About 24% of global central banks intend to increase gold reserves in 2023. Rising inflation, geopolitical turmoil, and worries about interest rates are reasons to increase gold reserves.
Daily News: Monday, January 22
The weekend has gone! It is time to come back to Forex and start to trade. Our news will help you to make your trading plans for this week.
- Angela Merkel is moving forward in forming a fourth-term government. A negotiation on a strategy between allies will start on Monday and will continue with real talks on Tuesday. What about the euro, this news caused the rise in early Asian trading, but later it fell back to its price at $1.2226.
- The US government is in stagnation. It had to vote for a stopgap funding bill on Friday, but the decision is still in process. We are waiting for news today at 19 MT time.
- Another important issue for the US. San Francisco Federal Reserve President John Williams claims that the US economy has a good momentum that will lead to the fast growth of interest rates: low inflation, tax cuts, strong economy are on the US side.
- Steady prospects from China. A spokesman for China’s state planner claimed that the Chinese economy is supposed to be steady and it has a good chance this year. So let’s see.
- Some words about country ratings. Fitch rating improved the assessment of Greece and Spain. Spain showed the growing economy with improving fiscal situation, long-term debt rating has a stable outlook, however, the political standoff will affect the growth. Greece got a positive outlook on a Greek a government debt index. It has gradually recovering economic prospects.
- Cooperation is continuing. Russia and OPEC reaffirmed their readiness to cut the production of oil until the end of 2018 to re-balance the oil market. No news about the 2019 yet. Brent – $68.81 (+0.32%), WTI – $63.53 (+0.38%).
Greetings to a brand new week full of events, economic releases and US debt frictions. We are here to tell you everything you need to know!
The US dollar index breaks one resistance after another. Read the report to learn the next target for the US dollar index!
Saudi Arabia agreed to cut oil production. What will happen with the oil price now?
The situation on the labor market still looks optimistic. Today we expect the Unemployment rate data. 3.5% is expected.
The first day of June should’ve brought us the US default. Unsurprisingly, the US House passes the debt ceiling bill at the latest possible moment.