2021-08-26 • Updated
After few days of lack of fundamentals, all eyes are headed towards the US GDP & Jobless Claims later today. The Q2 GDP is expected to post the highest reading since the Q3 of last year, while the Core PCE Price Index is expected to remain stable at 6.1%.
On the other hand, the Jobless Claims is expected to rise slightly from the lowest level since the beginning of Covid19 era to 350K.
However, traders are advised to be very careful, the impact of these numbers is unlikely to last. Most probably it will be a quick move right after the announcement and markets will likely stabilize and it might be a nonevent as all eyes will turn again to Jackson Hall symposium which remains the key for now.
One thing everyone is waiting for, will the Fed stick to its plan to taper QE before the end of the year? If yes, the entire move that we saw in equities since the beginning of this week will be reversed in a short period of time, while if the Federal Reserve decided to surprise the markets with a delay due to Delta variant fears, markets will be celebrating the continuation of the Fed's liquidity.
Crude oil futures surged on Monday due to disruptions in Russian refining capacity caused by Ukrainian drone strikes and Moscow's decision to cut output to comply with OPEC+ targets. The West Texas Intermediate (WTI) contract for May settled at $81.95 a barrel, up $1.32, while the Brent contract for May settled at $86.57 a barrel, also up $1.32. Russia instructed...
Bearish scenario: Sales below 80.00 with TP1: 79.60... Anticipated bullish scenario: Intraday purchases above 80.70 with TP: 81.50...
Bearish Scenario: Sales below 78.99 with TP1: 77.93, TP2: 77.45, and upon its breakout TP3: 76.56 and TP4: 75.70 Bullish Scenario: Purchases above 78.00 (wait for a pullback to this area) with TP1: 1679.00 (uncovered POC*), TP2: 79.33, and TP3: 79.66 intraday
Jerome H. Powell, the Federal Reserve chair, stated that the central bank can afford to be patient in deciding when to cut interest rates, citing easing inflation and stable economic growth. Powell emphasized the Fed's independence from political influences, particularly relevant as the election season nears. The Fed had raised interest rates to 5.3 ...
Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...
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Don’t waste your time – keep track of how NFP affects the US dollar and profit!
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