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.
China December factory surge slows moderately notwithstanding smog war
In December, surge in China's sprawling manufacturing sector slowed a bit notwithstanding strict pollution measures, which have made some factories curb output, and also a cooling housing market, as a Reuters survey disclosed.
On Sunday, the official manufacturing Purchasing Managers' Index is believed to sag marginally to 51.6 for December from November’s suddenly firm outcome of 51.8, as a median estimate of 30 experts surveyed by Reuters revealed.
While the reading is considered to be soft enough, it would still suggest that the 18th straight month of expansion for the Asian country’s manufacturers, reporting their strongest revenues in years due to a building boom as well as resurgent export demand. As a matter of fact, the 50-mark divides contraction from expansion on a monthly basis.
The private Caixin PMI is going to be unveiled on January 2, while the Caixin services PMI will be published on January 4.
Happy Monday, dear traders! Hope you had a great weekend and you’re ready for the last trading week in 2022! Later this week we’ll announce some exciting news for you, but now let’s look through some interesting news! Today’s events: USA, UK, Hong…
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.
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.
The United States Bureau of Labor Statistics will publish the US Consumer Price Index (CPI) m/m on January 12 at 15:30 GMT+2. The index measures a change in the price of goods and services purchased by consumers.
2022 was rough: inflation, energy crisis, and plenty of other controversial situations…