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.
In September German ZEW economic sentiment rises more than expected
In September, German economic sentiment went up much more than expected spurring optimism as for the cornerstone of the euro zone economy, as industry data disclosed on Tuesday.
The ZEW Centre for Economic Research informed that its index of German economic sentiment went up to 17.0 in September from August’s outcome of 10.0. Financial experts had expected the index to tack on to 12.5 in September.
By the way, on the index, an outcome above 0.0 stands for optimism, while a level below 0.0 drops a hint at pessimism.
This month the Current Conditions Index suddenly leapt to 87.9 from 86.7 in August versus expectations for a moderate dip to 86.6.
In September, the index of euro zone economic sentiment inched up to 31.7 from 29.3 last month.
After the report, the currency pair EUR/USD showed 1.1985 versus the previous outcome of 1.1981 ahead of the publication of the data. As for EUR/GBP, it leapt 0.8889 from 0.8884.
Happy Monday, dear traders! Hope you had a great weekend and you’re ready for the last trading week in 2022! Later this week we’ll announce some exciting news for you, but now let’s look through some interesting news! Today’s events: USA, UK, Hong…
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.
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.
2022 was rough: inflation, energy crisis, and plenty of other controversial situations…