
Happy Friday, traders! Are you ready to trade at the end of the week? Here’s what you need to know before you start:
Today started with extreme volatility for the New Zealand dollar against the Japanese yen. On the H1 chart of the NZD/JPY, the price made a steep drop from the 69.38 mark to the support level of 68.97 within several hours from 0:00 to 06:00 MT time. Then it reversed straight back and passed all the bullish thresholds, aiming at the resistance level of 69.61. If the rise continues, the further resistance levels may be set at 69.90 and the range of 69.98 – 70.02. Otherwise, the range of 69.31 – 69.35 and the level of 68.97 will be supporting the price from the downside.
Happy Friday, traders! Are you ready to trade at the end of the week? Here’s what you need to know before you start:
The Reserve Bank of New Zealand will reveal the official cash rate, monetary policy statement, make a rate statement, and after that will answer questions in a press conference on February 23, 03:00 GMT+2.
The Federal Reserve (FOMC), US central bank, will publish its December meeting minutes on Wednesday, January 5, at 21:00 GMT+2 (MetaTrader time).
This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.
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.
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