The release of British and Canadian inflation data showed inflation increasing, but there was little to no overshoot of expectations.
In the Forex market, the Japanese Yen is the weakest currency while the Australian Dollar is the strongest, but this is a short-term movement that may well not persist. The US Dollar seems to have made some kind of peak from which it is retreating.Bitcoin/USD has survived a test from above of the strong key support level at $28,607 which continues to hold. This suggests we may now see upwards price movement.Yesterday’s release of Australian Unemployment data showed an unemployment rate of 3.9% which had been expected.Daily new coronavirus cases globally fell last week for the eighth consecutive week.It is estimated that 65.7% of the world’s population has received at least one dose of a coronavirus vaccination, while approximately 6.6% of the global population is confirmed to have contracted the virus at some time, although the true number is highly likely to be much larger.Total confirmed new coronavirus cases worldwide stand at over 525 million with an average case fatality rate of 1.20%.The rate of new coronavirus infections appears to now be significantly increasing only in Australia, Portugal, South Africa, and Taiwan.
Free Trading Education
Want to get a deeper understanding of how technical analysis and signals work? Watch videos, read articles, and learn all about the world of Forex at FXAcademy.com.