5 important events this week will bring us!

5 important events this week will bring us!

  1. Canadian CPI (Wed, 15:30 MT (12:30 GMT) time) – According to forecasts, the indicator will advance by 0.1%. Higher figures will be appreciated by the CAD bulls.
  2. FOMC Meeting minutes (Wed, 21:00 MT (19:00 GMT) time) – We will wait for the release, as look for more hints regarding the future rate decisions by the Fed. In case of more hawkish hints, the USD will be supported.
  3. New Zealand’s retail sales (Fri, 1:45 MT (22:45 GMT) time) – We anticipate the level of retail sales to increase by 0.1%. If the actual figures are higher, the NZD will rise.
  4. Canadian core retail sales (Fri, 15:30 MT (12:30 GMT) time) – The indicator is expected to decline by 0.1%. Higher figures will be positive for the CAD.
  5. Speech by the Fed Chair Powell (Fri, 17:00 MT (14:00 GMT) time) – If the Fed Chair sounds hawkish, the USD will go up.

Hot news:

  • The US plans to postpone restrictions that the Trump administration has imposed on China’s Huawei Technologies Co. It increased the risk-on sentiment in the markets.
  • Oil prices jumped on the news that Saudi Arabian oil field was attacked by the drone.  
  • On the Brexit front, the government preparations to the no-deal Brexit were leaked. As a result, Jeremy Corbyn plans to bring opposition parties together next week to discuss the prevention of a no-deal Brexit.

Similar

USD Holds the Line
USD Holds the Line

The US dollar index keeps rounding above the 103.60 historical support level. The buyers have already defended this level for three weeks, highlighting their interest in the greenback. Thus, buying USD looks less risky right now. 

US Dollar Prepares for the Pump
US Dollar Prepares for the Pump

On the H4 timeframe, the US dollar index has formed a bullish falling wedge. At the beginning of the trading session, the price is testing the upper border of this wedge. Thus, in case of a higher-than-expected Core PCE Price Index m/m, the US dollar will skyrocket against other currencies. 

Uptrend in Gold Starts Now
Uptrend in Gold Starts Now

Happy Wednesday, traders! We went through the Internet and found the best news for you, take a look!

Latest news

Market Crash Incoming?
Market Crash Incoming?

This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.

What Currency Will Overperform?
What Currency Will Overperform?

S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.

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