Important events today:

12:15 UTC – EU: ECB Meeting.

After the USDX basket index broke Tuesday’s high, investors began to close longs on the American currency, which caused a technical correction. USDJPY grew strongly in the first half of the week and also fell quickly on the fixation of longs on the American currency. Interesting news was the report on the US mortgage market, where the rate of 30-year loans reached 5.94%, which is a record high for 2008.

The situation in the U.S. real estate market in many ways begins to repeat the events of the 2000s, when cheap mortgages helped house prices grow strongly for several years, after which the bubble burst and the crisis began. Due to the cheap mortgage in 2020-2021 the cost of housing in the States also soared in price and now the bubble is inflating, with mortgages already twice as expensive, and this process will pick up speed, as the Fed plans to raise the discount rate by at least 1% in autumn.

Recommendations: Sell 143.90/144.25 with TP 143.35.