
Last week was full of surprises! The US dollar plunged despite a better-than-expected retail sales report…
The US dollar continues climbing up, while the euro and the pound are dipping. Let’s have a closer look.
EUR/USD has just bounced off the key support of 1.1800. driven by upbeat economic data. If it manages to cross it, the way towards the next support at the low of August 21 at 1.1770 will be clear. In the opposite scenario, if the pair jumps above the Friday’s high at 1.1860, it may reach the key psychological mark of 1.1900.
S&P 500 has reversed its losses. If the stock index goes above the high of August 25 at 3 445, it will jump higher to the next resistance at 3 480. Otherwise, the move below the key psychological mark of 3 400 will drive the price to the low of August 20 at 3 350.
The British pound has sharply dropped amid the fears of a no-Brexit deal. If it falls below the low of August 25 at 1.3125, it may dip down to the next round number at 1.3050. On contrary, the move above the resistance of 1.3180 will prove the breakout of the descending channel and will drive the price upward to 1.3250.
Finally, let’s talk about gold. It has been still trading inside of the triangle. If it breaks through $1 925, it will be the pivotal point, which will push the yellow metal down to $1 910, Otherwise, the move above $1 950 will drive the price to the upper trendline near the $1 970 level.
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 US Bureau of Labor Statistics will announce average hourly earnings, nonfarm employment change (NFP), and the unemployment rate on July 8, at 15:30 MT time.
The Federal Open Market Committee, a committee within the Federal Reserve, will reveal a detailed record of the central bank’s last meeting on July 6 at 21:00 MT.
The Reserve Bank of Australia will announce its cash rate and make a statement about future rate policy on Tuesday, July 5, at 07:30 MT.
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