How Energy Crisis Affects German PMI August 23, 2022, 10:30 GMT+3 Germany will publish Flash Manufacturing PMI data on Tuesday, August 23, at 10:30 MT time (GMT+3)…
Market updates on August 20
- During the Tokyo trading session, there were no significant movers. Now we will continue to follow the news on Brexit after the comments by Boris Johnson that the UK will leave the European Union on October 31 either with or without a deal. Oh the H4, GBP/USD is testing the ground below the 50-period SMA at 1.2085. If this level is broken, the next support will lie at 1.2049. From the upside, the rise is limited by the 1.2106 level. After that, pay attention to the 100-period SMA and the 1.2140 level.
- The political tensions inside Europe will also attract our attention today, as Italian premier Giuseppe Conte will be speaking at the Senate at 16:00 MT, where he will address the country’s political crisis. In case of more uncertainties, the euro may get weaker. Pay attention to the support level at 1.1075. The next support will be placed at 1.1065. If bulls gets stronger, the first resistance will lie at 1.1088. After that, pay attention to 1.1106 level.
- USD/JPY is testing the support at 106.29. If the risk sentiment fades away, this level will be broken and the next support will lie at the 50-day SMA at 105.96. From the upside, pay attention to the resistance levels at 106.62 and 106.74. After that, the rise may be limited by the 106.95 level.
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?
As Europe moves into recession, next week may provide us with some amazing trading opportunities. Here they are!
Main news that will drive the market in the upcoming week include CB Consumer Confidence Index, Canadian GDP, and US Core PCE Price Index
The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.