The US dollar gained momentum following data release of a sharp increase in US retail sales. The surge in sales is a positive indicator of the US economy and suggests the Federal Reserve will continue its aggressive interest rate hike strategy implemented last March.

The EURGBP currency pair presents an excellent buying opportunity for traders, with a bullish momentum since the last few days. The price is expected to continue the upward trend until it reaches an area of 0.9090. The recent rally broke the downtrend line resistance, and traders should focus on the support around 0.885 and target 0.894 as the next level.

Retail data once again turned out to be bright. But the gold price did not fall further, slightly resistant after the oversold performance in the short term, and there may be a small rebound in demand. Focus on the initial jobless claims and PPI data tonight.

Supply disturbances continue, which is difficult to resolve shortly. Also, the USD can only be a temporary suppression of copper prices, and it is better to go long at lows in the middle and long term.

Bank of England forced to raise rates even as economy struggles after post-pandemic recovery stalls amid cost of living crisis became. The UK economy contracted by 0.4% in both the first and second quarters and 0.1% in the following quarter, above the technical definition of a recession, according to the survey.

The recent breakout in JPY pairs is a sign of the shifting economic landscape in the wake of the pandemic. With continued growth and recovery, we can expect to see further fluctuations in the forex market and potential opportunities for savvy traders to profit.