Last week was not full of events, but we still saw decent moves in the charts of majors, S&P500, NASDAQ, oil, and crypto. The upcoming week will bring even more volatility to your favorite assets!
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.
The US will release the Philly Fed Manufacturing Index – the impactful event for the USD and thus for all the major pairs. It will be out on November 18 at 15:30 MT (GMT+2).
The United Kingdom will publish the Inflation Rate on November 17, at 09:00 MT (GMT+2). How will it impact the markets?
ISM Manufacturing PMI will be announced at 17:00 MT (GMT+2) on Wednesday, December 1.
The Eurozone will publish the Indicator of GfK Consumer Confidence on November 25, at 09:00 GMT+2.
The United States will publish the Federal Open Market Committee Meeting Minutes on November 24, at 21:00 GMT+2.