Forex Analysis & Reviews: 28.06.2023 - Fed to cut key rate this...

Live Chat

InstaForex Loprais Team - Official participant of the Dakar rally

This section features the most important information about trading with InstaForex. We provide both analysis from leading experts for experienced traders and articles on trading conditions for beginners. Our services will help increase your profit potential.

Become Trader

Account Opening

See also

Trading Conditions

Forex Analytics

Charts

This section is designed for those who are just starting their trading journey. InstaForex educational and analytical materials will meet your training needs. Our experts' recommendations will make your first steps to trading success simple and clear.

Start as Beginner

How to start trading

Useful information

Training and recordings

InstaForex innovative services are an essential element of productive investment. We strive to provide our clients with advanced technical capabilities and make their trading routine comfortable as we are recognized as the best broker in this regard.

Become Investor

PAMM System

ForexCopy System

Passive investments

OYS account

Partnership with InstaForex is beneficial and top-tier. Join our affiliate programs and enjoy bonuses, partner rewards, and the possibility to travel with the team of the world-renowned brand.

Become Partner

Main Page

Partner Area

Advantages for Affiliates

Registration

This section contains the most lucrative offers from InstaForex. Receive bonuses when topping up an account, compete with other traders, and get real prizes even when trading in a demo account.

All Promo Campaigns

Bonuses

Contests

Events

Holidays with InstaForex are not only pleasant but also useful. We offer a one-stop portal, numerous forums, and corporate blogs, where traders can exchange experiences and become successfully integrated into the Forex community.

Full details

Forums

We are in social networks

Forex humour

Forex Portal

InstaForex is an international brand created in 2007. The company provides services for online FX trading and is recognized as one of the world's leading brokers. We have won the trust of more than 7,000,000 retail traders, who have already appreciated our reliability and focus on innovations.

Learn More

History

Why Choose Us

InstaSport

Regulation

Company News

Awards

InstaForex Stars

InstaForex Offline

Headquarters

Key documents

Social Responsibility

InstaForex Loprais Team - Official participant of the Dakar rally

28.06.2023 01:43 PM

Fed to cut key rate this year, while ECB and BoE to do this in 2024

Today, the US stock market is restoring balance after yesterday's rally that stopped amid the news about chip production. According to HSBC Asset Management, from the fourth quarter of the year, the US economy will begin to decline. This will continue for about a year. The EU economy will also see a recession in 2024.

Analysts of the British central bank stated that fears about recession could become true in many countries as fiscal and monetary policies are not synchronized with stock and bond markets. Although the risk is really high, as Europe lags behind the US, the macroeconomic indicators have become a bit better. Nevertheless, the countries are in a moderate recession in terms of profit and the number of corporate defaults is also gradually increasing, analysts say. However, high inflation is decreasing relatively quickly. This will give policymakers a chance to quickly lower rates in the future.

Despite the hawkish stance of the central banks and resilient inflation, especially at the base level, HSBC Asset Management expects the Fed to lower interest rates by the end of 2023, and the European Central Bank and the Bank of England will follow it next year.

Premarket trading

Shares of electric truck manufacturer Lordstown Motors fell by more than 17% yesterday and dropped by another 10% in today's premarket trading. Lordstown Motors is suing Taiwanese manufacturer Foxconn over a $170 million financing deal.

Walgreens Boots Alliance shares fell by 9.3% at the end of the day after the retail pharmacy chain lowered its annual earnings outlook to $4-4.05 per share from a previous forecast of $4.45-$4.65 per share. Walgreens also reported adjusted earnings per share for the third fiscal quarter of $1, which failed to come in line with the forecast. During the premarket trading, the company's shares lost only about 0.5%.

Delta Air Lines shares rose by 6.8% after the airline left its annual profit outlook at $6 per share, which is the upper limit of the previously set range. Delta said it was supported by high demand. In the premarket session, the shares rose by only 0.5%.

As for the technical picture of the S&P500, demand for the index increased. Buyers have a chance to continue the upward trend, but bulls need to return $4,383 and $4,416 at all costs as this will allow a jump to $4,447. They should also take control over $4,488, which will strengthen the bullish sentiment. In case of a downward movement caused by a lower appetite for risk, buyers should become active in the area of $4,350. A breakout will quickly push the trading instrument back to $4,320 and open the way to $4,290.

You have already liked this post today

*Disclaimer: The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.