Gary Thomson of FXOpen UK Shares Insights on Global Markets

Gary Thomson, FXOpen UK's COO, shared his analysis of market indices and currency pairs, including the UK100 and Hang Seng indices, and GBP/USD and USD/CAD pairs. He discussed the US Dollar's steady performance and the potential impact of upcoming Consumer Price Index data on the market.

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Nitish Verma
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Gary Thomson of FXOpen UK Shares Insights on Global Markets

Gary Thomson of FXOpen UK Shares Insights on Global Markets

Gary Thomson, Chief Operating Officer (COO) of FXOpen UK, shared his expert insights on various market indices and currency pairs in his weekly market wrap video. Thomson discussed the recent performance and potential future movements of the UK100 index and provided his analysis of the current trends and outlook for the Hang Seng Index.

In his video, Thomson also shared his forecast for the future direction of the exchange, rates currency pair. He provided expert analysis on the recent movements and potential future trends of the GBP/USD and USD/CAD pairs as well.

Why this matters: The insights shared by Gary Thomson can have a significant impact on investment decisions and market trends, as they provide valuable information for traders and investors navigating the complex global financial markets. Moreover, the analysis of key market indices and currency pairs can influence the overall economy and affect individuals' financial well-being.

According to Thomson, the US Dollar held steady at the 105 level following the previous week's sell-off driven by the Federal Open Market Committee (FOMC) meeting and the release of Non-Farm Payroll (NFP) data. Market focus now shifts to the upcoming release of the Consumer Price Index (CPI) data from the United States, scheduled for Wednesday.

Thomson noted the strong performance of equity markets this week, attributing it to the dovish tone from the Federal Reserve and the NFP figures coming in below expectations. The US Dollar showed a moderate gain, likely supported by the 105.00 level. "If we do get slower data out of the US, the themes of equity strength and USD weakness could gain more motivation," Thomson stated.

However, Thomson cautioned that a hotter-than-expected CPI report, above 3.8%, could lead to a repricing that drives strength in the US Dollar and a pullback in equities. "But if that CPI report comes out hot again at 3.8 or higher, then there could be some quick re-pricing that could drive strength in the Greenback and a pullback in equities," he warned.

Thomson's weekly market wrap video provides valuable insights for traders and investors navigating the complex global financial markets. His expert analysis covers a range of key market indices and currency pairs, offering a comprehensive overview of recent trends and potential future movements.