How Markets Move Without News

How Markets Move Without News

Did you notice that trading without major economic releases can also be pretty profitable? Well, if you don’t, we will show you. Welcome to Wednesday!

  • Chinese CPI decreased slower than expected (-0.3% vs. -0.4%). Simultaneously, PPI is below expectations by 0.4%. USDCNH fell 300 points.
  • New Zealand Inflation Expectations rose to 2.83%, up from 2.79%in the previous quarter. This data shows that the RBNZ still has a lot to deal with. However, modest expectations are a relief for the economy. NZDUSD is up 100 points and may continue rising today.
  • Starting this week, Russia restarts gold and currency purchases with $19 million per day. Some analysts consider this a bullish factor for the metal.
  • Bitcoin suddenly started rising and broke through $30K. BTCUSD is now slightly below this level.
  • PayPal is trying to convince its 435 million user base to switch to stablecoins.
  • Platinum and Palladium lost 10% over three weeks. Investors expect the metals to continue falling.

EURUSD analysis for the day ahead

The EUR is moving in a range, with the lower border at 1.09430 and the upper one at 1.10470. After the price fails to move lower, we expect the pair to collect liquidity above the high. Therefore, long trades may be a wise decision here.

The scenario will become invalid if EURUSD slides below the recent lows.

EURUSD.pH1.png

 TRY TRADING NOW

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