ONLINE FOREX BROKER
2021-01-28 • Updated
Fed has held the first meeting this year. The bank takes a wait and see approach and leaves both rates and QE pace unchanged while the debt is mounting. Analysts believe that no changes from Fed may be understood as an indirect light-tapering scenario. Higher real rates could be unveiled already in the next quarters. These expectations underpinned the USD.
Elsewhere, Fed’s Powell said that the US economy was still far away from full recovery during his press conference. As a result, the market sentiment worsened and drove safe-havens assets such as the USD upward.
As for the CAD side, the reduced demand for crude oil pressed down the commodity-sensitive Canadian dollar. The constantly rising virus cases added to the overall risk-averse mood as well. All eyes on US GDP and jobless claims at 15:30 MT time. Follow up!
USD/CAD has just broken through the resistance of 1.2830, clearing the way up to the psychological level of 1.2900. However, the rally up should stop near this level as indicators signal a soon falling. The RSI indicator moved above the 70.00 mark, entering the overbought zone. In addition, the price has broken through the upper line of Bollinger Bands, indicating the soon pullback to the downside. Support levels are at the low of December 4 at 1.2775 and the psychological mark of 1.2700.
The S&P 500 had a good week due to the impressive start of Q1 earnings and favorable inflation data. In March, the consumer price index rose 5%, lower than the previous month's 6%, and met economists' expectations.
The previous year 2022, was undoubtedly tumultuous for the stock markets, with several stocks plummeting across multiple industries. Analysts have blamed the hard times on inflation, hawkish federal reserve policies, an impending global recession, and the ongoing crisis in Ukraine. This year, however, we're beginning to see some recovery in the stock markets. This article will find a few stocks worth buying this year.
In a call scheduled for January 25, 00:30 am GMT+2, Microsoft will publish the company's earnings for the final quarter of 2022 and comment on the results, projections, and outlook for the nearest future of the company.
Let's dive into the world of gold. Currently, the price of gold, represented by XAUUSD, is stuck in indecision, hovering around the $1,975 mark. The market is anxiously awaiting two important factors: the release of the Federal Reserve's meeting minutes and the extension of the US debt ceiling.
Hey guys, this is the last full trading week in May, and many forward-looking individuals like myself are already preparing themselves to seize whatever opportunities June may have in store. On this note, I will review a few commodities that have satisfied my quest for swing-trading opportunities in the coming month. Follow me!
The Bank of England (BoE) has dramatically shifted its economic forecasts. They no longer expect a recession in the UK and have upgraded their growth projections. This year, the BoE predicts GDP growth of +0.25%, a significant improvement from previous expectations. Next year's forecast is even more optimistic, with a projected growth of 0.75%.
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