
Last week was full of surprises! The US dollar plunged despite a better-than-expected retail sales report…
Optimistic vaccine news improved market sentiment. Stocks and riskier assets are rising, while the US dollar is dipping down. Let’s have a closer look.
The euro is trading sideways. If it rises above the resistance of 1.1860, which it has touched several times already, it may jump to the key psychological mark of 1.1900. In the opposite scenario, the move below the significant support of 1.1800 will drive to the low of September 9 at 1.1760.
The stock index is edging higher amid the upbeat market sentiment. If it jumps above the high of September 10 at 3 410, the way towards the next high at 3 435 will be open. On the flip side, the move below the Friday’s low of 3 330 will push the S&P 500 to the next support of 3 315.
XAU/USD is just under the key resistance of $1 950. If it manages to cross it, it will surge to the next resistance of $1 975, which it has failed to break a few times already. Support levels are $1 925 and $1 910.
Finally, let’s talk about USD/JPY. The move below the key psychological mark of 106.00 will drive the price to the low of September 9 at 105.90 and then to 105.70. Otherwise, if it jumps above the resistance of 106.25, the doors to 106.50 will be open.
Last week was full of surprises! The US dollar plunged despite a better-than-expected retail sales report…
Last week was very interesting for the markets, as we saw the releases of the US Inflation and Disney’s earnings report. So let's see what we should await this week!
The volatility that the markets experienced last week promises the second tidal wave! What should your favorite assets anticipate during the first week of February?
The Australian Bureau of Statistics will announce the updated Unemployment Rate and Employment Change data on Thursday, May 19, at 04:30 MT.
The UK Office for National Statistics will publish Consumer Price Index (CPI) data on Wednesday, May 18, at 09:00 MT.
The US Census Bureau will announce Core Retail Sales and Retail Sales on Tuesday, May 17 at 15:30 MT.
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