2022-12-15 • Updated
Last week was full of economic events, from the Canadian bank rate and OPEC meeting to US Non-farm employment change. The US Fed is speeding up its monetary tightening, and crypto may experience the most challenging times since the beginning of the market. Commodities are in danger, too. Dive deeper into the most important events of next week!
The ECB will meet on the main refinancing rate (interest rate) on Thursday, 14:45 GMT+3. The six members of the ECB Executive Board and 15 of the 19 governors of the Euro area central banks vote on where to set the rate. Despite the common knowledge that the rate will remain unchanged, ECB will hold a press conference after the monetary policy statement. We will look at plans to fight inflation in the EU. EURUSD will gain volatility and may break through the vital resistance area of 1.0760-1.0800. In case of a breakout, the next resistance for the pair will be at 1.1030.
EU leaders had agreed to ban 90% of Russian crude by the end of the year as part of the bloc’s sixth sanctions package on Russia since it invaded Ukraine. Later, Saudi Arabia reported it could step up if Russian output dips under sanctions. Oil didn’t have enough momentum to exit the three-month consolidation with borders at $90-120 per barrel. Still, the outlook for XBRUSD is bullish due to difficulties in switching from Russian imports.
Gold oscillates near the vital support area of $1790-1800. The slide below will mean the bull market for XAUUSD is postponed for several months, and the USD may strengthen simultaneously. However, the greenback prospects are gloomy amid inflation that doesn't slow down fast enough.
Take a closer look at the HK50 index. The Chinese economy is recovering from lockdowns and supply disruptions so we can expect some bullish movements in the nearest time. Step by step, the country takes control over microchip production as the settlements with Taiwan suppliers are now partly managed by China. Also, HK50 is close to the strong resistance trendline, which is the final threshold on the way to the uptrend.
Gold prices rose on Monday as the US Dollar weakened amidst speculation about potential Federal Reserve rate cuts starting in June. This weakened Dollar was partly due to improved risk sentiment pushing US Treasury yields lower. Despite facing challenges from declining yields, gold prices recovered to nearly $2,170 per troy ounce, driven by the Dollar's weakness. Federal Reserve Chair...
Gold prices bounced back on Wednesday, reaching $2,173.60 after briefly dipping to $2,150.00. Traders speculate that the US Federal Reserve (Fed) might reduce borrowing costs, but a recent report showing higher-than-expected inflation in the US could delay such actions. Despite signs of a cooling labor market, the US economy remains robust, with inflation
In the early hours of Tuesday, the US Dollar faces challenges in maintaining its strength against major currencies, with the US Dollar Index struggling to surpass the 104.00 mark. Investors are eagerly anticipating the release of key economic data, including January Durable Goods Orders and the Conference Board's Consumer Confidence Index for February. Additionally, the economic calendar includes reports...
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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