
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.
Up to now, the index has been moving to the resistance at 95.70. No important economic data will be released today. So if the NAFTA worries ease, the index will go down. The support is at 95. Otherwise, it will be able to break above the resistance.
Brent rose to $79.72, however, closed at $77.88. Up to now, Brent has been moving down. The price is near $77.65. The support is at $77. The next one is at $75.25. In case of some positive news for the oil market, the price will turn around. The resistance is at $78.50.
WTI jumped to $71.39 but closed at $69.40. Up to now, the price has been trading near $69.10. The support is at $68.20. If there is positive news, the price will recover. The resistance is at $70.50.
Some comments from Saudi Arabia. The country wants Brent between $70-80 a barrel and at the same time doesn’t want to offend Washington.
That’s all for today! Follow market news with FBS!
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.
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.
Happy Wednesday, traders! We went through the Internet and found the best news for you, take a look!
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…
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