
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.
XBR/USD (Brent oil) has sharply rocketed to the highs unseen since the middle of June! The move above the psychological level of $76.00 will push the crude oil to the high of June 5 at $77.00. Support levels are the low of September 20 at $73.00 and the intersection of the 50- and 100-day moving averages of $71.50.
There are really interesting movements in the GBP/USD chart. The pair has failed to break through the support level of 1.3600 three times and has reversed up again. It may reach the resistance level of 1.3700. The breakout above this level will open the doors to the next round number of 1.3750. Support levels are 1.3600 and 1.3500. Follow the Bank of England's meeting today and keep an eye on GBP/USD!
The Canadian dollar has gained from the rising oil prices. As a result, USD/CAD has reversed down from the strong resistance level of 1.2850. It’s likely to reach the 50-day moving average of 1.2600. The lower line of the channel can stop the pair from falling further.
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.
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.
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.
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.
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