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.
ECB hints at probable delay of tougher rules on bad loans
The European Central Bank is all geared up towards postponing the introduction of tougher rules on bad bank loans after heavy criticism from the European Parliament and Italy, as the ECB's top supervisor informed on Thursday.
Daniele Nouy backed the proposed new guidelines, forcing financial institutions to set aside more funds for loans, which sour, although stressed the ECB could potentially push back their introduction from January 1 if it could assess all the feedback it obtained.
The guidelines, which are under consultation until December 8, have managed to draw fire from Parliament, lifting the risk of an unprecedented feud between the institutions.
The euro zone authorities told they could force financial institutions to tame lending or even lift capital on the market. The given task has been neglected by some Italian banks in recent months, thus causing state interventions.
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…