving in the Descending channel and the market has reached the lower low area of the channel.
The EU and China have become more dynamic players in Central Asia since the United States withdrew from Afghanistan and Russia started losing its geopolitical reputation following its invasion of Ukraine. While Russia’s regional influence is gradually being replaced by China’s presence, the EU should adjust its strategy. Otherwise, the EU’s plans for closer connectivity with Central Asia will exist only on paper. EU delegates, who have been making more frequent visits to Central Asia, often criticize China’s active engagement in the region.
GOLD Analysis
XAUUSD Gold Price is moving in the Descending channel and the market has fallen from the lower high area of the channel.
In 2015, more than a million refugees and migrants, mostly Syrians and Afghans, entered European countries prompting the European Union to strike a deal with Ankara to stop people from irregularly traveling from Turkey to European countries in return for aid and visa-free entry to Europe for Turkish citizens. Despite the costs, the number of migrants arriving in Europe has nearly doubled over the past two years from 620,000 in 2021 to almost a million in 2022.
USDCHF Analysis
USDCHF is moving in an Ascending channel and the market has reached the higher high area of the channel.
Switzerland has launched proceedings to confiscate more than 130 million Swiss francs linked to the entourage of former Ukrainian President Viktor, who was deposed in 2014. The Swiss government has initiated proceedings with the Federal Administrative Court to seize money presumed to be of illicit origin. The people involved were linked to Yanukovich, who fled to Russia after being ousted by mass protests in 2014. Switzerland last year began looking into confiscating 100 million Swiss francs after Russia’s invasion of Ukraine.
EURCAD Analysis
EURCAD is moving in an Ascending channel and the market has reached the higher low area of the channel.
The European Union received 966,000 asylum requests over the course of last year, a rise of more than 50% compared to 2021. Syrians, Afghans, Turks, Venezuelans and Colombians made up the largest groups of applicants seeking international protection across the bloc, Norway and Switzerland. Under international law, asylum should be granted to people fleeing persecution or serious harm in their country of origin. In 2022, EU countries issued 147,000 decisions granting refugee status and 106,000 decisions granting subsidiary protection.
EURCHF Analysis
EURCHF is moving in the Symmetrical triangle pattern and the market has fallen from the Top area of the pattern.
A recent study has found that all countries within the European Union would have suffered serious economic consequences had the EU disintegrated a decade ago during the debt crisis, with Belgium suffering considerably more than the majority of its neighbors. The study also noted that the UK’s current economic woes would be significantly more dire had the EU broken up two years before the Brexit referendum. In particular, it found that the country’s GDP per capita would be 3.12% lower than it is now.
GBPUSD Analysis
GBPUSD is moving in an Ascending channel and the market has reached the higher low area of the channel.
The U.K. has thus far avoided a widely anticipated recession, and the signs from the business world are that the economy may be holding up better than feared. The Bank of England projects that the British economy has entered a shallow recession in the first quarter of 2023 that will last for five quarters, however, as energy prices remain high, and rising market interest rates restrict spending. Real business investment in the fourth quarter of 2022 was only fractionally higher than before the Brexit vote.
GBPJPY Analysis
GBPJPY is moving in an Ascending channel and the market has reached the higher low area of the channel.
In the winter months the UK imports around 95% of its tomatoes and 90% of its lettuces, most of them from Spain and north Africa, according to trade group the British Retail Consortium (BRC). But southern Spain has been suffering unusually cold weather and in Morocco crop yields have been affected by floods, while storms have led to ferries being delayed or cancelled. The shortages are only expected to last a few weeks until the UK growing season begins and supermarkets find alternative sources of supply.
GBPNZD Analysis
GBPNZD is moving in an Ascending channel and the market has reached the higher low area of the channel.
The UK has become one of the world’s most accepting places for foreign workers, according to a survey in 24 nations revealing a sharp increase in British acceptance of economic migration. People in the UK emerged as less likely to think that when jobs are scarce employers should give priority to people of their own country than those in Norway, Canada, France, Spain, the US, Australia and Japan. Only Germany and Sweden were more open on that question.
AUDNZD Analysis
AUDNZD is moving in an Ascending channel and the market has reached the higher low area of the channel.
Two back-to-back strong winter storms are expected to bring heavy snow, rain and powerful winds to several parts of the US this week, meteorologists say. The severe weather advisories are partly due to record-high, early spring temperatures in the north-east of the country. Parts of northern Arizona, New Mexico and southern Colorado are already under a winter storm warning. It will also bring possible thunderstorms in warmer regions, particularly around the southern Plains and lower Mississippi valley.
Crude Oil Analysis
Crude Oil is moving in the Descending channel and the market has reached the horizontal support area of the minor Box Pattern.
The death toll from a collapse at a coal mine in northern China rose to four on Thursday, as the search for dozens still missing resumed after a massive landslide hindered progress overnight. Hundreds of rescue workers were dispatched to the remote site, but another landslide later that day temporarily halted efforts to save those trapped beneath the rubble. The injured were all currently in stable condition.
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