ONLINE FOREX BROKER
Today we are awaiting the monetary policy report by the Bank of England at 14:00 MT time. While traders are assessing the chances of a surprise rate cut by the regulator as the last chance for the BOE governor Mark Carney to influence monetary policy. You can read more about it in today’s analysis.
While no major changes to the monetary policy were announced during the yesterday’s release of the FOMC statement, the Federal Reserve Chair Jerome Powell hinted about one important upcoming update on inflation. As we suggested in the article, the Fed will take additional measures to boost the inflation above the 2% target. Thus, we may expect the Fed turning more dovish in the nearest future.
The biggest social media company reported the slowest quarterly sales growth during yesterday’s earnings release. Despite upbeat EPS (2.56 vs. 2.53) and a quarterly record of $21.08 billion in revenue, the profitability growth rate made investors worry about the future performance of a company. Thus, the performance of a company’s stock was quite mixed, however, the price managed to close above the resistance at 222.45.
Apple closed more stores in China due to coronavirus spreading. The news may have a negative effect on the price of Apple stock, despite a positive company’s results reported on Wednesday. As a result, the stock price formed a doji candlestick on the daily chart.
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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!
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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