5 important events this week will bring us!

5 important events this week will bring us!

  1. Speech by the ECB President Mario Draghi (Mon, 16:00 MT (13:00 GMT) time) – If the ECB president is hawkish, the EUR will be supported;
  2. CB consumer confidence for the US (Tue, 17:00 MT (14:00 GMT) time) – Higher-than-expected figures will push the USD up;
  3. RBNZ rate statement (Wed, 5:00 MT (2:00 GMT) time) – Analysts anticipate the Reserve bank of New Zealand to keep its interest rate unchanged at 1%. Traders will pay attention to the outline of the statement. If the RBNZ is hawkish, the NZD will rise.
  4. US final GDP (Thu, 15:30 MT (12:30 GMT) time) – If the actual figures are higher than the forecasts, the USD will go up.
  5. US core durable goods orders and personal spending (Fri, 15:30 MT (12:30 GMT) time) – Higher-than-expected figures will boost the USD

Hot news

  • After the trade talks between the US and China last week, we heard some positive comments on that matter from both sides.
  • Oil prices jumped on the news that the reparation of the Saudi plant would likely take months.
  • The EU’s Donald Tusk will meet the UK Prime Minister Boris Johnson this week. However, judging by the tone of the Prime Minister, he does not expect any breakthrough this week. Also this week the Supreme Court will rule on Boris Johnson’s suspension of Parliament. The uncertainties affect the GBP.


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. 

Latest news

Increased Volatility is Coming
Increased Volatility is Coming

The Reserve Bank of Australia (RBA) will make a statement and release a Cash Rate on February 7, 05:30 GMT+2. It's among the primary tools the RBA uses to communicate with investors about monetary policy.

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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