• A bit of a breather so far today
• It’s been an exceptional week for the euro and pound against the dollar
• USD/CHF has got that old saying in markets written on it
• AUD/USD upside push stalls at the June highs, at least for now

Headlines:

• US announces to automatically forgive $39 billion in student debt
• China invites global investors for rare symposium next week – report
• BOJ announces to host first discussion on long-term policy review in December
• Eurozone May trade balance -€0.3 billion vs -€11.7 billion prior
• Germany June wholesale price index -0.2% vs -1.1% m/m prior
• Switzerland June producer and import prices 0.0% vs -0.3% m/m prior

Markets:

• EUR leads, JPY lags on the day
• European equities mixed; S&P 500 futures up 0.1%
• US 10-year yields up 0.7 bps to 3.765%
• Gold down 0.1% to $1,958.60
• WTI crude flat at $76.89

It was a quieter session in Europe today as markets are taking a bit of a breather after all the hot and heavy action in the past two days.

The dollar slide is being arrested somewhat, at least for now, as we wait on Wall Street to step into the fray before the weekend comes along. EUR/USD was little changed throughout the session, keeping around 1.1220-30 levels mostly. GBP/USD is down 0.1% to 1.3120 while USD/CHF is flat at 0.8585 currently.

The Japanese yen was a decent mover on the day, with USD/JPY falling to a low of 137.25 in Asia before recovering some poise tohold around 138.40 on the day.

The overall risk mood is also calmer today, after the surging gains in tech stocks this week. That is keeping the aussie and kiwi in check as well with AUD/USD down 0.3% to 0.6870 and NZD/USD down 0.1% to 0.6385 at the moment.

Well, the technicals continue to look bleak for the dollar and given the recent momentum, it might just be a matter of time before we see a resumption of the dollar selling and risk buying.

This article was written by Justin Low at www.forexlive.com.

The US CPI missed
across the board this week causing big moves as the market expected the Fed to
end its tightening cycle really soon. The probabilities of a July rate hike
though remained unchanged due to the tight labour market and the lack of hints
for a skip or a pause from the Fed members after the CPI release. Nevertheless,
the market is now looking forward to when the data will start to point to rate
cuts and Gold should be supported as a result.

Gold Technical Analysis –
Daily Timeframe

On the daily chart, we can see that the 61.8% Fibonacci retracement level
managed to stop the fall in Gold eventually. The price has broken to the upside
the downward trendline and then
the key 1934 resistance after
the CPI report and it’s now looking at the 1984 resistance. The moving averages have
crossed to the upside again indicating a change in trend.

Gold Technical Analysis – 4
hour Timeframe

On the 4 hour chart, we can see that the price is
consolidating a bit after the big run to the upside after the miss in the US
CPI report. The bias now is bullish as the moving averages are crossed to the
upside and there’s no real technical resistance until the 1984 level.

Gold Technical Analysis – 1
hour Timeframe

On the 1 hour chart, we can see that we
have a good support zone at the trendline where there’s also the 38.2%
Fibonacci retracement level for confluence. The
buyers should step in here with a defined risk below the trendline and target
the 1984 resistance. The sellers, on the other hand, will want to see the price
breaking lower to pile in and extend the fall into the 1934 support.

Upcoming Events

Today we have the
University of Michigan Consumer Sentiment report, but it’s unlikely to cause
big moves in the markets unless we see some notable deviation from the expected
numbers. The market though is likely to focus more on the inflation
expectations figures and a lower-than-expected reading there, especially on the
long-term expectations, should give Gold some more support.

This article was written by FL Contributors at www.forexlive.com.

Well, just around two weeks after the Supreme Court shot down the student loan forgiveness prorgramme here, we are seeing a somewhat similar relief measure being announced by the Biden administration. It would automatically forgive $39 billion in student debt for roughly 804,000 borrowers.

However, this debt relief continues to be part of a fix to the education loan system’s repayment plans. And under those terms, borrowers will get any remaining debt cancelled by the government after they have made payments for 20 or 25 years – depending on their borrowing amount, loan type etc.

This article was written by Justin Low at www.forexlive.com.

Chancer, a revolutionary blockchain-based
predictive markets app that’s taking the crypto and betting world by storm, has
raised a whopping $750,000 in just 4 short weeks during its exciting presale.
Stage 1 is now set to imminently sell out, with under 23% of tokens left before
the price increases by 10%.

The rise is driven by the unique premise of the platform,
which offers completely decentralized betting, allowing users to ‘become the
house’ and create their own odds. As well as the presence of the two founders,
Adam and Paul Kelbie, who are fast becoming favorites in the blockchain
community.

Adam Kelbie, CEO of Chancer, said “I am delighted with the
engagement we’re seeing in the ever-growing Chancer community, as well as the
raise – but not completely surprised to be honest! This idea has been years in
the making, and this is the year we deliver something huge. We’re not only
seeing increased investor interest by the day, but a number of potential
partner collaborations.”

Users interested in purchasing Chancer tokens can do so
through the official website (https://chancer.com).

Chancer: Driving the decentralized betting revolution

Chancer is the world’s first decentralized and fully
democratized blockchain betting platform.

It puts the power firmly back into the hands of bettors,
who are usually victims of unfavorable odds set by a house or bookmaker. These
odds are stacked against bettors from the get-go. Additionally, these bookies
often allow people to only bet on sports or mainstream events.

That’s where Chancer is different. As a decentralized
platform, users place bets among themselves, allowing for a fully peer-to-peer
betting experience. Users can wager small bets among friends or participate in
viral bets regarding global events such as the World Cup Final, the Oscars, or
even the US presidential elections. Powered by Google’s WebRTC, users can take
up these bets and communicate with others in real-time whilst live streaming
events as they unfold.

All bets are made and paid out in CHANCER tokens, which
gives the coin real utility as it is the lifeblood of the entire platform. As
more and more users flock to Chancer, the greater the opportunity to disrupt
the betting industry, which was worth more than $63 billion in 2022 and is set
to skyrocket to over $150 billion by 2030, CHANCER’s price could also benefit
from increased adoption and a spreading global reach.

Chancer is also CertiK audited, which only goes to
reinforce the faith in the project, given that the team has been fully KYC’d
and given the stamp of authenticity many will expect from a development roadmap
with such substantial scope.

Unveiling the Remarkable Success of Chancer’s Raise

With real use cases and a platform that works in favor of
those using it, it’s easy to see why Chancer has managed to raise $750,000 in
such a short period of time. Chancer has an extensive roadmap, detailing its
plans from its presale right until it plans on becoming a DAO. Given this
exciting trajectory and initial low price, it’s no wonder people are investing
now to get in on the ground floor with Chancer.

Not only that, but as of the 12th of July the developers
added USDT and ETH purchase options, opening up the presale to millions more
potential investors.

Additionally, there are several perks for CHANCER token
holders. Users can stake their tokens and potentially earn passive income in
the form of tokens, and even receive discounted fees on bets. All of this, as
well as the fact that users can set their own odds, makes it an innovative
concept for betting and crypto enthusiasts.

To further whet appetites and draw in an even bigger crowd,
Chancer is currently holding a massive $100,000 giveaway in tokens. Ten lucky
winners will be in with a chance to win a chunk of this money, which is
Chancer’s way of giving back to the community. It doesn’t matter how many coins
a user has — so long as he has some CHANCER in his wallet, he’s in it to win
it.

Upcoming Developments and Expectations for Chancer

Chancer is still in its presale, presenting a potentially
interesting prospect to those exploring new projects in 2023.

Chancer’s current fundraising objective stands at $15
million. Considering the swift achievement of the initial $750,000, the company
anticipates a smooth journey toward reaching its target. Following this,
Chancer will launch on several exchanges, which will be announced during the
course of the presale.

Chancer presents a radical, completely unprecedented
betting platform that empowers bettors and lets people decide on their own
odds. With this in mind, Chancer has a real opportunity to overthrow some of
the traditional and archaic betting houses in the market. Don’t miss out on
this token opportunity, still currently at the low entry price of $0.01.

About Chancer

Chancer is set to develop the world’s first decentralized
social predictive markets platform. This will allow Chancer token holders to
create, and participate in their very own predictive markets based on their
interests, expertise and social opportunities.

The project intends to disrupt the global gambling and
betting market by ‘removing the house’ and taking a slice of the market share
as it garners attention by challenging the traditional bookmaking and betting
business model.

This article was written by FL Contributors at www.forexlive.com.