
The Reserve Bank of Australia (RBA) will make a statement and release a Cash Rate on February 7, 05:30 GMT+2. It's among the primary tools the RBA uses to communicate with investors about monetary policy.
Happy Friday, dear traders! Friday is always a little holiday, so we hope you’re ready to trade as much as possible before the weekend! Let’s see what news can be interesting for today:
17:00 GMT+2 - Prelim UoM Consumer Sentiment
Gold prices topped $1,750 for the first time since August 30. It happened due to a CPI data release, which showed the US inflation rate was less than expected last month, 7.7% from 7.9% y/y. Gold, which reversely correlates with the US dollar, immediately after release gained almost 3%.
RSI overbought conditions are joining the upper line of the weekly bullish channel. Besides, the 50-HMA level acts as direct support. It’s worth noting that sustained trading above $1,765 will not hesitate to challenge the five-month horizontal resistance area around $1,805. Gold remains on the bulls' radar, but the upside seems limited.
Have a great day!
The Reserve Bank of Australia (RBA) will make a statement and release a Cash Rate on February 7, 05:30 GMT+2. It's among the primary tools the RBA uses to communicate with investors about monetary policy.
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.
Credit Suisse's collapse is in focus. What are the consequences of this problem? Let's discuss it here.
Consumer Price Index, Existing Home Sales, US Fed rate decision - all of these things we will discuss in our new review. Don't miss it out!
The RBA and the Bank of Canada will add volatility to the AUD and the CAD, while USD is expected to be boosted by the Non-farm payrolls.
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