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With a long-term trendline broken and bears clearly bac in control, the inflection point for the year has likely been seen.

The pound’s initial reaction was lower in response to the Bank of England’s latest policy decision.

Oil rallied over 3% in early trade on Thursday, hitting a fresh three week high of $55.86, as markets react to rising tensions in the Middle East and the Fed standing ready to offer more stimulus to the US economy.

Watch the 0.8910 key short-term resistance on EUR/GBP.

The Fed’s decision to keep interest rates unchanged and comments suggesting that rates cuts are not as imminent as the market has expected have helped the FTSE and European markets into a much stronger position Thursday.

During a busy session for Asia and no less than three dovish central banks, gold exploded to a 5-year high and stopped just shy of $1400. With an increasingly bullish trend structure on the monthly charts, we remain bullish after prices have had a chance to pause for breath.

A summary of news and snapshot of moves from today’s Asia session.

Recent USD strength pull-back has reached inflection zone except in USD/JPY.

The Fed all but confirmed the U-turn that many were expecting. Whilst rates remained on hold, almost half of voting members now see two rate cuts this year.

A summary of news and snapshot of moves ahead of the US session.

As central bank bonanza week continues and once the Fed rate announcement is in the rear-view mirror, attention will shift towards the BoE’s rate decision tomorrow.

We have covered the US dollar and the FOMC’s upcoming rate decision extensively so far this week, so I thought why not share some thoughts on a non-dollar currency pair today. While there are a few candidates that I could have looked at, the GBP/JPY is the one that has stood out to me – not only from a technical point of view but for sound fundament...

A summary of news and snapshot of moves from today’s Asia session.