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 pledges to keep macro-policies firm in 2018
China is on the verge of maintaining macro-policy stability in 2018. The Asian country will also take steps to reduce economic risks. That’s what state radio informed on Wednesday citing Premier Li Keqiang.
The government is going to deepen supply-side reforms by simply eliminating obsolete industrial capacity, as state radio quoted Li.
The Chinese economy found itself on track to meet the government's annual surge objective in 2017, but still facing some uncertainties, as Li told.
In the domestic economy the deep-seated contradictions are still striking, while various risks as well as hidden pitfalls can’t be neglected, Li added.
The Chinese economy has demonstrated better-than-anticipated surge of about 6.9% through the first nine months of 2017 due to firm government infrastructure spending, a sturdy property market as well as suddenly strengthening exports.
The country’s economy managed to ascend 6.7% the previous year, which is the slowest outcome in 26 years.
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…